Connected Home Appliance Market Scope
The connected home is where multiple devices and services across a variety of sectors are integrated to offer greater convenience and peace of mind in the domestic environment. The connected home cannot be just about kitting homes out with fancy gadgetry to do things we already do, just with more ease. These connected devices and services need to empower people and give them more control over their lifestyles.
The global connected home appliances market is fragmented in nature. The manufacturers are designing home appliances with new technology adoption and innovating new research and development activities. Moreover, they are adopting strategies such as mergers and acquisitions, partnerships, collaboration to gain a competitive advantage over the competitors in the market. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Connected Home Appliance market throughout the predicted period.
IBM Corporation (United States), Honeywell International Inc. (United States), BSH Hausgeräte (Germany), Whirlpool Corporation (United States), Robert Bosch GmbH (Germany), LG (South Korea), Electrolux (Sweden), Samsung Group (South Korea), General Electric (United States), Panasonic Corporation (Japan), AT&T Inc. (United States) and Philips (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Comcast Corporation (United States), Miele (Germany), IRobot (United States), ARRIS Group Inc. (United States), Haier (China) and Hisense (China).
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 total available market.
Segmentation Overview
The study have segmented the market of Global Connected Home Appliance market by Type (Smart Energy [Lighting, Meters, Radiator Valve], Smart Entertainment [TV, Interactive Speakers, Smart Plug], Home Monitoring & Control [Alarm System, Motion Sensor, Security Camera, Smart Lock], Health [Baby Monitors, BP Monitors, Fitness Tracker, Fall Detector] and Appliance [Vacuum Cleaner, Washing Machines, Fridge, AC]), by Application (Cooking, Food Storage, Cleaning and House Maintenance) and Region with country level break-up.
On the basis of geography, the market of Connected Home Appliance 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).
Market Leaders and their expansionary development strategies
On March 20, 2019 - Electrolux has announces the launch of a brand new kitchen range to be rolled out across Europe. Combining technology with human-centric Scandinavian design, it takes the cooking experience to a whole new level for the consumer.
Market Trend
- Advancements are Being Made in Technology
- Development of High Speed Internet Leading to Easy Operation of Devices
Market Drivers
- Increasing Adoption of Internet of Things Leading to Increasing Popularity of Smart Home Appliances
- Improved Standard of Living in Developed and Developing Countries
Opportunities
- Increasing Purchasing Power in Developing Countries
- Spread of Awareness from Shows Events and Promotional Activities
Restraints
- High Prices of the Connected Home Appliances
- Low Penetration of Internet Infrastructure
Challenges
- High Consumption of Electric Power
- High Risk of Failure of Electronic Devices
Key Target Audience
Manufacturers of Connected Home Appliance, Suppliers of Connected Home Appliance, Wholesalers, Distributors, and Retailers of Connected Home Appliance, Research Organization, New Entrants and Governmental Bodies