|[February 06, 2013]
Smart Appliance Market to Reach Nearly $35 Billion Annually by 2020, Forecasts Pike Research
BOULDER, Colo. --(Business Wire)--
As utilities around the world deploy smart meters, smart appliances
(which use an intelligent power management strategy to optimize the load
on the power distribution grid) have a significant role to play in
realizing the vision of the smart grid. Currently, these appliances are
limited in terms of availability and types of products, but they will
start to represent an increasing share of the total appliance market
after 2015. According to a recent report from Pike
Research, a part of Navigant's Energy Practice, the annual value of
the smart appliance market will grow from $613 million in 2012 to $34.9
billion in 2020.
"The market for smart appliances has not developed as quickly as
anticipated, due primarily to the fact that there are very few smart
appliances commercially available," says senior research analyst Bob
Lockhart. "In order for this market to flourish, there needs to be a
wider selection of appliances by type, by brand, and by price range. In
addition, it will take time and education to bring smart appliance
awareness and interest to the forefront of consumers' minds."
One interim technology, which could serve as a bridge to greater
awareness of smart appliances, is smart plugs, according to the report.
These devices act as sensors for conventional appliances and electronic
devices, enabling consumers to track electricity usage by the outlet.
While the number of smart appliances remains low, and prices of
available models remain high, smart plugs may be able to provide
consumers with a way to save money on energy bills while famiiarizing
themselves with smart household technology and its benefits.
The report, "Smart
Appliances", examines the current state of the global smart
appliance market, including an analysis of barriers and drivers,
enabling technologies, regulatory factors, and key industry players. The
study features detailed market forecasts of smart appliance unit
shipments, revenues, and penetration rates, segmented by appliance
product category and key world regions, through 2020. Key industry
players are also profiled in detail. An Executive Summary of the report
is available for free download on the Pike
About Pike Research (News - Alert)
Pike Research, which joined Navigant's global Energy Practice on July 1,
2012, provides in-depth analysis of global clean technology markets. The
team's research methodology combines supply-side industry analysis,
end-user primary research and demand assessment, and deep examination of
technology trends to provide a comprehensive view of the Smart Energy,
Smart Utilities, Smart Transportation, Smart Industry, and Smart
Buildings sectors. Additional information about Pike Research can be
found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) is a specialized, global expert services firm
dedicated to assisting clients in creating and protecting value in the
face of critical business risks and opportunities. Through senior level
engagement with clients, Navigant professionals combine technical
expertise in Disputes and Investigations, Economics, Financial Advisory
and Management Consulting, with business pragmatism in the highly
regulated Construction, Energy, Financial Services and Healthcare
industries to support clients in addressing their most critical business
needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the
report, "Smart Appliances," is a summary and reflects Pike
Research's current expectations based on market data and trend analysis.
Market predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press release
or the report. Please refer to the full report for a complete
understanding of the assumptions underlying the report's conclusions and
the methodologies used to create the report. Neither Pike Research nor
Navigant undertakes any obligation to update any of the information
contained in this press release or the report.
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