In recent years, the smart appliances industry has seen significant growth and innovation as more and more households adopt connected devices to make their homes smarter and more efficient. In this blog post, we will explore key statistics and trends shaping the smart appliances industry, providing valuable insights into the future of connected home technology.
The Latest Smart Appliances Industry Statistics Explained
The global smart appliances market is expected to reach $37.2 billion by 2020.
The statistic that the global smart appliances market is expected to reach $37.2 billion by 2020 indicates a significant market growth and consumer demand for smart home technology. This projected market value represents the total revenue generated from the sale of smart appliances, such as smart refrigerators, washing machines, thermostats, and other connected devices designed to enhance convenience, energy efficiency, and automation in households. The increasing adoption of smart appliances is driven by factors such as advancements in Internet of Things (IoT) technology, growing focus on energy savings, and the desire for interconnected and automated living spaces. The $37.2 billion market estimation highlights the booming industry and the shift towards a more technologically integrated and efficient home environment.
The global smart home appliances market is expected to grow at a CAGR of 14.1% from 2020 to 2027.
This statistic indicates that the global smart home appliances market is projected to experience steady growth over the period from 2020 to 2027, with a Compound Annual Growth Rate (CAGR) of 14.1%. A CAGR of 14.1% implies that the market is expected to expand by an average of 14.1% each year during this time frame. This significant growth rate suggests increasing consumer demand for smart home appliances due to factors such as technological advancements, convenience, energy efficiency, and the growing trend of interconnected devices in homes. The forecasted growth rate of 14.1% highlights the potential for substantial market expansion and opportunities for businesses operating within the smart home appliances industry.
By 2025, the global smart kitchen appliance market is expected to reach $43.4 billion.
The statistic states that by the year 2025, the global market for smart kitchen appliances is projected to increase in value to $43.4 billion. This signifies a significant growth in demand for innovative kitchen appliances that are equipped with smart technology such as connectivity features, automation, and energy efficiency. The increasing adoption of smart home technology, changing lifestyles, and a growing emphasis on convenience and efficiency in daily tasks like cooking and meal preparation are driving this market expansion. Manufacturers and tech companies are likely to invest more resources into developing cutting-edge smart appliances to meet consumer demands, contributing to the overall growth of the global smart kitchen appliance market.
Asia Pacific dominated the smart appliances market with a revenue share of 37.4% in 2019.
The statistic indicates that the Asia Pacific region held a significant portion of the smart appliances market revenue in 2019, commanding a share of 37.4%. This dominance suggests that a large portion of the revenue generated by sales of smart appliances globally originated from countries within the Asia Pacific region, which includes some of the world’s largest and fastest-growing economies such as China, Japan, and South Korea. Factors contributing to this strong market presence may include increasing urbanization, rising disposable incomes, technological advancements, and a growing inclination towards smart home solutions among consumers in the region. The statistic highlights the importance of the Asia Pacific market in the smart appliances industry and underscores the region’s influence on market trends and developments in the sector.
The global smart refrigerator market is expected to grow at a CAGR of 13.2% from 2021 to 2026.
This statistic indicates that the global smart refrigerator market is projected to experience a Compound Annual Growth Rate (CAGR) of 13.2% between the years 2021 and 2026. This growth rate suggests that the demand for smart refrigerators, which come equipped with advanced technological features such as internet connectivity and automated temperature control, is expected to increase significantly over the forecast period. Factors driving this growth may include changing consumer preferences towards smart home appliances, improving living standards, and advancements in Internet of Things (IoT) technology. Businesses operating in the smart refrigerator market may strategize and invest in innovation and market expansion to capitalize on this projected growth trend.
By 2021, the number of smart appliances in use worldwide is projected to reach over 470 million.
The statistic indicates that by the year 2021, the global number of smart appliances being used is estimated to surpass 470 million units. Smart appliances refer to household devices that are connected to the internet and are equipped with sensors and technology that allow them to communicate and interact with other devices or users. The increasing trend in the adoption of smart appliances can be attributed to advancements in technology, the growing popularity of smart home automation, and the desire for more efficient and convenient solutions in the household. This projection suggests a significant rise in the integration of smart technology into homes worldwide, signifying a shift towards a more interconnected and technologically advanced living environment.
