The Smart Washing Machines Market provides comprehensive data on the opportunities that can be grabbed by the players in the industry.
LONDON, June 8, 2022 /PRNewswire/ — Asia Pacific holds the largest smart washing machine market share on a global scale, which represents a huge 59% of the total in 2021. It was followed by Western Europe, then the other regions. Going forward, the fastest growing regions in the smart washing machine market will be Africa and the Middle East where growth will be at CAGRs of 14.8% and 10.8% respectively. These will be followed by South America and North America.
The Global smart washing machine market size should go from $14.87 billion in 2021 for $15.93 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The market growth is mainly driven by businesses resuming operations and adapting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing , remote working and closing business activities. which resulted in operational difficulties. The smart washing machine market should reach $20.83 billion in 2026 at a CAGR of 6.9%.
Companies in the smart washing machine market are investing in Wi-Fi technology to increase processing speed.
Companies in the smart washing machine market are investing in voice-activated washing machines for market growth.
internet of things
Companies in the washing machine market are investing in washing machine IoT technologies to provide customized solutions. IoT-enabled devices are integrated with sensors, internet connectivity, and other hardware that enables communication through the web.
Companies in the smart washing machine market are investing heavily in AI technology. AI can identify data types, find possible connections between data sets, and recognize knowledge using natural language processing. Users will be able to use their smartphones or voice assistants to control these AI-powered washing machines.
The global smart washing machine market is very fragmented, with a large number of actors. The ten main competitors in the market represented up to 38.6% of the total market in 2021. Haier Smart Home Co., Ltd. was the biggest competitor with 9.36% market share, followed by LG Electronics, Whirlpool Corporation, AB Electrolux, Panasonic Corporation, Samsung Electronics Co Ltd, Arcelik AS, Xiaomi Corporation, Robert Bosch GmbH and Miele et Cie KG.
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