Smart Home Appliances Market - Expected to Reach $38.35 Billion, Worldwide, By 2020

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Jan 18, 2016, 12:10 ET

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DUBLIN, Jan. 18, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/bm4wc6/world_smart_home) has announced the addition of the "World Smart Home Appliances Market Opportunities and Forecasts, 2014 - 2020" report to their offering.

Smart home appliances are next-generation home appliances that can receive, process and transmit information and communicate with devices such as smartphones, tablets and laptops to enable the user get real time information on the appliance along with remote access and control.

According to the U.S. Energy Information Administration, the global energy demand will increase by nearly 37% by 2035. The energy requirement per household has continually increased due to the aggrandized use of home appliances, creating a demand/supply gap for power companies.

In this scenario, smart home appliances would facilitate real-time communication, enabling the user to operate the appliance at lower frequencies or shift the operating time to off-peak period. Thus, smart home appliances offer a revolutionary feature to consumers such as convenience, enhanced security and improved energy efficiency.

Smart home appliances market is expected to witness a significant growth during the analysis period, owing to the technological advancement in electronics and communication sectors and the growing need of energy efficiency. Additionally, increasing purchasing power and improving lifestyle would also foster the demand for smart home appliances, globally.

North American market is presently dominating the global market, owing to favorable market conditions and adequate awareness among customers regarding smart home appliances. However, the Asia-Pacific region is anticipated to emerge as a market leader post 2017, owing to rising demand of these appliances in the China, India and Japan. Key Benefits:

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