The smart home appliances market is expected to grow by USD 31.66 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the smart home appliances market in optimistic, probable, and pessimistic forecast scenarios.

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Technavio has announced its latest market research report titled Global Smart Home Appliances Market 2020-2024 (Graphic: Business Wire)

Enterprises will go through Response, Recovery and Renew phases. Download a Free Sample Report on COVID-19

The smart home appliances market will witness Negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Increase as compared to 2019.

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.

This post-pandemic business planning research will aid clients to:

  • Adjust their strategic planning to move ahead once business stability kicks in.
  • Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
  • Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure.Click here

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

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Major Three Smart Home Appliances Market Participants:

AB Electrolux

AB Electrolux operates its business under various segments such as major appliances EMEA, major appliances North America, major appliances Latin America, major appliances Asia/Pacific, home care and SDA, and professional products. The company offers a range of smart home appliances which includes microwave ovens such as AEG smart steam oven and smart air conditioners such as FGRC0844S1 and Frigidaire Cool Connect Air Conditioners.

General Electric Co.

General Electric Co. operates its business under six segments, which include power, renewable energy, aviation, oil & gas, healthcare, and others. The company offers a wide range of smart home appliances such as WiFi connect refrigerators, WiFi connect ranges, Kitchen Hub, WiFi connect ventilation, WiFi connect dishwashers, WiFi connect microwaves, and others.

Koninklijke Philips NV

Koninklijke Philips NV operates its business under diagnosis & treatment, connected care & health informatics, personal health, and other. The company offers a range of smart home appliances such as Philips Hue, smart home lighting such as bulbs, light strips, lamps, and accessories.

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown:

Smart Home Appliances Market 2020-2024: Segmentation

Smart home appliances market is segmented as below:

  • Product
    • Smart Washing Machines
    • Smart Air Conditioners
    • Smart Refrigerators
    • Smart Microwave Ovens
    • Smart Dishwashers
  • Distribution channel
  • Geographic Landscape
    • North America
    • APAC
    • Europe
    • South America
    • MEA

The smart home appliances market is driven by adoption of wireless connecting devices. In addition, other factors such as growing smartphone penetration and increasing internet speed are expected to trigger the smart home appliances market toward witnessing a CAGR of over 16% during the forecast period.

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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/04/2020 04:45 AM/DISC: 11/04/2020 04:45 AM

Copyright Business Wire 2020.