Skip to main content

Smart Home Appliance Market will Reach $25 Billion

The smart home appliance market -- defined by products with built-in connectivity -- will witness substantial growth over the next five years, reaching nearly $25 billion by 2018, according to the latest market study by ABI Research.

Currently limited to the top-end luxury models, wireless connectivity for these smart home devices will slowly permeate to lower tier brands and models.

"Smart home appliances have yet to incorporate features that add significant value for their premium price. Smart home appliance features are at present limited to remote access through mobile devices," said Adarsh Krishnan, senior analyst at ABI Research.

The true value of these smart grid ready devices, such as those used in demand-response energy management programs, is several years away and initially will be primarily in the U.S. market.

North America remains the most lucrative market which has seen the fastest growth in the uptake of the smart appliances and is expected to see revenues in excess of $500 million in 2013.

China’s booming luxury market along with more mature markets such as Japan, South Korea, and Australia will drive growth in the APAC region for smart home appliances -- at a five year CAGR of 92 percent.

Wi-Fi is preferred by appliance manufacturers for wireless connectivity, which will result in over 21 million Wi-Fi enabled appliances shipped worldwide in 2018.

The high penetration of Wi-Fi networks in residential households -- and its ability to easily add devices to the home area network without additional bridges or controllers -- are seen as a key advantage.

However, partly due to Wi-Fi’s higher energy consumption, other connectivity technologies such as ZigBee, Z-Wave, and Bluetooth will slowly gain share of the smart appliance market.

I believe that the market for home automation monitoring and control technologies -- used for applications including home energy, environment, security, and entertainment -- will evolve rapidly as more practical and compelling use cases become apparent in the marketplace.

Popular posts from this blog

How the COVID-19 Pandemic Advanced Telehealth Adoption

The global COVID-19 pandemic has accelerated digital transformation across many industries. As an example, consider the healthcare sector. Some routine medical situations can be diagnosed and resolved online. While the trend was already in motion long before the pandemic arrived, the adoption of telehealth increased rapidly in 2020. Around the world, many governments responded to the disruption and inaccessibility of healthcare facilities by loosening previous regulations and restrictions on the practice of telemedicine apps, and teleconsultations. This decision resulted in the mass adoption of these medical services among patients and providers. According to the latest market study by Juniper Research, telemedicine will save the healthcare industry $21 billion in costs by 2025 -- that's rising from an estimated $11 billion in 2021. This increased app usage represents an anticipated growth rate of over 80 percent in the next four years. Telehealth Services Market Development The co

Worldwide Semiconductor Demand will Accelerate in 2021

The technology sector is a key driver of the U.S. economy. Therefore, components like semiconductors play an important role in America's future. The 'CHIPS for America Act' is a new law that calls for incentives on domestic semiconductor manufacturing and investments in research and development. But these renewed efforts will require years of ongoing commitment. Meanwhile, despite the impact of the COVID-19 pandemic, the semiconductor market performed well in 2020. However, new demand by industry was uneven throughout last year due to global lockdowns, remote working adoption, and shifts in consumer and commercial buying behavior. Worldwide semiconductor revenue grew to $464 billion in 2020 -- that's an increase of 10.8 percent compared to 2019, according to the latest market study by International Data Corporation (IDC). Semiconductor Technology Market Development IDC now forecasts that the semiconductor market will reach $522 billion in 2021, that's a 12.5 percent

Hyper-automation Propels Superior Business Process Redesign

When the world was disrupted by a global pandemic during 2020, many CEOs and their board of directors were consumed by reacting to immediate problems. Meanwhile, a few forwarding-thinking enterprise leaders also paused to invest in accelerating their prescient digital transformation agenda. What enables executives to envision an opportunity while others see only challenges? Strategic foresight, and a willingness to embrace the apparent changes that are transforming the legacy status quo. During this period of uncertainty, hyper-automation investment has gained new momentum. Hyperautomation is the application of advanced technologies that augment humans by helping to streamline processes in new ways that are significantly more impactful than the legacy approach. Hyperautomation Market Development The global market for technology that enables hyperautomation will reach $596.6 billion in 2022, according to the latest worldwide market study by Gartner. This is up from $481.6 billion in 202