Smart Washing Machine Market Size
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2021 |
| CAGR | > 20.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Smart Washing Machine Market Analysis
A smart washing machine is a laundry machine that consists of a smart washer and dryer that can connect to the network through wi-fi. Anyone can control a smart washing machine using mobile phone apps or using Alexa or Google assistant. Samsung and Hoover were the first manufacturers to launch smart washing machines.
An increase in the use of the Internet of things (IoT) and rapid urbanization drive the growth of the global smart connected washing machine industry. Moreover, the rise in disposable income of people and increase in efficiency of smart connected washing machines such as the use of less electricity and water are expected to boost the market growth. However, the availability of laundry shops and growth in online laundry services hinder the growth of the market. On the contrary, technological and innovative advancements related to smart connected washing machines is anticipated to provide lucrative opportunity for the manufactures operating in this market.
Greater penetration of smartphones and wireless internet connections is helping increase the adoption rate of smart washing machines, across the residential as well as commercial sectors.Installation of these products in the residential areas helps in tracking and controlling the wash to avoid unnecessary wash cycles and water usage, thereby incurring higher demand among residential consumers. Additionally, a significant rise in household luxury spending, as well as greater adoption of smart appliances, are providing an impetus to the growth of the residential segment. Moreover, rising developments in the hospitality sector and hospitals are resulting in continuous demand for convenient and faster laundry washing, thereby increasing demand for smart washing machines in the commercial application segment.
The growth in Smart Washing Machine is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
Smart Washing Machine Market Trends
This section covers the major market trends shaping the Smart Washing Machine Market according to our research experts:
Rise in Demand for Energy Efficient Products is Driving the Market
Manufacturers of washing machines are rapidly developing energy-efficient models in order to lower their carbon footprint and provide consumers with energy savings. The rise of energy-efficient appliances can be attributed to government rules governing electric home appliances as well as technological advancements. Energy-efficient appliances are designed to use the least amount of energy possible to achieve the task at hand. Over 80 countries already have energy-efficient appliance regulations and labeling. ENERGY STAR certified washing machines, for example, use 25% less energy and 33% less water than ordinary washing machines in the United States.
In the forecast period, the growing need for energy-efficient washing machines will propel the smart washing machines market further. To lower carbon footprint and provide energy savings for consumers, the smart washing machine sector is progressively manufacturing energy-efficient technologies. When compared to traditional washing machines, smart washers with Energy Star ratings can save a lot of water. For instance, Samsung's 6.0 cu. ft. FlexWash Washer in Black Stainless Steel model of product with an Energy Star rating and Wi-Fi connectivity uses 4,278 gallons of water per year. Whereas, conventional washing machines wash approximately 300 loads of clothes a year and consume about 12,000 gallons of water in a year.
The smart appliance industry is being reshaped by the introduction of smart appliances that incorporate IoT. Several developments in washing machines have been made in recent years, resulting in increased efficiency in terms of achieving sustainability. Smart washing machines with wi-fi connectivity and innovative features like smart diagnosis, automatic detergent dispensing, smart control, eco-check, and steam-care functions are boosting market growth.
Asia-Pacific is Expected to Witness the Highest Growth
The Asia Pacific market is expected to expand at the fastest growth rate over the forecast period, as smart connected washing machines have gained popularity owing to their compatibility and user-friendliness features. Furthermore, the market expansion is fueled by rising urbanization and an expanding middle-class population. The presence of important market participants in the region also helps to support the development of innovative products to expand the customer base. Furthermore, the desire for smart connected washing machines is fueled by a lack of time for laundry due to a hectic lifestyle. Product demand in this region is expected to be fueled by rising internet penetration and technology improvements in developing economies such as China and India. In India, the average rate of IoT penetration is in the single digits, whereas the global average rate is in the double digits. This creates a huge opportunity for the smart washing machine industry to flourish in Asia Pacific's growing economies.
