Smart Washing Machine Market

Smart Washing Machine Market by Products (Front Load and Top Load), Capacities (Less Than 6 Kg, 6-10 Kg, and More Than 10 Kg), Applications (Residential and Commercial), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-374
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 134
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global smart washing machine market was valued at USD 5.8 billion in 2020 and is projected to expand at a CAGR of 20.6% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing demand for commercial laundry equipment due to the rising incidence of laundry services.

A smart washing machine is an Internet of Things (IoT)-based clothes washing appliance, which helps the user to monitor and operate the washing procedure using smartphones or other smart electronic devices. Increasing usage of smartphones in day-to-day life has resulted into the higher demand for smart washing machines. These machines can be operated by installing the application on the users’ smartphones, which need to connect to the internet using Wi-Fi network. Using the application, the users can monitor the washing procedures including washing, spinning, and rinsing the laundry besides providing information regarding the remaining countdown timing for washing. It automatically notifies with alarm when it completes the washing process and the app can automatically detect if there is error in the machine or its functions.

Global Smart Washing Machine Market Summary

The growing trend of using connected devices for smart home appliance and higher demand for smart washing machines in smart homes, especially among the consumers of developed countries including the US is a key aspect of the market expansion. As per a report of Digitized House Media, every 3 out of 5 people in America use smart home products to enhance their smart home setting and are widely monitored using smartphones. Increasing global concern on water scarcity is a key factor to be considered, which urge the manufacturers to design water-effective technology to minimize the water waste or excessive use of water. Unlike conventional washing machines, smart washing machines are widely adopted among environment-conscious people as these smart machines can save several gallons of water.

For instance, Samsung’s 6.0 FlexWash washer based on stainless-steel version of product, which is equipped with an energy saving technology and Wi-Fi connectivity, only uses 4,278 gallons of water per year as compared to 12,000 gallons used by conventional washing machines. Over the years, consumers are increasingly adopting efficient and technologically advanced washing appliances.

Market Trends, Drivers, Restraints, and Opportunities

  • Factors such as easy accessibility and user-friendly of the machines using a smartphone are acting major factors driving the market growth.
  • Rising disposable income of consumers and increasing number of working populations who need frequent laundry services are another key factor expected to boost the market.
  • High penetration of IoT and wide adoption of smart house among a large number of populations in developed countries are projected to fuel the market growth.
  • High prices of smart washing machines compared to conventional washing machines are expected to hinder the market growth during the forecast period.
  • Growing R&D activities from globally leading electronic manufacturing companies for the development of innovative and advanced featured washing machines are presenting immense opportunities for the market expansion.

Scope of the Report

The report on the global smart washing machine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Global Smart Washing Machine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Products (Front Load and Top Load), Capacities (Less Than 6 Kg, 6-10 Kg, and More Than 10 Kg), and Applications (Residential and Commercial)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Americair Corporation, Blueair, COWAYCO. LTD., Dyson, Honeywell International Inc., Koninklijke Philips N.V., Sharp Corporation, Sunbeam Products, Inc., Whirlpool, and Xiaomi Corporation

 

Global Smart Washing Machine Market Segment Insights

Front load segment is anticipated to dominate the market
Based on products, the market is bifurcated into front load and top load. The front load segment is anticipated to dominate the market expanding at a considerable CAGR during the forecast period owing to the increasing willingness of consumers towards purchasing the conventional front loading washing machines. Wide adoption of the front load smart machines in commercial laundry centers present a key factor driving the segment growth. On the other hand, the top load segment is projected to exhibit a CAGR of 23.8% during the forecast period owing to its convenience to use and availability of lower prices products. Rising demand for the product type from a large number of middle-class customer base is another major factor contributing to the segment growth.

Global Smart Washing Machine Market By Product

6-10 kg segment is projected to account for a large market share
On the basis of capacities, the market is segmented into less than 6 kg, 6-10 kg, and more than 10 kg. The 6-10 kg segment is projected to account for a large market share during the analysis period owing to the wide popularity of the products among middle-class families and rising adoption for household uses. Whereas, the more than 10 kg segment is anticipated to expand at a CAGR of 23.9% during the forecast period due to the large adoption of the products owing to large capacity for washing heavy clothes and large number of other clothes. Factors such as growing occurrence of commercial laundry services over the globe is helping to expand the segment growth. For instance, enlarged application of the coin laundry services in the U.S. has increased the implementation of front-load washing machines with 8-22 kg capacity.

Residential segment is projected to register a large market share
Based on applications, the market is bifurcated into residential and commercial. The residential segment is projected to register a large market share in the coming years owing to the increasing disposable income of consumers across the emerging countries including India, China, and Brazil. To effective use of wash cycles as well as avoid the excessive water usage, these products are largely getting installed in the residential sectors. However, the commercial segment is expected to surpass a CAGR of 23.6% during the forecast period due to the rapidly shifting of consumer preference towards the coin laundry and online laundry services in the developing countries, especially in Asia Pacific.

