Smart Washing Machines Global Market Report 2024

The smart washing machines market size has grown rapidly in recent years. It will grow from $20.21 billion in 2023 to $23.6 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth observed in the historical period can be linked to an increase in disposable income, a surge in merger and acquisition activities, rapid urbanization, and robust economic growth in emerging markets.

The smart washing machines market size is expected to see rapid growth in the next few years. It will grow to $39.32 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The anticipated growth in the forecast period can be ascribed to the rising prevalence of smart homes, the widespread adoption of the Internet of Things (IoT), a growing demand for energy-efficient products, the rapid expansion of e-commerce, increased adoption of 5G networks, a surge in the use of smart appliances, and heightened internet penetration. Noteworthy trends expected in the forecast period encompass a concentration on artificial intelligence (AI)-powered washing machines, an emphasis on Wi-Fi-enabled washing machines, a focus on voice-enabled washing machines, a commitment to product innovations, and a concentration on IoT technology.

The surge in demand for energy-efficient washing machines is poised to propel the smart washing machines market's growth in the forecast period. Manufacturers of smart washing machines are increasingly focusing on producing energy-efficient products, aligning with efforts to reduce carbon footprint and provide consumers with opportunities for energy savings. The development of energy-efficient washing machines is spurred by stringent government regulations governing electric home appliances and advancements in technology. The U.S. Energy Information Administration (EIA) forecasts a 37% increase in global energy demand by 2035, primarily driven by rising energy requirements per household. Energy-efficient machines, designed to minimize energy consumption for completing tasks, are now subject to standards and labels in over 80 countries. Hence, the smart washing machines market is expected to benefit from the increasing prevalence of energy-efficient appliances.

The escalating trend of urbanization is a significant driver for the smart washing machines market. Urbanization, characterized by population concentration in cities, accompanied by industrial and economic development, entails a shift from rural to urban living and the expansion of urban areas. Smart washing machines are gaining traction in urban settings due to their convenience, energy efficiency, and remote control capabilities, offering streamlined laundry processes amid the hustle and bustle of city life. As of April 2023, over 50% of the global population resides in urban areas, and projections from the World Bank suggest that the urban population will grow 1.5 times, reaching 6 billion people by 2045. Thus, the smart washing machines market is being driven by the ongoing trend of increasing urbanization.

The integration of Artificial Intelligence (AI) is anticipated to emerge as a trend in the smart washing machine market. AI involves the simulation of human intelligence within machines, enabling them to operate and make decisions akin to human thinking. For instance, LG Electronics has recently introduced the LG ThinQ smart washing machine, which leverages AI technology to analyze the wash load and provide recommended wash settings accordingly. The incorporation of AI in smart washing machines is poised to streamline and simplify the laundry process.

Leading companies in the smart washing machine market are strategically focused on developing washing machines equipped with connected living platforms to gain a competitive advantage. Smart washing machines integrated with connected living platforms offer features for remote control and monitoring of laundry tasks, enhancing overall convenience and efficiency in daily life. A notable example is Panasonic Holdings Corporation, a Japan-based electronics company, which, in September 2022, introduced a new series of smart washing machines powered by its connected living platform, Miraie. These machines, seamlessly integrated into the Miraie ecosystem, boast advanced smart features and a premium design. Innovations such as Smart Built-in Heater, Stain Genius, and a diverse range of capacities from 6 kg to 13.5 kg distinguish them in both top-loading and front-loading models.


Major companies operating in the smart washing machines market report are Haier Smart Home Co., Ltd., LG Electronics, Whirlpool Corporation, AB Electrolux, Panasonic Corporation, Samsung Electronics Co Ltd., Arcelik A.S., Xiaomi Corporation, Robert Bosch GmbH, Miele and Cie KG, IFB, Onida, Godrej, BPL, Little Swan, TCL Corporation, Sanyo Electric, Siemens AG, Landuwasco B.V., Hotpoint Ariston, Bsh Hausgeräte Gmbh, Kohlhoff Hygienetechnik Gmbh & Co. Kg, Tps Industriewaschmaschinen- Und Anlagenbau Gmbh, Pulse Monitor, Rusolut Sp. Z O.O, SECTRON, General Electric (GE), Speed Queen, Amana Corporation, Kenmore, Maytag, Miele, Frigidaire, Asko Appliances, Ariston, Brandt Appliance, Crosley Company, Dyson, Fisher and Paykel, Hoover Limited, Magic Chef, H-Buster, Philco, Pioneer, Sony, AOC, Philips, Hisense, Advanced Electronics Company, Leap Technologies FZC, SMARTECH AV, CZ Electronics (Pty) Ltd., Avnet South Africa, TOSHIBA, 3M South Africa, Electrocomp (PTY) Ltd.

Asia-Pacific was the largest region in the smart washing machines market in 2023. Western Europe was the second-largest region in the global smart washing machines market analysis. The regions covered in the smart washing machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the smart washing machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain. The smart washing machines market consists of sales of top load smart washing machines and front load smart washing machines. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Smart washing machines are primarily available in two types top load and front load, catering to both residential and commercial usage. Top load smart washing machines facilitate the loading of clothes from the top. These machines incorporate various connectivity options, including Wi-Fi, Bluetooth, near-field communication, and other connections.

The smart washing machine market research report is one of a series of new reports that provides smart washing machine market statistics, including smart washing machine industry global market size, regional shares, competitors with a smart washing machine market share, detailed smart washing machine market segments, market trends and opportunities, and any further data you may need to thrive in the smart washing machine industry. This smart washing machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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