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Chinese Leading the Charge in the Surging Global Smart Appliance Market
Smart Appliance Market Research, Analysis and Commentary
02 Aug 2018 - According to the latest home appliance report from Futuresource Consulting, smart appliance shipments, specifically Wi-Fi connected laundry and refrigeration appliances, are anticipated to double yet again in volume terms by the end of 2018. Connectivity and voice assistance technologies are cited as major growth drivers, especially in areas of the smart home such as lighting and climate control.
“The smart appliances category is becoming more significant, taking more share as connectivity is being introduced to a wider range of mid-range price segments,” commented Filipe Oliveira, Market Analyst at Futuresource Consulting. “Major manufacturers such as LG, Whirlpool and even the lower end brands Beko, have all announced new models that work with leading voice assistants - Alexa and the Google Assistant.”
The Futuresource Home Appliance report states that by the end of 2018, 9% of all laundry and refrigeration appliances will be smart worldwide. It also affirms that China has become the biggest smart appliance market in the world and predicts that 19% of all Chinese appliances shipped in 2018 are expected to be smart.
“The Futuresource market tracker demonstrated how value is growing faster than volume due to slight increases in unit prices; the trend is towards premiumisation, such as built-in appliances, stylish design, large capacity washing machines and multi-door fridges,” added Oliveira.
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Futuresource Consulting is a specialist research and knowledge-based consulting company, providing organisations with insight into consumer electronics, digital imaging, entertainment media, broadcast, storage media, education technology and IT. With a heritage stretching back to the 1980s, the company delivers in-depth analysis and forecasts on a global scale, advising on strategic positioning, market trends, competitive forces and technological developments. www.futuresource-consulting.com
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