Connected Home Appliance Market in the US 2016-2020

Overview of the connected home appliance market in the US

According to the market research analysts at Technavio, the connected home appliance market in the US will witness exponential growth and will post a staggering CAGR of close to 40% over the forecast period. In 2015, the total number of households in the US was almost 123 million, out of which 91 million had broadband connectivity. Smart home systems are gaining traction with the advent of high-speed internet services from leading ISPs, such as AT&T, Comcast, Sprint, and Verizon. Most smart home appliances function efficiently with the help of wireless connectivity. This recent increase in the penetration of Wi-Fi connectivity is fuelling the adoption of smart home appliances as several smart appliances can be added to the home network, without the need for external controllers. Moreover, with major companies such as Samsung, LG, and Panasonic capitalizing on smart home technologies, the market for connected home appliances is likely to witness promising growth in the coming years.

One of the upcoming trends spurring this market’s growth prospects is the increasing penetration of smart TVs in the US. Smart TVs comprise a built-in camera, an Internet connection, and a manufacturer-controlled operating system. Currently, smart TVs account for nearly 47% of the market share in the US; however, the market share is expected to increase over the next four years as smart TVs offer the added functionality of a computer. TVs that do not have a built-in connection and use a plug-in device to access the added functionalities and internet features are called streaming devices. These devices offer an easy and inexpensive way to stream online videos, which is a major advantage over conventional TVs. Additionally, the declining prices of these television sets will also contribute to the growth of this market until the end of 2020.

Competitive landscape and key vendors

The connected home appliance market in the US is highly competitive owing to the presence of many large players operating in different industry verticals. Also, wireless phone providers and ISPs are facing competition in terms of package offerings due to the rising demands of the customers.

 Key vendors in this market are -

• ARRIS
• AT&T
• Comcast
• Honeywell
• Samsung

Other prominent vendors analyzed in this report are Bosch, Control4, Dacor, Electrolux, Frigidaire, GE, Haier, iControl Networks, Ingersoll-Rand, LG, Panasonic, Sprint, Thermador, Vivint, and Whirlpool.

Growth drivers, challenges, and upcoming trends: Cloud-based technologies

Emerging trends such as cloud-based technologies are gaining immense popularity as they decrease the complexity of software issues in devices and accomplish the interoperability of devices in a simpler way. The majority of residential users are rapidly adopting cloud-based residential security solutions as they provide a self-monitoring and remote service solution. It offers a user-friendly interface to homeowners, helping them to arm, disarm, and check the security status of their house from a remote location. Also, cloud-based services are used to store images captured by surveillance systems and can be used on demand. Cloud-based services ensure low cost of ownership and on-demand scalability without any additional cost for homeowners. Furthermore, the smart home cloud center platform offers features like high-speed gaming, mobile app downloads, content transfer across regions, and multiple wireless user interfaces, which will indirectly translate into the demand for connected home appliances in the US.

This report provides several factors contributing to the adoption, limitations, and opportunities of the connected home appliances market in the US. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

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 connected home appliance market in the US?
• What are the key market trends impacting the growth of the connected home appliance market in the US?
• What are the challenges to market growth?
• Who are the key vendors in the connected home appliance market in the US?
• What are the market opportunities and threats faced by the vendors in the connected home appliance market in the US?
• Trending factors influencing the market shares of the US.
• What are the key outcomes of the five forces analysis of the connected home appliance market in the US?

Technavio also offers customization on reports based on specific client requirement.

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