The Asia-Pacific region has the most price-sensitive customers, forcing companies to use promotional techniques like Black Friday specials, Holiday sales, and additional online deals to boost sales of smart washing machines. Water scarcity and excessive electricity use in densely populated places have prompted a hunt for technologically advanced items such as smart washing machines that have a low global environmental impact.
Smart Washing Machine Industry Overview
This market has many companies fragmented over minor shares. Companies are focusing on expanding their product line through product innovation, particularly in developing economies, to meet the rising demand. Some of the major players in the smart washing machine market are Samsung, LG Electronics, Whirlpool Corporation, Haier Group, Robert Bosch GmbH, Siemens AG, GE Appliances, AB Electrolux, Techtronic Industries, Panasonic Corporation, and Others.
Smart Washing Machine Market Leaders
Samsung
Whirlpool Corporation
Haier
Siemens AG
LG Electronics
*Disclaimer: Major Players sorted in no particular order
Smart Washing Machine Market News
April 2021 - Samsung has launched a bi-lingual washing machine with a Hindi and English user interface powered by artificial intelligence in India. It has Samsung's EcoBubble and QuickDrive technology, which the manufacturer claims saves time and energy while giving 45% more fabric care. The AI learns and remembers washing patterns, then proposes the wash cycle customers use the most. Samsung smart gadgets, such as Galaxy smartphones, Samsung Smart TVs, and Family Hub refrigerators, as well as voice devices like Alexa and Google Home, can be connected to this smart Internet of Things (IoT) enabled washing machine line.
March 2021 - Haier has unveiled a new array of smart washing machines is available in six new variants. It has introduced Super Drum Series – front load fully automatic washing Machine, sporting the industry’s ‘first biggest ever drum’.
Smart Washing Machine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.5 Insights on Consumer Behaviour Analysis
4.6 Technological Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Top Load
5.1.2 Front Load
5.2 By Distribution Channel
5.2.1 Multi-brand Stores
5.2.2 Exclusive Stores
5.2.3 Online
5.2.4 Other Distribution Channels
5.3 By End User
5.3.1 Residential
5.3.2 Commercial
5.4 By Geography
5.4.1 North America
5.4.2 South America
5.4.3 Europe
5.4.4 Asia Pasific
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Whirlpool
6.2.2 Samsung
6.2.3 Haier
6.2.4 Electrolux
6.2.5 LG
6.2.6 Panasonic
6.2.7 Robert Bosch GmbH
6.2.8 Siemens AG
6.2.9 General Electric Co.
6.2.10 Techtronic Industries*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Smart Washing Machine Industry Segmentation
This report provides a complete background analysis of the Smart Washing Machine Market, which includes an assessment of the economy, market overview, market size estimation for key segments, and emerging trends in the market, market dynamics, and key company profiles are covered in the report. The Smart Washing Machine Market is segmented Type into Top Load and Front Load, Distribution Channel into Multibrand Stores, Exclusive Stores, Online, and Other Distribution Channels, End User into Residential and Commercial, and Geography into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. The report offers market size and forecast in value (USD billion) for all the above segments.
| By Type | |
| Top Load | |
| Front Load |
| By Distribution Channel | |
| Multi-brand Stores | |
| Exclusive Stores | |
| Online | |
| Other Distribution Channels |
| By End User | |
| Residential | |
| Commercial |
| By Geography | |
| North America | |
| South America | |
| Europe | |
| Asia Pasific | |
| Middle East and Africa |
Smart Washing Machine Market Research FAQs
What is the current Smart Washing Machine Market size?
The Smart Washing Machine Market is projected to register a CAGR of greater than 20% during the forecast period (2023-2028).
Who are the key players in Smart Washing Machine Market?
Samsung, Whirlpool Corporation, Haier, Siemens AG and LG Electronics are the major companies operating in the Smart Washing Machine Market.
Which is the fastest growing region in Smart Washing Machine Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Smart Washing Machine Market?
In 2023, the North America accounts for the largest market share in the Smart Washing Machine Market.
Smart Washing Machine Industry Report
Statistics for the 2023 Smart Washing Machine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Smart Washing Machine analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
