Research Report on Smart Washing Machines Market in Global-2026

 The Infinium Global Research analyzes the Smart Washing Machines Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global smart washing machines market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of smart washing machines. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the smart washing machines market during the period. The global smart washing machines market is projected to grow at a CAGR of 19.5% over the forecast period of 2020-2026.

"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026." 

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Growing Use of Wireless Connecting Devices and the Internet of Things (IoT) is Driving the Growth of the Smart Washing Machines Market

Wireless connectivity is now being extended to a wide range of household appliances moving beyond smartphones and tablets, enabling them to collect and exchange data. The growing use of wireless connecting devices and the Internet of Things (IoT) is driving the growth of the smart washing machines market. Furthermore, the need for energy-efficient washing machines provides a growing demand for the market. Growing demand for energy-efficient home appliances is influencing the adoption of smart washing machines. It is designed and developed for capably using energy by connecting them with smart grids. A smart washing machine is mechanically scheduling wash cycles using time-based electricity programs to ensure the washing machine is operating during off-peak hours when energy prices are cheaper.

Additionally, the increased government support for promoting smart homes and smart appliances is another major growth driver for the global smart washing machine market. The majority of governments are now encouraging manufacturers to develop and consumers to adopt domestic appliances that use smart grids. However, the high cost of smart washing machines is a major restraining factor that will likely affect their adoption, and in turn, the growth of the market. Owing to this high-cost factor, it becomes difficult for manufacturers to convince consumers to upgrade their regular washing machines with the smart connected variety.

Moreover, rapid technological advancement is provided significant growth opportunities for the market. The current concerns over the spread of coronavirus are creating a huge impact on the smart washing machines market. COVID-19 pandemic affected the global smart washing machines market by hindering production and demand, by disrupting the supply chain and appliance market disruption, and by its impact on firms and the financial markets. The worldwide appliance industry is heavily dependent on Chinese manufacturers. Lockdown in China has caused severe demand-supply gaps in the industry. The gap in the demand-supply chain will hinder the functioning of the flourishing smart appliances industry.

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Asia Pacific Dominated the Global Smart Washing Machine Market

Among the geographies, the Asia Pacific dominated the global smart washing machine market. Countries such as China, India, and Japan hold a major share of the smart washing machine market in the Asia Pacific and offers significant growth potential in this region. The Asia-Pacific market is largely driven by technological advancements and internet penetration rate in developing economies, such as China and India. According to the China Internet Network Information Center (CNNIC), internet penetration in China is 59.3%. Europe holds the second-largest market share for the smart washing machine market. Technological advancements that have increased comfort level and convenience for customers are collectively fueling the growth of the market in the European region. The increased spending power of the people and growing working women populace in countries such as the U.S. and Canada boosts the growth of the smart washing machine market in the North America region.

Smart Washing Machines Market: Segmentation

The report on global smart washing machines market covers segments such as product type, connectivity, and end user. On the basis of product type, the sub-markets include top load, and front load. On the basis of connectivity, the sub-markets include Wi-Fi, NFC (near-field communication), bluetooth, and others. On the basis of end user, the sub-markets include residential, and commercial.

Smart Washing Machines Market: Competitive Analysis

The report provides profiles of the companies in the market such as Siemens AG, LG Electronics Inc., AB Electrolux, Whirlpool Corporation, Haier Group, Robert Bosch GmbH, Techtronic Industries, GE Appliances, Samsung Electronics, and Candy Group.

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