A recent report published by
Infinium Global Research on smart connected washing machines market provides
in-depth analysis of segments and sub-segments in the global as well as
regional smart connected washing machines market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
smart connected washing machines market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecast and dollar
values of the global smart connected washing machines market. According to the
report, the global smart connected washing machines market is projected to grow
at a CAGR of 4.09% over the forecast period of 2020-2026.
Market Insight
Most smart connected washing
machines available in the market today come with smart features like
thermostats and enhanced self-diagnostics tools. They also have smart grid
ready features that automatically run the washer when electricity rates are the
lowest, collect data to produce custom cycles by studying the number of cycles
run and preferred time for a wash, and download new wash cycles for specific
laundry stains. Also, the machines can come in two forms including washers
(single or twin wash drums), and washer and dryers combined into one unit. As
smart washing machines use smart grid technology and promote efficient energy
utilization, many government bodies are encouraging their use for saving energy
and resources. These machines can be connected with smart grids or with users
at home via Bluetooth, near field communication (NFC), or Wi-Fi. NFC technology
is also used in a smart diagnosis feature that can alert users about technical
issues.
The growing use of wireless
connecting devices and the Internet of Things (IoT) is driving the growth of
the smart connected washing machines market. The Internet of Things (IoT) helps
to connect people and devices to each other via the Internet. Many smart
appliances have gone through transitions due to the growing popularity of IoT,
which integrates digital and wireless technology. Furthermore, the need for
energy-efficient washing machines provides a growing demand for the market. The
rising concern about the high consumption of electricity and the look-out for
energy-efficient alternatives will drive the growth of the smart connected
washing machine market. Smart connected washing machines are designed and
developed for efficiently using energy by connecting them with smart grids, and
automatically 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 connected washing machine market. Most government bodies are
now motivating manufacturers to develop and consumers to adopt domestic
appliances that use smart grids. However, the high cost of smart connected
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 need for convenience is one of the most important factors that
necessitate the development of products that can reduce manual labor.
Among the geographies, the Asia
Pacific dominated the global smart connected washing machine market. Countries
such as China, India, and Japan hold a major share of the smart connected
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 connected 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 connected washing machine market in the North America
region.

Segment Covered
The report on global smart
connected washing machines market covers segments such as product, and end
user. On the basis of product, the sub-markets include top load, and front
load. On the basis of end user, the sub-markets include residential, and
commercial.
Companies Profiled:
The report provides profiles of
the companies in the market such as Commercial, Siemens AG, LG Electronics
Inc., AB Electrolux, Whirlpool Corporation, Haier Group, Robert Bosch GmbH,
Techtronic Industries, and GE Appliances.
Report Highlights:
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the smart connected washing machines market. Moreover, the study
highlights current market trends and provides forecast from 2020-2026. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.