By 2025, North America is expected to hold the largest market share for smart kitchen appliances.
The statistic that by 2025, North America is expected to hold the largest market share for smart kitchen appliances indicates that the region is anticipated to have the highest percentage of sales or adoption of smart kitchen appliances compared to other regions. This could be attributed to factors such as technological advancements, consumer demand for convenience and automation in the kitchen, and the presence of key market players in North America. As a result, companies may focus their marketing and distribution efforts in the region to capitalize on the projected growth and potential market opportunities for smart kitchen appliances.
The smart washing machine market is expected to grow at a CAGR of 22.60% during 2021-2026.
This statistic indicates that the smart washing machine market is projected to experience significant growth over the period from 2021 to 2026, with a compound annual growth rate (CAGR) of 22.60%. This means that on average, the market is anticipated to increase by 22.60% each year during this time frame. Such a high growth rate suggests a strong market demand for smart washing machines, likely driven by factors such as increasing consumer preference for technologically advanced appliances, rising disposable incomes, and a growing focus on energy efficiency and convenience in household tasks. The CAGR provides a standardized way to measure and compare growth rates over time, making it a valuable metric for assessing the market dynamics and potential opportunities in the smart washing machine industry.
In 2020, 45% of US homes had at least one smart home device.
The statistic stating that 45% of US homes had at least one smart home device in 2020 indicates the prevalence and adoption rate of smart technology within residential households in the United States during that year. This percentage suggests that nearly half of all homes incorporated some form of smart device, such as smart speakers, thermostats, security cameras, or lighting systems, into their living spaces for added convenience, energy efficiency, security, and entertainment purposes. The data underscores the increasing integration of technology into daily life and signals a growing trend towards smart home solutions as part of modern living environments.
The worldwide connected home security system market is expected to reach around $32.5 billion by 2026.
The statistic provided indicates that the global market for connected home security systems is projected to grow significantly, reaching an estimated value of around $32.5 billion by the year 2026. This forecast suggests a strong demand for home security solutions that leverage technology to provide increased connectivity, automation, and monitoring capabilities for residential properties worldwide. Factors such as rising concerns about safety and security, advancements in smart home technology, and the increasing adoption of Internet of Things (IoT) devices are likely driving the growth of the connected home security system market. This statistic highlights the continued expansion of the home security industry and the ongoing trend towards more interconnected and intelligent solutions for safeguarding homes and properties.
In 2019, the smart home industry was worth nearly $77.3 billion globally.
In 2019, the smart home industry reached a value of approximately $77.3 billion worldwide, indicating a significant market size for products and services related to connected, automated, and intelligent homes. This statistic reflects the growing trend towards integrating technology into everyday household functions, such as security, energy efficiency, entertainment, and convenience. The substantial economic value of the smart home industry demonstrates both consumer interest and investment from businesses in developing and providing smart home solutions. As technology continues to advance and more households adopt smart home devices, the industry is expected to further expand and evolve in the coming years, potentially reaching even greater market values.
Smart appliances accounted for approximately 5% of the overall smart home technology market in 2020.
The statistic indicates that smart appliances, such as refrigerators, ovens, and washing machines, made up around 5% of the total smart home technology market in the year 2020. This means that of all the different types of smart devices available for home automation, smart appliances represented a small but significant portion. The data suggests that while smart appliances are gaining popularity among consumers looking to enhance convenience and efficiency in their homes, there is still room for growth and innovation in this segment of the market compared to other smart home technologies like smart speakers or security systems.
Almost three-quarters of people worldwide are expected to use just one app to control all their smart home devices by 2025.
The statistic suggests that by the year 2025, a significant majority of individuals globally are anticipated to rely on a single application to manage all of their smart home devices. This trend indicates a shift towards greater convenience and simplicity in smart home technology integration, as users consolidate control and access through a unified platform. Given the increasing prevalence and diversity of smart home devices, the adoption of a singular app for management signifies a streamlined approach that enhances user experience and operational efficiency. This statistic underscores the growing prominence of centralized control in the smart home ecosystem, reflecting an evolving consumer preference towards ease of use and seamless integration in managing their connected devices.
In 2021, 42% of internet users worldwide used smart home technology.
