The Smart Home Appliances Market to Grow By $ 31.66 bn in 2020|Industry Analysis, Market Trends, and Forecast 2024| Technavio
Technavio has been monitoring the smart home appliances market and it is poised to grow by USD 31.66 bn during 2020-2024, decelerating at a CAGR of over 16% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
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Technavio has announced its latest market research report titled Global Smart Home Appliances Market 2020-2024 (Graphic: Business Wire)
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the smart home appliances market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. AB Electrolux, General Electric Co., Koninklijke Philips (News - Alert) NV, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., and Whirlpool Corp. are some of the major market participants. The adoption of wireless connecting devices will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this smart home appliances market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reorts offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Smart Home Appliances Market 2020-2024: Segmentation
Smart Home Appliances Market is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40419
Smart Home Appliances Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart home appliances market report covers the following areas:
This study identifies growing smartphone penetration and increasing internet speed as a few prime reasons driving the smart home appliances market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
Smart Home Appliances Market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution channel
Drivers, Challenges, and Trends
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