Smart Washing Machines Market Size, Restraints, Drivers, Trends, and Analysis 2024-2033

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The Smart Washing Machines by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Smart Washing Machines, 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 in the historic period can be attributed to rise in disposable income, a rise in merger and acquisition activity, rapid urbanization and strong 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 growth in the forecast period can be attributed to increasing smart homes, adoption of the internet of things (iot), increasing demand for energy efficient products, rapid growth in ecommerce, increasing adoption of 5g networks, increasing adoption of smart appliances and increased internet penetration. Major trends in the forecast period include focus on artificial intelligence (ai)-powered washing machines, focus on wi-fi enabled washing machines, focus on voice-enabled washing machines, focus on product innovations and focus on iot technology.

The increasing need for energy-efficient washing machines will drive the growth of the smart washing machines market in the forecast period. Smart washing machines increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient washing machines can be attributed to the stringent government regulations on electric home machines and advances in technology. According to the U.S. Energy Information Administration (EIA), the demand for global energy will grow by 37% due to a rise in energy requirements per household by 2035. Energy-efficient machines are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient machines. Thus, smart washing machines will drive the smart washing machines market in the forecast period.

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The smart washing machines market covered in this report is segmented –

1) By Type: Top Load, Front Load

2) By Connectivity: Wi-Fi, Bluetooth, Near-Field-Communication (NFC), Other Connectivities

3) By Application: Residential, Commercial

Artificial Intelligence is expected to be a trend in the smart washing machine market. AI uses a simulation of human intelligence into the machine. These machines are programmed with AI technology to think and function like humans. For instance, LG electronics newly released smart washing machine LG think which uses Artificial Intelligence and analyses the wash load and suggests the wash settings accordingly. AI-programmed smart washing machines are expected to ease the process of laundry.

The smart washing machines market report table of contents includes: