Smart Connected Washing Machines Market [2023-2031] Global Demand, Opportunities, Trends

The global smart connected washing machines market size was US$ 1,920.2 million in 2021. The global smart connected washing machines market is forecast to grow to US$ 2,751.6 million by 2030 by registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.

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Factors Influencing the Market
The growing trend of smart cities and smart homes will primarily drive the growth of the smart connected washing machines market during the forecast period. Residential smart grid adoption will give users a simple interface to track their electricity use. With the introduction of smart grids, modernization, and technological advancements, the use of smart products will significantly increase. Apart from that, the growing initiatives toward smart cities are expected to bring lucrative growth opportunities for the smart connected washing machines market during the study period.
The benefits of smart connected washing machines, such as time and cost savings, easy operations, and low energy consumption, will prompt the demand for smart connected washing machines during the study period.
Growing technological advancements are forecast to increase the prospects for market growth during the study period. For instance, LG Electronics (LG) launched its advanced innovation in laundry in 2020. The company deploys artificial intelligence to bring innovation and deliver advanced services to users. Apart from that, Samsung Electronics Co., Ltd. also unveiled a series of new Home Appliances, including a full smart laundry line-up, in 2020. Thus, the growing efforts by industry players is forecast to benefit the smart connected washing machines market during the study period.
On the contrary, the high cost of smart connected washing machines may limit the growth of the market during the study period.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, government authorities imposed restrictive containment measures, such as social distancing, remote working, and the closure of commercial activities. As a result, the situation became challenging for the companies thriving in the smart connected washing machines market. Various firms halted their operations due to scarcity of raw materials, which ultimately affected the revenue generation of the smart connected washing machines market.

Regional Analysis
The Asia-Pacific smart connected washing machines market is forecast to record a high growth rate, owing to the rising disposable income and the presence of a wide range of industry players, such as Samsung Group, LG Electronics Inc., etc.
Europe is forecast to hold the second-largest share in the smart connected washing machines market due to the advanced lifestyle of people and growing awareness about the benefits of smart connected washing machines, such as energy-saving, easing operability, less time consumption, etc. Apart from that, the presence of a wide range of manufacturers in this region, such as Siemens AG, AB Electrolux, Robert Bosch GmbH., etc., will also benefit the overall European market for smart connected washing machines.

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Competitors in the Market
• Samsung Group
• Siemens AG
• LG Electronics Inc.
• AB Electrolux
• Whirlpool Corporation
• Haier Group
• Whirlpool Corporation
• Robert Bosch GmbH
• Techtronic Industries
• GE Appliances
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Smart Connected Washing Machines industry experienced notable growth in its workforce. Starting in January, employment within the Smart Connected Washing Machines sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Smart Connected Washing Machines output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector's production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Smart Connected Washing Machines output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Smart Connected Washing Machines market, remains both its largest producer and consumer. Remarkably, China's market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation's GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Smart Connected Washing Machines market.

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Market Segmentation
The global smart connected washing machines market segmentation focuses on Product, End-Users, and Region.
By Product Type Outlook
• Top Load
• Front Load
By End-Users Outlook
• Commercial
• Residential
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Smart Connected Washing Machines Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Smart Connected Washing Machines Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Smart Connected Washing Machines Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Smart Connected Washing Machines Market Size (2023-2031)

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• Analyzing market trends to aid businesses in devising adaptive strategies.

• Guiding businesses in the optimal placement of their products.

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