US Smart Home Appliances Outlook 2024

Smart homes appliances are the intelligent and communicating equipment that are inter-connected via the internet. These devices can be controlled remotely by the user. The United States (U.S.) smart home appliance market is anticipated to grow with a CAGR of 15.4% during the forecast period, i.e., 2020-2024. Factors such as the increasing adoption of smart home appliances by the citizens of the U.S., along with the growing disposable income of the individuals, are anticipated to drive the market growth. Further, the increasing number of households in the region, along with the high count of households with accessibility to the internet, are also anticipated to contribute to the market growth. The United States (U.S.) smart home appliance market attained a market revenue of close to USD 2,900,000.0 thousand in 2019. Further, the market is projected to gain a revenue of over USD 5,300,000 thousand in 2024.

The United States (U.S.) smart home appliance market has been segmented by product category into smart appliances, smart range hood, and others. In the year 2019, the smart appliances segment registered the largest market share of 73%. On the basis of buyer type, the smart appliances segment can be further divided into builders and consumers, out of which, the consumers segment is anticipated to cross USD 3200 Million by 2024.

The United States (U.S.) smart home appliance market has also been segmented on the basis of region into South U.S., West U.S., Midwest U.S., and Northeast U.S. Among the market in these regions, the South U.S. smart home appliances market is projected to register the largest market share of close to 33% by 2024. Factors such as the presence of numerous states in this region which has numerous households with enhanced internet connectivity, along with the increasing adoption of advanced technologies, such as internet of things (IoT), and others, are anticipated to contribute to the growth of the market in this region.

Some of the leading industry players in the United States (U.S.) smart home appliance market for builders are Lennar Corporation, PulteGroup, Inc., Toll Brothers, Inc., Taylor Morrison, Inc., D.R. Horton, Inc., Meritage Homes Corporation, Coventry Homes, Loudermilk Homes, Tri Pointe Homes, Inc., and others. Furthermore, the leading industry players in the market for manufacturers are Honeywell International Inc. (Resideo Technologies, Inc.), Schneider Electric, Samsung Electronics Co., Ltd., Whirlpool Corporation, Robert Bosch GmbH, General Electric, AB Electrolux, Amazon.com, Inc., Panasonic Corporation, Haier Group, LG Electronics, and others.