Smart Appliances Market worth $76.4 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 9, 2021 /PRNewswire/ -- According to the new market research report "Smart Appliances Market with COVID-19 Impact Analysis by Offering, Products (Smart Washer, Smart A.C, Smart Dryer, Smart Refrigerator, Smart Cooktop, Smart ), Services, Technology, End-User-Industry, and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the Smart Appliances Market is expected to grow from USD 33.8 billion in 2021 to USD 76.4 billion by 2026; it is expected to grow at a CAGR of 17.7% during the forecast period. The major driving factors for the growth of the smart appliances market include rising energy prices, changing lifestyles of consumers, increasing use of wireless connectivity, and increased government regulations to save energy. However, the COVID-19 outbreak has resulted in a decline in the growth rate of the smart appliance market, especially in 2020 and 2021.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8228252

Product segment to account for largest market size during the forecast period.

In 2020, the products segment dominated the smart appliances market and is also expected to witness significant growth during the forecast period. The growing need for energy-efficient devices and the rapid technological developments in smart appliances are key factors expected to drive the smart appliances market during the forecast period. Moreover, this market has huge growth potential, and there are many leading players investing in the design and development of smart appliances; the increased R&D activities are also fueling the market growth. Smart washers, smart dryers, smart air conditioners, smart refrigerators are some of the most demanded products in the smart appliance market.

Residential segment to dominate smart appliances market during the forecast period.

In 2020, the residential sector held the largest size of the smart appliance market; it is expected to witness significant growth during the forecast period. The demand for smart appliances has seen a significant increase in recent years—one of the key factors being the rise in digitalization across the globe. Internet penetration has been increased, and smart appliances are easily accessible. Consumers prefer smart appliance for their house as it provides convenience, with the help of smartphone entire home appliance can be controlled from anywhere

Browse in-depth TOC on "Smart Appliances Market"
181 – Tables
78 – Figures
235 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=8228252

North America held the second-largest market share in 2020

In 2020, North America accounted for the second-largest share of the smart appliance market, and a similar trend is likely to be observed during the forecast period. High demand for smart appliances from the residential sector is one of the major factors leading to the dominant position of North America in the smart appliance market.

Samsung Electronics (South Korea), LG Electronics (South Korea), Panasonic (Japan), Whirlpool (US), Haier Smart Home (China), Electrolux (Sweden), Koninklijke Philips (Netherlands), BSH Hausgerate (Germany), Xiaomi (China), and Miele & Cie. KG (Germany) are among the key players operating in the smart appliances market.

Related Reports:

Home Automation System Market with COVID-19 Impact Analysis, By Management, Product (Lighting Control, Security & Access Control, HVAC Control, Entertainment & Other Controls), Software & Algorithm, and Region - Global Forecast to 2025

Smart Home Market with COVID-19 Impact Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Entertainment, Home Healthcare), Software & Services (Proactive, Behavioural), and Region - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/smart-appliances-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/smart-appliances.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg