Smart Washing Machines Global Market Report 2023: Increasing Need for Energy-Efficient Washing Machines Boosts Sector - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Smart Washing Machines Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global smart washing machines market will grow from $15.93 billion in 2022 to $17.06 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The smart washing machines market is expected to grow to $22.26 billion in 2027 at a CAGR of 6.9%.

Asia Pacific was the largest region in the smart washing machines market in 2022. Western Europe was the second-largest region in the smart washing machines market. The regions covered in the smart washing machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main type of smart washing machine is a top load, and front load that is applied in both residential, and commercial use. The top load smart washing machine allows loading the washing machine with clothes from the top. Smart washing machines use different kinds of connectivity such as Wi-Fi, Bluetooth, near-field communication, and other connections.

The increasing need for energy-efficient washing machines will drive the growth of the smart washing machines market in the forecast period. Smart washing machines increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient washing machines can be attributed to the stringent government regulations on electric home machines and advances in technology.

According to the U.S. Energy Information Administration (EIA), the demand for global energy will grow by 37% due to a rise in energy requirements per household by 2035. Energy-efficient machines are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient machines. Thus, smart washing machines will drive the market in the forecast period.

Smart washing machine utilizes wireless technology (such as WiFi, 3G, Bluetooth, etc.) to communicate and interact with other devices or networks. Therefore, the cost of the smart washing machine is high compared to the conventional washing machine. The smart washing machine's cost ranges from $650 to $2500 compared to conventional ones which range from $100 to $1000.

The cost will also depend on the size of the washing machine, with larger units fetching higher prices, such as a Samsung 16kg front load washing machine, which retails for around $3,000. Although the higher expense of a smart washing machine with a comparable build quality to a regular washing machine is not unreasonable, the high cost of these washing machines would hinder the demand and growth of the smart washing machine market.

Artificial Intelligence is expected to be a trend in the smart washing machine market. AI uses a simulation of human intelligence into the machine. These machines are programmed with AI technology to think and function like humans. For instance, LG electronics newly released smart washing machine LG think which uses Artificial Intelligence and analyses the wash load and suggests the wash settings accordingly.

Similarly, Samsung released the Samsung Grande AI washer and drier in January 2020 which uses Artificial Intelligence for effective ways to laundry and connect with the drier to ease the process of laundry. AI-programmed smart washing machines are expected to ease the process of laundry.

The countries covered in the smart washing machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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Scope

Markets Covered:

1) By Type: Top Load; Front Load

2) By Application: Residential; Commercial

3) By Connectivity: Wi-Fi; Bluetooth; Near-Field-Communication (NFC); Other Connectivities

A selection of companies mentioned in this report includes

• General Electric Co.
• LG Electronics Inc.
• Samsung Electronics Co. Ltd.
• Whirlpool Corp.
• Robert Bosch GmbH
• Haier Consumer Electronics Group Co. Ltd.
• Panasonic Corp.
• Siemens AG
• AB Electrolux
• Whirlpool
• Techtronic Industries (United States)
• Panasonic Corporation
• Toshiba Corp
• IFB Industries Ltd.
• Koninklijke Philips N.V. (Netherlands)
• BSH Hausgerate GmbH (Germany)
• Peraso Technologies (Canada)
• TCL Corp. (China)
• Bosch (Germany)
• AEG
• Tecnik
• IFB
• Baumatic
• Kenmore Maytag
• Zanussi
• Sharp Corporation
• Candy

For more information about this report visit https://www.researchandmarkets.com/r/6jhued-washing?w=4

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