North America is expected to account a large market share
In terms of regions, the global smart washing machine market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a large market share in the coming years owing to the growing adoption of smart appliances by a large number of populations in this region. The demand for smart washing machines is higher in the U.S. and Canada due to the shifting consumer preference towards energy-efficient and water-saving products. Meanwhile, the market in Asia Pacific is anticipated to expand at a significant CAGR of 20.9% during the analysis period owing to the expanding internet penetration as well as wide adoption of smart laundry machines among consumers in emerging countries including India and China. As per a report of China Internet Network Information Center (CNNIC), the penetration of internet is 59.6% across the country.

Global Smart Washing Machine Market By Region

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Washing Machine Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Washing Machine Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Washing Machine Market - Supply Chain
  4.5. Global Smart Washing Machine Market Forecast
     4.5.1. Smart Washing Machine Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Washing Machine Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Washing Machine Market Absolute $ Opportunity
5. Global Smart Washing Machine Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Smart Washing Machine Market Size and Volume Forecast by Types
     5.3.1. Front Load
     5.3.2. Top Load
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Smart Washing Machine Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Smart Washing Machine Market Size and Volume Forecast by Applications
     6.3.1. Residential
     6.3.2. Commercial
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Smart Washing Machine Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Smart Washing Machine Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Smart Washing Machine Demand Share Forecast, 2019-2026
8. North America Smart Washing Machine Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Smart Washing Machine Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Smart Washing Machine Market Size and Volume Forecast by Types
     8.4.1. Front Load
     8.4.2. Top Load
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Smart Washing Machine Market Size and Volume Forecast by Applications
     8.7.1. Residential
     8.7.2. Commercial
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Smart Washing Machine Demand Share Forecast, 2019-2026
9. Latin America Smart Washing Machine Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Smart Washing Machine Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Smart Washing Machine Market Size and Volume Forecast by Types
     9.4.1. Front Load
     9.4.2. Top Load
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Smart Washing Machine Market Size and Volume Forecast by Applications
     9.7.1. Residential
     9.7.2. Commercial
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Smart Washing Machine Demand Share Forecast, 2019-2026
10. Europe Smart Washing Machine Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Smart Washing Machine Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Smart Washing Machine Market Size and Volume Forecast by Types
     10.4.1. Front Load
     10.4.2. Top Load
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Smart Washing Machine Market Size and Volume Forecast by Applications
     10.7.1. Residential
     10.7.2. Commercial
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Smart Washing Machine Demand Share Forecast, 2019-2026
11. Asia Pacific Smart Washing Machine Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Smart Washing Machine Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Smart Washing Machine Market Size and Volume Forecast by Types
     11.4.1. Front Load
     11.4.2. Top Load
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Smart Washing Machine Market Size and Volume Forecast by Applications
     11.7.1. Residential
     11.7.2. Commercial
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Smart Washing Machine Demand Share Forecast, 2019-2026
12. Middle East & Africa Smart Washing Machine Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Smart Washing Machine Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Smart Washing Machine Market Size and Volume Forecast by Types
     12.4.1. Front Load
     12.4.2. Top Load
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Smart Washing Machine Market Size and Volume Forecast by Applications
     12.7.1. Residential
     12.7.2. Commercial
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Smart Washing Machine Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Smart Washing Machine Market: Market Share Analysis
  13.2. Smart Washing Machine Distributors and Customers
  13.3. Smart Washing Machine Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Americair Corporation
     13.4.2. Blueair
     13.4.3. COWAYCO. LTD.
     13.4.4. Dyson
     13.4.5. Honeywell International Inc.
     13.4.6. Koninklijke Philips N.V.
     13.4.7. Sharp Corporation
     13.4.8. Sunbeam Products, Inc.
     13.4.9. Whirlpool
     13.4.10. Xiaomi Corporation
Segments Covered in the Report
The global smart washing machine market has been segmented based on
Products
  • Front Load
  • Top Load
Capacities
  • Less than 6 kg
  • 6-10 kg
  • More than 10 kg
Applications
  • Residential
  • Commercial
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Americair Corporation
  • Blueair
  • COWAYCO. LTD.
  • Dyson
  • Honeywell International Inc.
  • Koninklijke Philips N.V.
  • Sharp Corporation
  • Sunbeam Products, Inc.
  • Whirlpool
  • Xiaomi Corporation

Some key players competing in the global smart washing machine market include Americair Corporation, Blueair, COWAYCO. LTD., Dyson, Honeywell International Inc., Koninklijke Philips N.V., Sharp Corporation, Sunbeam Products, Inc., Whirlpool, and Xiaomi Corporation. These leading market players are using strategies including merges, acquisition, new launches, and product development to build their strong position in the market. The R&D and innovation are the key strategies that are widely adopted by players to enhance their market share.

For instance, in April 2019, TCL Corp. introduced its new range of smart home appliances especially washing machines in India. The company launched TCL B-series, G-series, and K-series washing machines with front and top-loading capacity. In another event in August 2020, Xiaomi revealed its strategy to expand its smart appliances portfolio in India with the launch of an Internet-enabled washing machine. It was the first ever washing machine available in Indian market manufactured by Xiaomi.

Global Smart Washing Machine Market Competitive Landscape

Buy Report