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.

Research News

Rss
London and Bristol are the United Kingdom’s Leading Smart Cities
The most successful smart cities focus on five key themes • A new white paper from Navigant Research examines the strategy and execution of 10…
Read More »
Increased Regulation of Energy Efficiency Policies, Codes, and Benchmarking Is Necessary for Successful Policy Reform
The European Union’s stringent energy efficiency regulations are influencing policies in other regions • A new report from Navigant Research examines global energy efficiency policies by region, with…
Read More »
Revenue from Indoor Environmental and Air Quality Technologies Is Expected to Total $55.4 Billion from 2015 to 2024
A recent report from Navigant Research examines the market for indoor environmental and air quality…
Read More »
Goldwind Unseats Vestas as No. 1 Wind Turbine Supplier
2015 wind power capacity installations increased by nearly a quarter over 2014 • A new report from Navigant Research examines changes that occurred in the wind energy…
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":"5\/27\/2016"}