Europe Smart Home Appliances Market
The Europe smart home appliances market valued at US$ 4.08 Bn in 2018 and is expected to grow at a CAGR of 13.9% during the forecast period 2019 - 2027, to generate US$ 12.94 Bn by 2027.
Smart home appliances present a great opportunity to reduce energy usage in residential buildings/households. Smart homes equipped with smart appliances are an integral part of smart grid development in any country. The demand for Europe smart home appliances market is expected to be driven by rising need for energy saving, increasing security concerns, and initiatives taken by government. Security concern is another factor fueling the growth of Europe smart home appliances market. However, standardization and Interoperability issues may hinder the Europe smart home appliances growth to certain extent.
Market Insights
Favorable strategies driving the growth of smart home appliances in Europe
The European commission strategies such as Digital agenda, Digital Single Market for the growth of digital economy aim at giving better access of digital goods and services to consumers across Europe. These policies are driving the growth of digital economy in Europe which includes smart homes and smart home appliances. Efforts are being taken by Europe for ICT standardization which is an essential aspect to facilitate interoperability within the Digital Single Market. This will further push the development and deployment of advanced technologies like 5G, IoT, AI, cloud services, data driven services, smart transport, smart energy and smart home systems in Europe.
Product Insights
The Europe smart home appliances market by type was led by energy & lighting. Smart home appliances offer a great alternative to increase energy efficiency by monitoring energy usage of various smart appliances like smart light bulbs & lighting systems, smart thermostats, smart boiler and others. The smart appliances communicate with each other and also with energy control systems like smart meters to anticipate the energy peaks and lows. This interaction between smart devices and energy systems helps in observing and analyzing the energy usage pattern and with use of technologies like artificial intelligence the energy consumption can be optimized.
End-user Insights
The Europe smart home appliances market is segmented based on commercial and residential. Commercial buildings can also implement smart home technology for several benefits including, reduction of waste. Also, other commercial buildings may use data gathered and with information, they can improve control make decisions that impact the productivity as well as efficiency of their people, systems, as well as, work environments. Hospitality is one the major end-user of smart home appliances in the commercial segment of Europe smart home appliances market.
Strategic Insights
System integrators as well as electricians plays an essential part in automating homes in the European region. However, advancements in technologies in the home automation market are resulting in making homes smarter. New service providers including insurance and energy companies are also taking part in the market space.
2019: the U.K. developer Urban Splash announced that it is building a new set of smart homes that are set to arrive in Manchester later this year. The project, Mansion House is launched in partnership with the architecture firm Shedkm.
2018: Electrolux expanded its partnership with Google by integrating connected kitchen products in Europe with the Google Assistant.
2018: Vodafone España added a smart home offering to its all-in-one quad-play service spanning fibre, mobile and TV.
Europe Smart Home Appliances Market – By Product
• Appliances
• Energy & Lighting
• Security Measures
• Health & Fitness
Europe Smart Home Appliances Market – By Technology
Europe Smart Home Appliances Market – By End-user
Europe Smart Home Appliances Market – By Country
Company Profiles
Strategic insights for the Europe Smart Home Appliances provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 4.08 Billion |
| Market Size by 2027 | US$ 12.94 Billion |
| Global CAGR (2019 - 2027) | 13.9% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Smart Home Appliances refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The List of Companies
The Europe Smart Home Appliances Market is valued at US$ 4.08 Billion in 2018, it is projected to reach US$ 12.94 Billion by 2027.
As per our report Europe Smart Home Appliances Market, the market size is valued at US$ 4.08 Billion in 2018, projecting it to reach US$ 12.94 Billion by 2027. This translates to a CAGR of approximately 13.9% during the forecast period.
The Europe Smart Home Appliances Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Smart Home Appliances Market report:
The Europe Smart Home Appliances Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Smart Home Appliances Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Smart Home Appliances Market value chain can benefit from the information contained in a comprehensive market report.
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