Connected Home Appliance Market in the US 2015-2019
Outlook of the home appliance market in the US
Technavio’s market research analysts predict the connected home appliance market in the US to grow at a CAGR of more than 98% from 2015 to 2019. The demand for smart homes is expected to witness a huge upsurge in the coming years due to the growing demand for home security in the US.
Another significant driver is the high smartphone penetration across people of all ages in the country. Smart homes will not only ensure a better quality of life, but also offer a plethora of remote monitoring applications in the field of health, entertainment, and security. It can assist the elderly in taking better care of their health through medicine or check-up reminders, apart from huge savings achieved through energy-efficient practices.
How is connected home M2M useful?
A connected home refers to a house or residence equipped with IT-based control systems that anticipate and respond to the needs of residents or end-users. It provides comfort, convenience, and entertainment to users through the use of advanced wireless technologies.
Connected home applications include automatic centralized lighting control systems, HVAC control systems, security and access control systems, entertainment control systems, and those systems that control various household appliances. The growing popularity of home automation systems can be attributed to the benefits that they offer in terms of increased comfort, enhanced safety and security, and efficient energy management.
Market segmentation of connected home appliance by shipment sales
- Home appliance shipment sales
- Smart home appliance shipment sales
Household broadband connections have been steadily increasing due to the penetration of IoT. With this, telecom operators are expected to expand their network coverage and wide-band internet services during the forecast period.
Competitive analysis of the connected home appliances market in the US
- ARRIS Enterprises
Samsung has recently acquired a smart home venture company, SmartThings, for close to USD 200 million. This is seen as a strategic move by Samsung to gain a stronger footprint in the US smart home appliance market.
Google is also eyeing this market, and the company is making strategic acquisitions to foray into connected home appliances. Google acquired Nest, which in turn acquired home CCTV manufacturer Dropcam. With this move, Google has made a direct entry into the home security segment of the market. Similar developments are expected to drive the home appliance market in the US through 2019.
During the forecast period, market vendors will increasingly focus on smart home integration with cloud-based services. These developments are expected to reduce software complexities making interoperability in devices easier in the future.
Other key vendors of this market include AT&T, Bosch, Dacor, Electrolux, Frigidaire, GE, Haier, Ingersoll-Rand, Sprint, Thermador, and Whirlpool.
Key questions answered in the report
- What are the key factors driving the connected home appliances market in the US?
- What are the key market trends impacting the growth of the connected home appliances market in the US?
- What are the various opportunities and threats faced by the vendors in the connected home appliances market in the US?
- Trending factors influencing the market shares for the connected home appliances market in the US?
- Key outcome of the five forces analysis on the connected home appliances market in the US?
- Growth forecast of the connected home appliances market in the US?
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