Name: the connected household appliances market
Brand: Businesscoot
Price: 89 EUR
Availability: InStock

INFORMATION ON THE STUDY

Prix: 89€ HT
Last update: 26/11/2021
Language: English
Category: Home goods
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Content of the study

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MARKET OVERVIEW

1.1 Definition and scope of study

Connected appliances, also called smart appliances, are the latest generation of home appliances that, through connection to a Wi-Fi, can be controlled and programmed remotely through a computer, cell phone or tablet. Typically, most modern homes have ovens, washers, dryers, refrigerators and coffee makers as smart appliances. Although the price of these appliances is higher than traditional ones, there are numerous other advantages to remote control:

- Connecting appliances together

- Optiminb time in daily life

- Saving money by being able to run appliances during off-peak hours, even if you are not physically at home

In terms of the global market, the total value in 2019 was $32.30 billion and the market is expected to grow at a compound annual growth rate (CAGR) of 14.1% between the year 2020 and 2027.

The Italian market, in the year 2019 recorded a growth of 40% over the year 2018. This growth in large part due to two factors: the fact that Italians due to the pandemic have spent more time at home and have thus been able to devote more hours to the organization of their homes and the fact that a large percentage of the population has been pushed to renovate their house thanks to the formula of the "Superbonus 110%". Smart appliances, on the market for a short time, are known by 69% of the population and 19% of the population already own at least one.

The most important market trend is to create increasingly efficient and technological appliances at lower costs in order to reach more consumers. The goal for many companies is to create a well-differentiated product offering in order to have more loyal customers willing to buy from a single provider the various essential home appliances.