Smart Appliance Market to Reach Nearly $35 Billion Annually by 2020

February 6, 2013

As utilities around the world deploy smart meters, smart appliances (which use an intelligent power management strategy to optimize the load on the power distribution grid) have a significant role to play in realizing 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.  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.

“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.  “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.”

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 familiarizing themselves with smart household technology and its benefits.

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.  An Executive Summary of the report is available for free download on the Pike Research website.

Contact: Richard Martin

+1.303.997.7609

richard.martin@navigant.com

* The information contained in this press release concerning the report, “Smart Appliances,” is a summary and reflects Pike Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Data Services

An interactive data visualization platform with online access to global forecasts spanning the energy, utility, transportation, and buildings industries.

More Information

Research News

Rss
Capacity of Lithium Ion Batteries for Plug-In Electric Vehicle Second-Life Stationary Energy Storage is Expected to Grow 10 GWh From 2022 to 2035
Automotive original equipment manufacturers have new business models for developing stationary energy storage system projects • A recent report from Navigant Research explores the concept of reusing plug-in electric vehicle…
Read More »
Cumulative Global Wind Blade Revenue is Expected to Total $72.4 Billion from 2016 to 2025
Consolidation in the wind turbine market is forcing companies along the wind blade value chain to assess supply chain dynamics and strategy • A new report from Navigant Research assesses the global wind blade market, focusing on…
Read More »
The Global Smart Waste Collection Technology Market is Expected to Exceed $223 Million in 2025
Commercially viable smart waste technologies and an increasing interest in connectivity and city IoT networks are expected to foster market growth • A new report from Navigant Research examines the global market for smart waste collection…
Read More »
Trends in Emerging Mobility Services are Converging to Influence and Reshape the Future Transportation Market
Opportunities for market players to lead in this new space are expected to last for only the next few years • A new report from Navigant Research examines the trends associated with emerging mobility services…
Read More »
View All News

{"userID":"","pageName":"Smart Appliance Market to Reach Nearly $35 Billion Annually by 2020","path":"\/newsroom\/smart-appliance-market-to-reach-nearly-35-billion-annually-by-2020","date":"12\/2\/2016"}