The statistic “In 2021, 42% of internet users worldwide used smart home technology” indicates the prevalence and adoption rate of smart home technology among internet users across the globe during that year. This percentage suggests that a significant portion of the global internet user population has integrated smart home devices and systems into their households, showcasing a growing trend towards connected and automated living spaces. The statistic highlights the increasing popularity and acceptance of smart home technology as more individuals seek convenience, efficiency, and connectivity in their homes through the use of devices such as smart speakers, thermostats, lighting, security systems, and appliances. Additionally, this data provides valuable insights for technology companies, policymakers, and consumers looking to understand and capitalize on the ongoing shift towards smart and interconnected homes worldwide.
The use of smart appliances in residential applications accounted for more than 60% of the market share in 2019.
The statistic indicates that in 2019, smart appliances were a dominant choice for residential applications, comprising over 60% of the market share. This suggests a significant shift towards the adoption of smart technology in household appliances by consumers. The strong market share indicates that smart appliances have gained widespread acceptance and popularity due to their convenience, energy efficiency, and advanced features. This trend highlights the increasing demand for interconnected devices in households, showing the growing influence of technology in transforming traditional home appliances into smart, interconnected devices that offer enhanced functionality and convenience to users.
The global smart speaker market size reached around $11.9 billion in 2020.
The statistic ‘The global smart speaker market size reached around $11.9 billion in 2020’ indicates the total value of sales generated by smart speaker companies worldwide throughout the year 2020. This figure represents the significant growth and adoption of smart speaker technology by consumers for various purposes such as voice assistants, smart home control, entertainment, and information access. The market size reflects the demand for smart speakers and the competition among industry players to innovate and capture a share of this rapidly expanding market. This statistic serves as a key indicator of the increasing integration of smart speaker technology into our daily lives and the continued expansion of the smart home market as a whole.
In 2020, the streaming devices market worldwide was valued at around $16.3 billion.
The statistic states that in 2020, the global market for streaming devices, such as smart TVs, streaming sticks, and set-top boxes, had an estimated value of approximately $16.3 billion. This indicates the significant consumer demand and adoption of streaming technologies for accessing digital content over the internet. The streaming devices market has experienced rapid growth due to the increasing popularity of online streaming services like Netflix, Amazon Prime Video, and Disney+, as well as the shift towards digital entertainment consumption. The substantial market value implies a competitive landscape with various manufacturers and brands vying for market share and innovation in streaming device technology to meet the evolving demands of consumers worldwide.
By 2023, it’s estimated that there will be 35.6 billion IoT connected devices globally.
The statistic states that by the year 2023, it is projected that there will be 35.6 billion Internet of Things (IoT) connected devices worldwide. This suggests a significant expansion in the adoption and utilization of IoT technology across various industries and sectors. These connected devices are designed to collect, exchange, and analyze data, enabling automation, optimization, and new business opportunities. The increasing prevalence of IoT devices is expected to revolutionize how businesses operate, improve efficiency in various processes, and enhance everyday life through smart home devices, wearable technology, and industrial applications. This statistic highlights the growing importance and impact of IoT technology on the future digital landscape.
Nearly 40% of US consumers own smart home products, such as smart fridges or smart light bulbs.
The statistic reveals that a significant proportion, nearly 40%, of consumers in the United States have adopted smart home products like smart fridges or smart light bulbs. This suggests a growing trend towards integrating technology into everyday household appliances to enhance convenience, efficiency, and connectivity. The widespread adoption of smart home devices indicates a shift towards a more interconnected and digitized lifestyle among consumers, driven by the desire for automation, energy savings, and convenience. The data highlights the increasing acceptance and integration of smart technology in homes, showcasing a significant market potential for companies in the smart home industry.
Conclusion
Through analyzing the Smart Appliances Industry Statistics, it is evident that the market is experiencing rapid growth and innovation. As technology continues to advance and consumer demand for connected devices increases, the future looks promising for the smart appliances sector. Manufacturers and businesses in this industry should leverage these insights to develop new products and services that cater to the evolving needs of tech-savvy consumers.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.iot-analytics.com
2. – https://www.datareportal.com
3. – https://www.www.cnet.com
4. – https://www.www.businessinsider.com
5. – https://www.www.statista.com
6. – https://www.www.mordorintelligence.com
7. – https://www.www.gminsights.com
