Smart Connected Washing Machines Market worth USD 2,759.6 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Smart Connected Washing Machines Market by Product Type (Top Load and Front Load), by End-Users (Commercial and Residential), by Region – Global Share and Forecast to 2030".

The market size of the global smart connected washing machines was USD 1,922.2 million in 2021. The market is projected to grow at a CAGR of 4.2% to reach USD 2,759.6 million by 2030. The rising concern about electricity consumption and the look-out for energy-efficient substitutes will drive the smart connected washing machine market. Smart connected washing machines are designed and developed for efficiently using energy by connecting them with smart grids, and automatically scheduling wash cycles using time-based electricity programs to ensure the washing machine is operating during off-peak hours, when energy prices are cheaper. Smart appliances offer consumers new functionality that can enable added convenience and even more savings. They come with future-oriented smart grid capabilities that could support a more reliable, less polluting electric grid. Moreover, the washing machines adjust cycle time automatically with incorporated sensors to help consumers reduce their energy usage. This feature ensures that the smart connected washing machines will automatically shut off when clothes are washed.

Global Smart Connected Washing Machines Market Segmentation

The smart connected washing machines market has been segmented into the product type, end-users, and region.

• By Product Type (Top Load and Front Load)
• By End-Users (Commercial and Residential)
• By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)

Residential, by end-users, is estimated to hold the largest market share during the forecast period

By end-users, the global smart connected washing machine market is categorized into two major segments, including residential and commercial. In 2021, the residential segment generated the highest revenue in the global smart connected washing machine market. The smart connected washing machines are connected with a Wi-Fi network, and one can control it wherever and whenever one wants with their smartphone or tablet. Around 66% of customers agree that connected devices have the potential to make their life easier, resulting in higher demand for the market. Increasing spending power and the emergence of smart home trends is the prime factor driving the global demand for the smart washing machine market.

Furthermore, the increased government support for promoting smart homes and smart appliances acts as a motivating factor for the manufacturer to develop and consumers to adopt domestic appliances that use smart grids; thus, the adoption of smart grids in residences will provide customers with an easy interface to monitor their electricity use.

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Asia Pacific accounted for the largest market share in 2021

Based on the regions, the global smart connected washing machines market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific had the largest market share of 42.5% in the global smart connected washing machines market. The Asia-Pacific market is driven by technological advancements and internet penetration rates in developing economies, such as China and India. As per the China Internet Network Information Center, internet penetration in China is 59.3%.

Presence of major market players such as LG Electronics, Haier Group, Samsung Group, Techtronic Industries has offered huge opportunities for the smart connected washing machine market in the Asia Pacific region. Other major players also tend to actively work for the development of innovative products in order to expand the customer base. For instance, Xiaomi Global Community launched a fully automatic smart connected washing machine equipped with the latest technology in the Chinese market in 2018 with a load capacity of 10 kg. It is equipped with the latest BLDC variable frequency motor and is priced at around USD 290. The growing use of water and electricity in densely populated regions has boosted the market growth, thereby motivating manufacturers to develop products that minimize the global environmental impacts.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the smart connected washing machines market. It also consists of the profiles of leading companies such as Samsung Group, LG Electronics Inc., Siemens AG, Whirlpool Corporation, AB Electrolux, Whirlpool Corporation, Haier Group, Techtronic Industries, Robert Bosch GmbH, and GE Appliances.

Browse complete report: https://www.marketstatsville.com/smart-connected-washing-machines-market

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