| Product Code: ETC4445845 | Publication Date: Jul 2023 | Product Type: Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India smart appliances market import shipment experienced a significant decline with a CAGR of -28.3% from 2020 to 2024. The growth rate between 2023 and 2024 plummeted by 78.9%, indicating a sharp contraction. The market exhibited a pronounced slowdown, showing a lack of momentum and a consistent downward trend over the period.
The smart appliances market in India has gained momentum due to the increasing trend of home automation and the adoption of Internet of Things (IoT) technology. Consumers are looking for appliances that offer convenience, energy efficiency, and remote control features. Smart refrigerators, washing machines, and air conditioners have been particularly popular in urban households, leading to market growth.
The India smart appliances market is being driven by the adoption of smart home technologies and the desire for energy efficiency and convenience. As consumers become more tech-savvy, they seek appliances that can be controlled remotely and integrated into their smart home ecosystems. The government`s initiatives promoting energy-efficient appliances and the need to conserve resources are also contributing to the market`s growth. Furthermore, the urbanization and the rise of nuclear families are increasing the demand for time-saving and automated home appliances.
The challenges in this market include making smart appliances more affordable and user-friendly, and addressing concerns about data security and privacy. Adapting to evolving technology standards and consumer preferences can be hurdles.
The COVID-19 pandemic led to increased adoption of smart appliances in India as people spent more time at home and sought ways to enhance convenience and safety. The demand for connected appliances like smart refrigerators, washing machines, and thermostats grew. Supply chain disruptions initially impacted availability, but the market quickly adapted to fulfill consumer needs. As smart home technology continues to gain traction, the India smart appliances market is expected to witness sustained growth in the post-pandemic era.
The smart appliances market in India is witnessing steady growth, with key players like Samsung, LG, and Bosch Home Appliances leading the way. These companies provide a range of innovative home appliances equipped with smart technology, making daily tasks more convenient and energy-efficient. Their products, such as smart refrigerators, washing machines, and ovens, are contributing to the transformation of India households into smart and connected living spaces.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Smart Appliances Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Smart Appliances Market Revenues & Volume, 2021 & 2031F |
3.3 India Smart Appliances Market - Industry Life Cycle |
3.4 India Smart Appliances Market - Porter's Five Forces |
3.5 India Smart Appliances Market Revenues & Volume Share, By Products , 2021 & 2031F |
3.6 India Smart Appliances Market Revenues & Volume Share, By Technology, 2021 & 2031F |
3.7 India Smart Appliances Market Revenues & Volume Share, By Sales Channel, 2021 & 2031F |
3.8 India Smart Appliances Market Revenues & Volume Share, By End-User Industry, 2021 & 2031F |
4 India Smart Appliances Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing urbanization and disposable income in India leading to higher adoption of smart appliances. |
4.2.2 Growing awareness about energy efficiency and sustainability driving the demand for smart appliances. |
4.2.3 Technological advancements in IoT (Internet of Things) and AI (Artificial Intelligence) enhancing the functionality and desirability of smart appliances in the market. |
4.3 Market Restraints |
4.3.1 High initial costs of smart appliances making them unaffordable for a significant portion of the Indian population. |
4.3.2 Lack of supporting infrastructure and connectivity issues in certain regions hindering the seamless integration and usage of smart appliances. |
4.3.3 Concerns regarding data privacy and security deterring some consumers from embracing smart appliances fully. |
5 India Smart Appliances Market Trends |
6 India Smart Appliances Market, By Types |
6.1 India Smart Appliances Market, By Products |
6.1.1 Overview and Analysis |
6.1.2 India Smart Appliances Market Revenues & Volume, By Products , 2021-2031F |
6.1.3 India Smart Appliances Market Revenues & Volume, By Smart Washers, 2021-2031F |
6.1.4 India Smart Appliances Market Revenues & Volume, By Smart Dryers, 2021-2031F |
6.1.5 India Smart Appliances Market Revenues & Volume, By Smart Air Conditioners, 2021-2031F |
6.1.6 India Smart Appliances Market Revenues & Volume, By Smart Water Heaters, 2021-2031F |
6.1.7 India Smart Appliances Market Revenues & Volume, By Smart Lighting Devices, 2021-2031F |
6.1.8 India Smart Appliances Market Revenues & Volume, By Smart Security Devices, 2021-2031F |
6.1.9 India Smart Appliances Market Revenues & Volume, By Smart Refrigerators, 2021-2031F |
6.1.10 India Smart Appliances Market Revenues & Volume, By Smart Refrigerators, 2021-2031F |
6.2 India Smart Appliances Market, By Technology |
6.2.1 Overview and Analysis |
6.2.2 India Smart Appliances Market Revenues & Volume, By Wi-Fi, 2021-2031F |
6.2.3 India Smart Appliances Market Revenues & Volume, By Bluetooth, 2021-2031F |
6.2.4 India Smart Appliances Market Revenues & Volume, By Near Field Communication (NFC), 2021-2031F |
6.2.5 India Smart Appliances Market Revenues & Volume, By Others (ZigBee, RFID, EnOcean, Z-Wave and cellular Networks), 2021-2031F |
6.3 India Smart Appliances Market, By Sales Channel |
6.3.1 Overview and Analysis |
6.3.2 India Smart Appliances Market Revenues & Volume, By Indirect Sales Channel, 2021-2031F |
6.3.3 India Smart Appliances Market Revenues & Volume, By Direct Sales Channel, 2021-2031F |
6.4 India Smart Appliances Market, By End-User Industry |
6.4.1 Overview and Analysis |
6.4.2 India Smart Appliances Market Revenues & Volume, By Residential, 2021-2031F |
6.4.3 India Smart Appliances Market Revenues & Volume, By Commercial, 2021-2031F |
7 India Smart Appliances Market Import-Export Trade Statistics |
7.1 India Smart Appliances Market Export to Major Countries |
7.2 India Smart Appliances Market Imports from Major Countries |
8 India Smart Appliances Market Key Performance Indicators |
8.1 Energy efficiency ratings of smart appliances purchased by consumers in India. |
8.2 Adoption rate of smart home automation systems alongside smart appliances. |
8.3 Percentage of households in India using IoT-enabled devices for daily tasks. |
8.4 Average usage time of smart appliances in Indian households. |
8.5 Rate of growth in the number of smart appliance manufacturers and suppliers in the Indian market. |
9 India Smart Appliances Market - Opportunity Assessment |
9.1 India Smart Appliances Market Opportunity Assessment, By Products , 2021 & 2031F |
9.2 India Smart Appliances Market Opportunity Assessment, By Technology, 2021 & 2031F |
9.3 India Smart Appliances Market Opportunity Assessment, By Sales Channel, 2021 & 2031F |
9.4 India Smart Appliances Market Opportunity Assessment, By End-User Industry, 2021 & 2031F |
10 India Smart Appliances Market - Competitive Landscape |
10.1 India Smart Appliances Market Revenue Share, By Companies, 2024 |
10.2 India Smart Appliances Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |