Europe Smart Home Appliances Market Size & Outlook
- Consumer Goods
- Consumer Electronics & Appliances
- Smart Home Appliances Market Outlook
- Consumer Electronics & Appliances
Europe Smart Home Appliances Market, 2017-2030 (US$M)
Global Market
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Europe smart home appliances market highlights
- The Europe smart home appliances market generated a revenue of USD 6,620.2 million in 2022.
- The market is expected to grow at a CAGR of 8.6% from 2023 to 2030.
- In terms of segment, smart washing machines was the largest revenue generating product in 2022.
- Smart Air Purifiers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 6,620.2 million |
| Market revenue in 2030 | USD 12,790.7 million |
| Growth rate | 8.6% (CAGR from 2022 to 2030) |
| Largest segment | Smart washing machines |
| Fastest growing segment | Smart Air Purifiers |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart Washing Machines, Smart Air Purifiers, Smart TV |
| Key market players worldwide | Whirlpool Corp, LG Electronics Inc ADR, Haier Smart Home Co Ltd ADR, Samsung Electronics Co Ltd, Panasonic Holdings Corp, Robert Bosch Engineering & Business Solutions, Electrolux AB ADR, Koninklijke Philips NV, GE Aerospace, Xiaomi Corp Class B |
Other key industry trends
- In terms of revenue, Europe region accounted for 22.8% of the global smart home appliances market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 28,466.9 million by 2030.
The rollout of 5G infrastructure plans and the increasing number of live 5G networks since 2019 in the region have boosted the internet penetration in the region. Additionally, the countries such as the U.K., Germany, France, Spain, and Italy are the major contributors to the growth of the smart home appliances market, as the majority of the smartphone users in the region are based in these countries.
Moreover, the increase in the demand for energy-efficient products among the European Union (EU) countries is further boosting the regional demand for smart home appliances. The EU is one of the unique economic and political unions between countries that together cover a majority of the continent. The EU is the second-largest economy in the world.
IoT combines physical and virtual worlds and creates a smart environment, thereby boosting the demand for smart home appliances. Moreover, the European Commission has been cooperating actively with the IoT industry and various organizations to uncover the potential of advanced technologies such as AI.
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Smart Home Appliances Market Scope
Smart Home Appliances Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Koninklijke Philips NV | View profile | 73,712 | Philips Center, Amstelplein 2, Amsterdam, Netherlands, 1096 BC | www.philips.com |
| Panasonic Holdings Corp | View profile | 230,025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | holdings.panasonic |
| GE Aerospace | View profile | 125,000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | www.geaerospace.com |
| Xiaomi Corp Class B | View profile | 33,627 | Anningzhuang Road, Xiaomi Campus, Haidian District, Beijing, China, People's Republic of | www.mi.com |
| Samsung Electronics Co Ltd | View profile | 124,804 | 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 | www.samsung.com |
| LG Electronics Inc ADR | View profile | 35,111 | Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 | www.lge.co.kr |
| Electrolux AB ADR | View profile | 41,869 | Street Goransgatan 143, Stadshagen, Stockholm, Sweden, SE-105 45 | www.electroluxgroup.com |
| Haier Smart Home Co Ltd ADR | View profile | 112,458 | Haier Industrial Park, Laoshan District, Shandong Province, Qingdao, China, People's Republic of, 266101 | smart-home.haier.com/cn |
| Whirlpool Corp | View profile | 59,000 | 2000 North M-63, Benton Harbor, MI, United States, 49022-2692 | www.whirlpoolcorp.com |
| Robert Bosch Engineering & Business Solutions | View profile | 10001+ | Bangalore, Karnataka, India, Asia | www.bosch-india-software.com |
Europe Smart Home Appliances Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Smart Home Appliances Market Outlook will help companies and investors design strategic landscapes.
Smart Washing Machines was the largest segment with a revenue share of 35.68% in 2022.
Horizon Databook has segmented the Europe smart home appliances market based on smart washing machines, smart air purifiers, smart tv covering the revenue growth of each sub-segment from 2017 to 2030.
The rollout of 5G infrastructure plans and the increasing number of live 5G networks since 2019 in the region have boosted the internet penetration in the region. Additionally, the countries such as the U.K., Germany, France, Spain, and Italy are the major contributors to the growth of the smart home appliances market, as the majority of the smartphone users in the region are based in these countries.
Moreover, the increase in the demand for energy-efficient products among the European Union (EU) countries is further boosting the regional demand for smart home appliances. The EU is one of the unique economic and political unions between countries that together cover a majority of the continent. The EU is the second-largest economy in the world.
IoT combines physical and virtual worlds and creates a smart environment, thereby boosting the demand for smart home appliances. Moreover, the European Commission has been cooperating actively with the IoT industry and various organizations to uncover the potential of advanced technologies such as AI.
- Europe Smart Home Appliances Market Product Outlook (Revenue, USD Million , 2017-2030)
- Smart Washing Machines
- Smart Air Purifiers
- Smart TV
- Others
- Europe Smart Home Appliances Market Distribution Channel Outlook (Revenue, USD Million , 2017-2030)
- Online
- Offline
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe Smart Home Appliances Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Europe Smart Home Appliances Market Outlook from 2017 to 2030, including revenue numbers, major trends, and company profiles.
Europe Smart Home Appliances Market, 2017-2030 (US$M)
Europe smart home appliances market statistics, by product, 2017-2030 (US$M)
