Chinese Leading the Charge in the Surging Global Smart Appliance Market

Smart Appliance Market Research, Analysis and Commentary

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 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.

Date Published: 02 Aug 2018

Consumer Electronics

About the author

Julian Issa

Julian Issa is Futuresource Consultancy’s lead analyst in intelligent home and vision. His work at Futuresource has focused on identifying how global dynamics and new technologies are shaping smart consumer trends, as well as forecasting the trajectory and potential success of smart home devices across different markets.

His latest work in intelligent home has looked to identify opportunities presented by a subscription business model and how the global pandemic has shifted consumer perception of smart devices. Julian was previously an analyst and director at Global Business Reports where he lived and worked across six continents investigating the latest trends and business models impacting the smart tech, biotech, and industrial tech industries.

Julian received an M.Sci from the University of Bristol, UK, where he specialized in geopolitics and environmental policy. An alumni scholar of the Guildhall School of Music & Drama, Julian spent 3 years singing opera semi-professionally.