The global smart dishwasher market size was valued at USD 2.4 billion in 2020 and is anticipated to grow at USD 4.5 billion by 2027 and a compound annual growth rate (CAGR) of 9.4% from 2020 to 2027. Increasing penetration of smart household, consumers inclinations towards smart kitchen appliances, and rising disposable income are driving the market. In addition, increasing spending on home improvement projects and home remodelling is also driving the demand for smart dishwasher.
A smart dishwasher is one of the smart home appliances which adds enhanced features to standard dishwasher such as Wi-Fi connectivity as well as flexibility options including smartphone controls and voice controls via virtual home assistant. Smart dishwashers are highly efficient and flexible and known to address common concerns including food particles redepositing on plates or dishes. Also, the enhanced technology features in smart dishwasher enable users to incorporate their dishwasher into a smart home design. The growing demand for kitchen appliances with features such as the convenience of remote operation as well as the unique experience offered by them is likely to drive demand for smart dishwasher over the forecast period.
In terms of value, the household application segment dominated the market with a revenue share of 81.9% in 2020. The segment is expected to witness a CAGR) of9.7% from 2020 to 2027. The high penetration of this segment is attributed to increasing number of homeowners adopting smart home technology. In recent years, the households in developed nations are showing more inclination towards smart home and kitchen appliances which can be controlled through smartphones or the internet. In addition, growing internet penetration and rising disposable income together are foreseen to propel the demand for smart dishwasher over the forecast period. Increase in housing ownership rates across various regions coupled with rising awareness regarding smart appliances is expected to create positive outlook for the growth of the smart dishwasher market in coming years.
In terms of value, the free standing dishwasher segment held market share of 57.2% in 2020. This product segment is projected to grow with notable CAGR over the forecast period. The high share of this segment is attributed to its rising adoption rate in households and commercial places. Free standing dishwashers are convenient and versatile and can be frequently relocated to any place in the kitchen as per the users requirement. This type of dishwasher is highly preferred by tenants as they are not a permanent installation. In addition, free standing type costs less than a built-in model and doesnt require any special installation. This type of dishwasher is great for homes with small kitchens and foreseen to gain significant traction in coming years.
The smart dishwasher market is segmented on the basis of product, application and region. By product the market is divided into Free Standing Dishwasher, Built-in Dishwasher. By application the market is divided into Household, Commercial.
Europe dominated the market by accounting for 42.7% market share in 2020. It is projected to witness a CAGR of 8.6% from 2020 to 2027. Growing penetration of smart household, as well as several kitchen and home remodeling projects in the regions, is expected to drive demand for smart dishwashers over the forecast period. In Europe, Germany is foreseen to remain dominant and expected to witness a notable CAGR over the forecast period. Growing working population, inclining consumers preference for smart home and kitchen appliances, coupled with increasing disposable income are some of the key factors fueling market growth.
North America is estimated to be the significant shareholder of the market in 2020 and is projected to be the same over the forecast period. Increasing number of smart households in the region is likely to generate significant demand for smart dishwasher over the forecast period. As per the IoT Business News, in 2020, North America had an installed base of 33.8 million smart homes, which represent a penetration of 24.0%. Rising internet penetration and growing consumers inclination towards convenient and connected home experience are factors anticipated to drive the market in coming years.
Robert Bosch GmbH; SAMSUNG ELECTRONICS CO., LTD.; Haier Group Corporation; Electrolux AB; Whirlpool Corporation; Miele & Cie. KG; Panasonic Corporation; Arcelik A..; SMEG S.p.A.
A smart dishwasher is one of the smart home appliances which adds enhanced features to standard dishwasher such as Wi-Fi connectivity as well as flexibility options including smartphone controls and voice controls via virtual home assistant. Smart dishwashers are highly efficient and flexible and known to address common concerns including food particles redepositing on plates or dishes. Also, the enhanced technology features in smart dishwasher enable users to incorporate their dishwasher into a smart home design. The growing demand for kitchen appliances with features such as the convenience of remote operation as well as the unique experience offered by them is likely to drive demand for smart dishwasher over the forecast period.
In terms of value, the household application segment dominated the market with a revenue share of 81.9% in 2020. The segment is expected to witness a CAGR) of9.7% from 2020 to 2027. The high penetration of this segment is attributed to increasing number of homeowners adopting smart home technology. In recent years, the households in developed nations are showing more inclination towards smart home and kitchen appliances which can be controlled through smartphones or the internet. In addition, growing internet penetration and rising disposable income together are foreseen to propel the demand for smart dishwasher over the forecast period. Increase in housing ownership rates across various regions coupled with rising awareness regarding smart appliances is expected to create positive outlook for the growth of the smart dishwasher market in coming years.
In terms of value, the free standing dishwasher segment held market share of 57.2% in 2020. This product segment is projected to grow with notable CAGR over the forecast period. The high share of this segment is attributed to its rising adoption rate in households and commercial places. Free standing dishwashers are convenient and versatile and can be frequently relocated to any place in the kitchen as per the users requirement. This type of dishwasher is highly preferred by tenants as they are not a permanent installation. In addition, free standing type costs less than a built-in model and doesnt require any special installation. This type of dishwasher is great for homes with small kitchens and foreseen to gain significant traction in coming years.
The smart dishwasher market is segmented on the basis of product, application and region. By product the market is divided into Free Standing Dishwasher, Built-in Dishwasher. By application the market is divided into Household, Commercial.
Europe dominated the market by accounting for 42.7% market share in 2020. It is projected to witness a CAGR of 8.6% from 2020 to 2027. Growing penetration of smart household, as well as several kitchen and home remodeling projects in the regions, is expected to drive demand for smart dishwashers over the forecast period. In Europe, Germany is foreseen to remain dominant and expected to witness a notable CAGR over the forecast period. Growing working population, inclining consumers preference for smart home and kitchen appliances, coupled with increasing disposable income are some of the key factors fueling market growth.
North America is estimated to be the significant shareholder of the market in 2020 and is projected to be the same over the forecast period. Increasing number of smart households in the region is likely to generate significant demand for smart dishwasher over the forecast period. As per the IoT Business News, in 2020, North America had an installed base of 33.8 million smart homes, which represent a penetration of 24.0%. Rising internet penetration and growing consumers inclination towards convenient and connected home experience are factors anticipated to drive the market in coming years.
Robert Bosch GmbH; SAMSUNG ELECTRONICS CO., LTD.; Haier Group Corporation; Electrolux AB; Whirlpool Corporation; Miele & Cie. KG; Panasonic Corporation; Arcelik A..; SMEG S.p.A.
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