Samart Connected Washing Machine Market 2016-2020
- Published: May 2016
- Pages: 76
- SKU: IRTNTR9407
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This industry research report presents a detailed segmentation of the global smart connected washing machine market by product (front load smart connected washing machine and top load smart connected washing machine) and by geography (the Americas, APAC and MEA, and Europe). Leading vendors in the market are Whirlpool, LG Electronics, Robert Bosch, Samsung, and GE Appliances.
Overview of the global smart connected washing machine market
Technavio’s market research analysts have estimated the global smart connected washing machine market to grow tremendously at a CAGR of more than 7% over the forecast period. The increasing demand for convenient consumer products is one of the critical factors driving the growth of this market in the coming years. The rapidly changing lifestyles and growing preferences for convenience have led to the consumers adopting latest technologies like smartphones and tablets. The concept of controlling and managing home appliances via the Internet and a smart device has been gaining a lot of traction in the last few years. Smart connected washing machines are designed specifically to favor the convenience factor of consumers as it comes with a unique remote location operability option. Therefore, by downloading the app on their smartphones or tablets and connecting the washing machines through the Wi-Fi, end users can easily operate the appliance from a remote location. The consumer can seamlessly select the desired wash cycle, monitor the process, and get all the notifications on the smartphone from any location. For instance, the Twin Wash washing machine by LG Electronics is a smart connected appliance that is equipped with both Wi-Fi and NFC so that the consumers can change the temperature and length of a wash through an app on their smartphones.
In this market research study, the analysts have estimated factors such as increasing investments in research and development to impel the growth prospects for this market in the coming years. To gain a competitive edge over their counterparts and to introduce smart connected washing machines with advanced features into the market, most vendors are increasingly focussing on R&D activities. This focus on R&D activities has led to increasing R&D investments for designing and developing improved quality products.
Product segmentation and analysis of the smart connected washing machine market
- Front load
- Top load
During 2015, the smart connected top load washer segment led the market and accounted for close to 67% of the market share in terms of revenue. Top load washing machines are faster and have larger capacity drums that are capable of washing bigger loads of laundry in a single cycle. Moreover, users do not have to wait until the end of the wash cycle to add extra laundry. Also, the development and introduction of smart top loading washers is a boon for consumers struggling with back problems as the user does not have to bend to load the laundry.the development and advent of such products will aid in the growth of this market segment during the next few years.
Geographical segmentation and analysis of the smart connected washing machine market
- APAC and MEA
In terms of geography, the Americas dominated the global smart connected washing machine market and is anticipated to reach more than USD 1 billion by 2020. Recent technological advancements and increasing awareness among customers in the Americas, especially the US, is likely to spur the growth of this market. Moreover, factors like high internet and smartphone penetration in the region will aid in this market’s growth in the next four years.
Competitive landscape and key vendors
The global smart connected washing machine market is fairly competitive owing to the presence of numerous vendors. Due to the presence of both established and small vendors, the level of competition in this market will be high in the coming years. The level of competition is likely to intensify further during the forecast period with an increase in product line extensions, investments in digital marketing and e-commerce, technological innovations, and R&D activities.
Key vendors in this market are -
- LG Electronics
- Robert Bosch
- GE Appliances
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global smart connected washing machine market?
- What are the key market trends impacting the growth of the global smart connected washing machine market?
- What are the challenges to market growth for the global smart connected washing machine market?
- Who are the key vendors in the global smart connected washing machine market?
- What are the market opportunities and threats faced by the vendors in the global smart connected washing machine market?
- Trending factors influencing the market shares of the Americas, APAC and MEA, and Europe.
- What are the key outcomes of the five forces analysis of the global smart connected washing machine market?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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