Smart Appliance Market to Top $15 Billion by 2015
Mar 22, 2010
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The global household smart appliance market is projected to grow from $3.06 billion in 2011 to $15.12 billion in 2015 according to Zpryme Research & Consulting.
The firm's new Smart Appliance Report 2010 says the global market size for smart washers and smart refrigerators will reach $3.54 billion and $2.69 billion, respectively, by 2015.
The research firm expects deployment of the Smart Grid to be a leading drivers of wealth in many global economies for as long as 10 - 15 years. The company believes there is much opportunity in this uncharted market. "As an industry and an emerging market space, smart appliances will become the next ̳sonic-boom‘ for the clean technology industry," the report states.
The United States is projected to dominate the household smart appliance market in 2011, accounting for 46.6% ($1.43 billion) of the global market. In 2015, the U.S. market share is projected to decrease to 36.0% ($5.46 billion) of the global household smart appliance market.
China is expected to follow the U.S. with a market share of 11.6% ($355 million) in 2011. In 2015, China is projected to account for 18.2% ($2.76 billion) of the global household smart appliance market.
The UK and Australia are projected to account for 4.8% ($146.0 million) and 2.8% ($87.0 million) of the global household smart appliance market in 2011. In 2015, the UK and Australia are projected to account for 6.4% ($969.0 million) and 3.1% ($470.0 million) of the global household smart appliance market.
The rest of world (ROW) is expected to account for 34.2% ($1.05 billion) of the global household smart appliance market in 2011. In 2015, ROW is projected to account for 36.3% ($5.51 billion) of the global household smart appliance market.
Smart appliances growth will be driven by pricing, the environment, energy efficiency, Smart Grid build-out, and government subsidies, the report says. It foresees GE and Whirlpool adding connectivity via companies like Trilliant and Tendril Networks. In the beginning, consumers will likely purchase larger appliances such as refrigerators, dishwashers, clothes washers and dryers, and stoves/ovens.
The report notes that China leads in total smart grid stimulus funding with $7.3 billion. The U.S. leads in smart grid stimulus per capita at $23.09. The U.S. is followed by Spain's $19.90, South Korea's $17.00, and Australia's $16.92.
The report can be found at www.zpryme.com.
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