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China leads the charge in ‘surging’ global smart appliance market, says Futuresource

China leads the charge in ‘surging’ global smart appliance market, says Futuresource

Posted by Anasia D'melloAugust 9, 2018

According to the latest home appliance report from Futuresource Consulting, smart appliance shipments, specifically Wi-Fi connected laundry and refrigeration appliances, are anticipated to double yet again in volume terms by the end of 2018.

Connectivity and voice assistance technologies are cited as major growth drivers, especially in areas of the smart home such as lighting and climate control.

“The smart appliances category is becoming more significant, taking more share as connectivity is being introduced to a wider range of mid-range price segments,” comments Filipe Oliveira, market analyst at Futuresource Consulting. “Major manufacturers such as LG, Whirlpool and even the lower end brands like Beko, have all announced new models that work with leading voice assistants, Alexa and the Google Assistant.”

“The Futuresource market tracker demonstrated how value is growing faster than volume due to slight increases in unit prices; the trend is towards ‘premiumisation’, such as built-in appliances, stylish design, large capacity washing machines and multi-door fridges,” added Oliveira.

Futuresource Consulting is a research and knowledge-based consulting company, providing organisations with insight into consumer electronics, digital imaging, entertainment media, broadcast, storage media, education technology and IT.

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