Key vendors collaborating with online retailers such as Amazon to gain market shares
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global smart appliances market in their latest research report. This report also lists nine other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated the revenue generated from the retail sales of smart appliances worldwide.
This Technavio report, under the home, kitchen and large appliances vertical, is based on the synthesis, analysis, and interpretation of information about the global smart appliances market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global market for smart appliances is characterized by the presence of several large and small vendors. The competition in the market is likely to increase in tandem with investments in R&D made by the vendors in the market space. Established brands are facing competition from Lenovo and Xiaomi, which are entering into the smart home devices market space. Companies are also spending a significant amount on R&D to develop innovative and improved quality products, and stay abreast of emerging technologies that have a bearing on their product lines.
“Several players in the market are entering into partnerships and collaborations with online retailer Amazon. In 2015, Amazon introduced Dash Replenishment, a program that works with connected devices. Once the program is synchronized with connected devices like smart connected washing machines, it detects when supplies like laundry detergent run low, automatically connects to the customers’ Amazon account and places the order. Players like Robert Bosch, Whirlpool, and Samsung are already integrating Dash Replenishment in their connected appliances,” says Abhay Sinha, a lead analyst at Technavio for home, kitchen and large appliances.
Top five vendors in the smart appliances market space
Electrolux
Electrolux engages in the design and manufacture of home appliances such as refrigerators, washing machines, dishwashers, vacuum cleaners, cookers, air conditioners, and small domestic appliances under the AEG, Electrolux, Electrolux Grand Cuisine, Frigidaire, and Zanussi brands. It operates in the US through its subsidiary Electrolux Appliances. The company sells more than 60 million products through eight brands in more than 150 countries every year.
Key products: Smart microwave ovens and Smart air conditioners.
Haier
Haier is involved in the manufacture and sales of home appliances that include refrigerators, freezers, washers, television sets, consumer electronic appliances, and integrated kitchenware. In FY2015, the company reported a revenue of more than $14 billion. In June 2016, Haier acquired GE appliances for almost $6 billion.
Key products: Smart refrigerators, Smart dishwashers, Smart microwave ovens, Smart washing machines, Smart dryers, and Smart air conditioners.
LG Electronics
LG Electronics engages in manufacturing and sales of mobile communication devices, consumer electronics, and home appliances. It offers products such as flat panel televisions, mobile devices, air conditioners, washing machines, and refrigerators. In FY2015, the company reported a revenue of almost $50 billion.
Key products: Smart refrigerators, Smart dishwashers, Smart microwave ovens, Smart washing machines, Smart dryers, and Smart air conditioners.
Samsung Electronics
Samsung Electronics engages in the manufacture and sale of consumer electronics, communication, home appliances, and semiconductor products. The company generates a majority of its revenue from the sales of consumer appliances. In FY2015, the company reported a revenue of more than $177 billion in revenue.
Key products: Smart refrigerators, Smart washing machines, Smart dryers, and Smart air conditioners.
Whirlpool
Whirlpool manufactures and markets home appliances and related products globally. The company’s product offerings include dishwashers, laundry appliances, cooking appliances, hermetic compressors, refrigerators and freezers, mixers, and other portable household appliances. The company sells products under the brand names KitchenAid, Bauknecht, Maytag, Whirlpool, Brastemp, Jenn-Air, Amana, and Consul. Whirlpool manufactures its products in 14 countries and 70 manufacturing and technology research centers.
Key products: Smart refrigerators, Smart washing machines, Smart dryers, and Smart dishwashers.
Other prominent vendors in this market include Dacor, Friedrich, FUJITSU GENERAL, Midea, Mitsubishi Electric, Panasonic, Robert Bosch, Videocon, and Voltas.
A more detailed analysis is available in the Technavio report, Global Smart Appliances Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Smart Home M2M Market 2016-2020
- Global Connected Devices Market 2016-2020
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