The Europe smart home appliances market valued at US$ 4.08 Bn in 2018 and is expected to grow at a CAGR of 13.9% during the forecast period 2019 - 2027, to generate US$ 12.94 Bn by 2027.
Smart home appliances present a great opportunity to reduce energy usage in residential buildings/households. Smart homes equipped with smart appliances are an integral part of smart grid development in any country. The demand for Europe smart home appliances market is expected to be driven by rising need for energy saving, increasing security concerns, and initiatives taken by government. Security concern is another factor fueling the growth of Europe smart home appliances market. However, standardization and Interoperability issues may hinder the Europe smart home appliances growth to certain extent.
Europe Security Measure Market, by Revenue, 2018
Market Insights
Favorable strategies driving the growth of smart home appliances in Europe
The European commission strategies such as Digital agenda, Digital Single Market for the growth of digital economy aim at giving better access of digital goods and services to consumers across Europe. These policies are driving the growth of digital economy in Europe which includes smart homes and smart home appliances. Efforts are being taken by Europe for ICT standardization which is an essential aspect to facilitate interoperability within the Digital Single Market. This will further push the development and deployment of advanced technologies like 5G, IoT, AI, cloud services, data driven services, smart transport, smart energy and smart home systems in Europe.
Product Insights
The Europe smart home appliances market by type was led by energy & lighting. Smart home appliances offer a great alternative to increase energy efficiency by monitoring energy usage of various smart appliances like smart light bulbs & lighting systems, smart thermostats, smart boiler and others. The smart appliances communicate with each other and also with energy control systems like smart meters to anticipate the energy peaks and lows. This interaction between smart devices and energy systems helps in observing and analyzing the energy usage pattern and with use of technologies like artificial intelligence the energy consumption can be optimized.
End-user Insights
The Europe smart home appliances market is segmented based on commercial and residential. Commercial buildings can also implement smart home technology for several benefits including, reduction of waste. Also, other commercial buildings may use data gathered and with information, they can improve control make decisions that impact the productivity as well as efficiency of their people, systems, as well as, work environments. Hospitality is one the major end-user of smart home appliances in the commercial segment of Europe smart home appliances market.
Europe Smart Home Appliances Market by Application 2018 & 2027
Strategic Insights
System integrators as well as electricians plays an essential part in automating homes in the European region. However, advancements in technologies in the home automation market are resulting in making homes smarter. New service providers including insurance and energy companies are also taking part in the market space.
2019: the U.K. developer Urban Splash announced that it is building a new set of smart homes that are set to arrive in Manchester later this year. The project, Mansion House is launched in partnership with the architecture firm Shedkm.
2018: Electrolux expanded its partnership with Google by integrating connected kitchen products in Europe with the Google Assistant.
2018: Vodafone España added a smart home offering to its all-in-one quad-play service spanning fibre, mobile and TV.
Europe Smart Home Appliances Market – By Product
• Appliances
• Energy & Lighting
• Security Measures
• Health & Fitness
Europe Smart Home Appliances Market – By Technology
Europe Smart Home Appliances Market – By End-user
Europe Smart Home Appliances Market – By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 4.08 Billion |
| Market Size by 2027 | US$ 12.94 Billion |
| CAGR (2019 - 2027) | 13.9% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Smart Home Appliances Market is valued at US$ 4.08 Billion in 2018, it is projected to reach US$ 12.94 Billion by 2027.
As per our report Europe Smart Home Appliances Market, the market size is valued at US$ 4.08 Billion in 2018, projecting it to reach US$ 12.94 Billion by 2027. This translates to a CAGR of approximately 13.9% during the forecast period.
The Europe Smart Home Appliances Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Smart Home Appliances Market report:
The Europe Smart Home Appliances Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Smart Home Appliances Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Smart Home Appliances Market value chain can benefit from the information contained in a comprehensive market report.
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