Smart appliance market to reach nearly $35 billion annually by 2020, forecasts Pike Research

Pike Research Pike Research

According to a recent report from Pike Research, a part of Navigant’s Energy Practice, the annual value of the smart appliance market will grow from $613 million in 2012 to $34.9 billion in 2020.

As utilities around the world deploy smart meters, smart appliances have a significant role to play in realising the vision of the smart grid. Currently, these appliances are limited in terms of availability and types of products, but they will start to represent an increasing share of the total appliance market after 2015.

“The market for smart appliances has not developed as quickly as anticipated, due primarily to the fact that there are very few smart appliances commercially available,” says senior research analyst Bob Lockhart.

One interim technology, which could serve as a bridge to greater awareness of smart appliances, is smart plugs, according to the report. These devices act as sensors for conventional appliances and electronic devices, enabling consumers to track electricity usage by the outlet.

While the number of smart appliances remains low, and prices of available models remain high, smart plugs may be able to provide consumers with a way to save money on energy bills while familiarising themselves with smart household technology and its benefits.

“In order for this market to flourish, there needs to be a wider selection of appliances by type, by brand, and by price range. In addition, it will take time and education to bring smart appliance awareness and interest to the forefront of consumers’ minds,” Lockhart concluded.

The report, “Smart Appliances”, examines the current state of the global smart appliance market, including an analysis of barriers and drivers, enabling technologies, regulatory factors, and key industry players.

The study features detailed market forecasts of smart appliance unit shipments, revenues, and penetration rates, segmented by appliance product category and key world regions, through 2020. Key industry players are also profiled in detail.

RECENT ARTICLES

DANA bolsters financial inclusion in Indonesia with HERE Technologies

Posted on: August 9, 2022

Jakarta, Indonesia. 04 August, 2022 – HERE Technologies, the location data and technology platform, announced that DANA, one of Indonesia’s digital wallet services, is utilising HERE location services to bolster inclusive financial services in the country.

Read more

Putting fleets in the fast lane: AT&T Fleet Complete launches FC Hub, a suite of next-gen fleet management tools

Posted on: August 9, 2022

Dallas, United States. 05 August, 2022 – Fleet Complete is introducing AT&T Fleet Complete FC insights solution suite, a big data IoT platform with web and mobile apps for fleets to monitor and manage all aspects of their mobile operations.

Read more
FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox