North America Smart Home/Kitchen Appliances Market Growth, Trends, COVID-19 impact and Forecast (2020-2025)
The North America Smart Home/ Kitchen appliances Market has been segmented into Smart Home Appliances (Washer, Dryer, Air Conditioner, Vacuum Cleaner), Smart Kitchen Appliances; Technology (Wi-Fi, NFC, Bluetooth, and others); Region (the US, Canada, and Mexico).
Introduction
Smart home/kitchen appliances refer to the introduction of microprocessors and computer technology to the production of electrical equipment, the formation of the intelligent kitchen, electrical products with active monitoring of their own failure and active control and active adjustment, and other intelligent functions.
These devices can also communicate with the smart grid, responding to utility signals that provide consumers with reminders to use these appliances during off-peak periods.
The growing emphasis on energy efficiency measures has influenced home/kitchen appliance manufacturers to launch eco-friendly appliances with high ENERGY STAR ratings for energy efficiency.
The COVID-19 pandemic has severely impacted the growth of the smart appliances industry as supply chain disruption has resulted in a decline in demand for smart home systems globally.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6. Five Force analysis
7. Market Sizing
8. Market segmentation
9. Geographical Landscape
9.1 US
9.2 Canada
9.3 Mexico
10. Growth drivers
10.1 Rising consumer disposable income and changing lifestyle
10.2 Increasing adoption of smart home/kitchen appliances in residential as well
as commercial sectors
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 General Electric Co.
15.2 Whirlpool Corp
15.3 Samsung
15.4 LG Electronics
15.5 Philips
15.6 Neato
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
North America Smart Home/ Kitchen Appliances Market is expected to grow to $8.2 billion by 2025 and is forecasted to lead the global market, accounting for nearly 33% of the global market.
Growth momentum is expected to accelerate during the forecast period with 18.2% CAGR.
In North America, the increasing number of smart homes construction in the US is expected to increase significantly during the next few years due to a growing number of connected devices.
Key Trends
M2M (Machine to Machine) communication has become a trend in the smart appliances market.
The growing demand for product innovations from the consumers, increasing technological trends such as Internet of Things (IoT) and Artificial Intelligence (AI) enabled devices are expected to fuel the market growth in the future.
Key Market Players
The most prominent players in the market are General Electric Co., Whirlpool Corp., Neato, Samsung, LG Electronics, Philips, and others.
Key players in the smart home/kitchen appliances market are focusing on the online distribution channels for their online marketing and branding of their products to attract more customers
Growth Drivers and Challenges
Rising consumer disposable income, changing lifestyle, health, safety, and convenience are spurring the market growth.
Increasing adoption of smart home/kitchen appliances in residential as well as commercial sectors across the world is also one of the prominent factors driving the market growth.