The global smart home appliance market is expected to reach an estimated $62 billion by 2028 with a CAGR of 14.5% from 2023 to 2028

According to a market report by Lucintel, the future of the global smart home appliance market looks promising with opportunities in the online and offline markets. The global smart home appliance market is expected to reach an estimated $62 billion by 2028 with a CAGR of 14.5% from 2023 to 2028. The major drivers for this market are increasing penetration of smart homes, surging home improvement ventures, as well as growing advancement in IT and wireless communication across the globe.

In this market, smart washing machines, smart refrigerators, smart TVs, and smart air purifiers are the major product segments. Lucintel forecasts smart washing machines will remain the largest segment over the forecast period due to evolving lifestyles, rising recognition of emerging technologies, surge in adoption of smart home devices and growing emphasis on energy efficiency for cost savings.

Within this market, offline will remain the larger segment because of its access to in-shop associates/professionals, ensuring guidance on product details, and also enabling better evaluation of quality as well as features of the products.

APAC will remain the largest region over the forecast period due to significantly growth in the e-commerce industry, widespread adoption of cloud-based solutions, expanding internet reach, and increasing government initiatives fostering adoption of digitalization in the region.

Whirlpool Corporation, LG Electronics, Haier Group, Samsung Electronics, Panasonic Corporation, BSH Hausgeräte, Electrolux, Koninklijke Philips, GE Appliances, and Xiaomi Corporation are the major suppliers in the global smart home appliance market. 

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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