The smart home appliance market will continue to grow, and the market size is expected to grow to 78.5 billion U.S. dollars by 2023

According to a recent foreign research report, the global smart home appliance market is expected to grow rapidly at a compound annual growth rate of about 49.4% in the next five years. It is estimated that the market size will grow from USD 7.05 billion in 2017 to 2023. 78.5 billion U.S. dollars.

Smart home appliances refer to devices or machines that can be remotely controlled via a tablet or smart phone. The equipment covered by the research report includes smart air conditioners and heaters, smart washing and drying appliances, smart refrigerators, smart large-scale cookers, smart dishwashers, and so on.

The smart home appliance market has experienced rapid growth in the past few years, and this trend is expected to continue in the next decade. The report also stated that the United States and Europe are the largest consumer markets for smart home appliances, driven by high spending power and the desire for convenient lifestyles. Markets such as China and Japan are also developing rapidly.

From the perspective of manufacturers, the report covers mainstream brands such as Samsung, Bosch, General Electric, Whirlpool, LG, Electrolux, Panasonic, Miele&Cie, Philips, IRobot, Ecovacs, Neato, Haier, Midea and Hisense.

The market segment by application can be divided into cooking, food storage, cleaning and house maintenance. In addition, the market segment by type includes smart air conditioners and heaters, smart washing and drying, smart refrigerators, smart large cookware, and smart dishwashers.

The research report predicts. In the next five years, the compound annual growth rate of smart kitchen appliances will reach 28.9%. By 2023, it will increase from US$89 million in 2017 to US$3.17 billion.

Its main manufacturers are still Whirlpool, AB Electrolux, Samsung Electronics, LG Electronics, Haier Group, Bossie, Miele & Cie KG, Panasonic, Robam and Midea.