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.
Technavio’s market research analysts estimate the global smart connected washing machine market to grow at a CAGR of almost 8% between 2016 and 2020. The increased use of wireless connecting devices and the Internet of things (IoT) is the primary growth driver for the market. At present, the Americas dominate the global smart connected washing machine market by accounting for over 49% of the overall market share. The expected increase in the popularity and adoption of smart home technology in North America is expected to propel the market growth during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the smart connected washing machine segments by product.
“Vendors in the market are focusing to develop products that are easy to use due to the fast-changing and rapidly evolving lifestyles of people. Marketers are catering to this demand by launching smart appliances like smart connected washing machines. For example, Samsung recently launched its AddWash front load washing machine which provides an option of adding laundry in the middle of a wash cycle through an access door,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
The front load smart connected washing machine segment dominated the global smart connected washing machine market in 2015 by occupying a market share of around 67%. A more effective and efficient than smart top load washers, companies are developing smart front-load washers with new and innovative features to add the comfort level to the users. For instance, LG has introduced a smart wash front-load washer that can be operated using Wi-Fi.
The key vendors in the global smart connected washing machine market include Whirlpool, LG Electronics, Robert Bosch, Samsung, and GE Appliances. 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.
A more detailed analysis is available on the Technavio report, Global Smart Connected Washing Machine Market 2016-2020.
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