The global smart washing machines market size is expected grow from $14.87 billion in 2021 to $15.93 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The growth in the market 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. The smart washing machine market is expected to reach $20.83 billion in 2026 at a CAGR of 6.9%.
What is the Global Smart Washing Machines Market?
The smart washing machine market consists of sales of smart washing machines and related services. The sales comprise of revenues generated by establishments that are primarily engaged in the manufacturing and selling of smart front load, Inclined Load and top load smart washing machines. Smart washing machine is defined as the machine which helps the user to control the washing process remotely. Smart washing machines are connected to the internet and to smart phone, or other smart devices through the cloud or app. The connectivity gives more control on the machine, and user can decide its activity through the commands on the app or through other means like voice.
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What drives the Global Smart Washing Machines Market?
The increasing need for energy-efficient washing machines will drive the growth of the smart washing machines market in the forecast period. Smart washing machines increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient washing machines can be attributed to the stringent government regulations on electric home machines and advances in technology. According to the U.S. Energy Information Administration (EIA), the demand for global energy will grow by 37% due to a rise in energy requirements per household by 2035. Energy-efficient machines are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient machines. Thus, smart washing machines will drive the smart washing machines market in the forecast period.
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Global Smart Washing Machines Market Segments
The global smart washing machines market is segmented:
By Type: Top Load, Front Load
By Application: Residential, Commercial
By Connectivity: Wi-Fi, Bluetooth, Near-Field-Communication (NFC), Others
By Geography: The regions covered in the smart washing machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Smart Washing Machines Global Market Report 2022 provides market size and growth forecasts for the global smart washing machines market, global smart washing machines market share, smart washing machines market segments and geographies, smart washing machines market competitive landscape including leading competitors’ revenues, profiles and market shares. The smart washing machines market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Smart Washing Machines Industry Players include General Electric Co., LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corp., Robert Bosch GmbH, Haier Consumer Electronics Group Co. Ltd., Panasonic Corp., Siemens AG, AB Electrolux, and Whirlpool. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
