Smart Connected Washing Machines Market Scope
Smart Connected Washing Machines are basically IOT enabled Smart Machines which can be operated using smart phones from anywhere around the globe. The machines are also equipped with Artificial Intelligence which allows machine to make decisions on its own without human aid. The increasing adoption of IOT because of improved connectivity technology such as UWB, 5G and RFID has also led to growth of Smart Washing Machine Market. Geographically, Asia Pacific and North America are expected to be prominent markets because of large population and increasing disposable incomes.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Whirlpool Corporation (United States), Samsung Group (South Korea), LG Corporation (South Korea), Siemens AG (Germany), Robert Bosch GmbH (Germany), AB Electrolux (Sweden), Haier Group Corporation (China), Panasonic Corporation (Japan), Techtronic Industries (China) and KCD IP, LLC (United States) |
CAGR | 6.0% |
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Smart Connected Washing Machines market throughout the predicted period.
Whirlpool Corporation (United States), Samsung Group (South Korea), LG Corporation (South Korea), Siemens AG (Germany), Robert Bosch GmbH (Germany), AB Electrolux (Sweden), Haier Group Corporation (China), Panasonic Corporation (Japan), Techtronic Industries (China) and KCD IP, LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Maytag Corporation (United States), IFB Industries Ltd. (India) and Toshiba Corporation (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Smart Connected Washing Machines market by Type and Region with country level break-up.
On the basis of geography, the market of Smart Connected Washing Machines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In 2018, Haier Group Corporation, China based multinational electronics and appliances manufacturer has announced acquisition of Candy which is an Italy based small home appliance manufacturer. The acquisition will enable Haier Group to use Candy’s management expertise in order to steer into European Markets.
In March 2021 – Samsung Electronics Singapore announced the launch of its 2021 washer and dryer line-up that delivers smart, personalised and efficient laundry experiences. The new line-up – which includes 21 washing machines, dryers and combo units – addresses some of the common grievances Singaporeans face when doing laundry, especially when it comes to delivering faster and smarter wash experiences.
Influencing Trend:
Integration of Artificial Intelligence in IOT or Smart Washing Machines
Market Growth Drivers:
Advancement in Sensors Technology, Improved Connectivity Technology and Increasing Adoption of IOT and Cloud Computing Solutions
Challenges:
Lack of Telecom Infrastructure in Developing Countries, Limits its Use in Developing Countries
Restraints:
More Expensive than Conventional Washing Machines
Opportunities:
Energy and Water Efficiency Solutions will be promoted by Government with Enhanced Focus on Sustainability
Key Target Audience
Smart Connected Washing Machines Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries