Top 5 Companies in the Smart Home Appliances Industry | Technavio (2024)

As the Internet of Things (IoT) has evolved, everything including phones, watches, cars, and cities are turning smart and increasingly becoming a part of the connectivity wave. Smart devices that are designed and developed for use at home have been in a constant state of evolution. From connected lighting systems to voice-activated intelligent speakers and programmable thermostats that learn the customer’s preferences, IoT integrated with smart home appliances are redefining our way of life.

The world’s premier consumer electronics companies such as Haier, Whirlpool, Electrolux, LG, Samsung, and GE Appliances have been making their mark in the smart home appliances industry by producing smart IoT themed applications. These companies have profited owing to their early entry into the industry and their pioneer status.

Here are the top 5 manufacturers of smart home appliances that are dominating marketplaces around the world-

1)Haier

The world’s leadinghome appliances andconsumer electronics brand, Haier, has sustained its number one position in the global market and transformed itself into an internet-age brand. This China-based multinational company designs, manufactures, and sells products such as mobile phones, microwave ovens, washing machines, televisions, refrigerators, and computers. Haier strives to build smart homes that nurture smart communities and create a complete living experience for its customers.

This pioneering home appliance manufacturer is seeking to accelerate the turnaround from its recently acquired subsidiary, GE Appliances. The intended plan is to leverage a data platform and the connectivity of appliances based on IoT. As per recent research, Haier accounts for more than 10% of the global smart home appliances’ sales.

2)Electrolux

Electrolux AB, commonly known as Electrolux, is a Swedish home appliance manufacturer headquartered in Stockholm. The company is consistently ranked the second-largest appliance manufacturer in the world in terms of the units sold. Through its brands, the company sells more than 60 million professional and household products in over 150 markets annually. The brands include Electrolux, Anova, AEG, Frigidaire, Zanussi, and Westinghouse.

This is the only appliance maker in the world to offer comprehensive solutions for both consumers and professionals. The company recently entered into a joint venture with China’s leading smart technology company, Midea Group, to introduce its AEG brand to Chinese customers. The joint venture will explore the fast-growing retail industry in China, as well as sink its teeth into some lucrative real estate projects.

3)LG Electronics

South Korean consumer electronics major LG, has always led technological innovations in the home appliances ecosystem. With global sales of nearly USD 50 billion, LG Electronics operates four business units: home entertainment, home appliance and air solutions, mobile communications, and vehicle components. The company announced its brand new lineup of home appliances at CES 2018.

Also, assuredly, the company is doubling down on its smart home initiative by integrating AI in all its smart appliances. Further, voice commands will control all these devices. Products and services offered under its new “ThinQ” brand will employ deep learning and communicate with each other. This is supposed to be part of the brand’s vision to become a human-centered AI company.

4)Whirlpool

Headquartered in Michigan, United States, Whirlpool is one of the world’s top home appliances manufacturers. This company specializes in refrigerators and freezers, laundry appliances, cooking appliances, dishwashers, and compressors. Its products are sold under a bevy of brand names, including Whirlpool, KitchenAid, Jenn-Air, Amana, Maytag, and Roper. The company markets and distributes these popular home appliances in North America, Latin America, EMEA, and Asia.

Whirlpool recently announced a range of new products which will feature smart integration and collaboration. Primarily aimed at improving customer experiences, this includes everything from smartphone control to remote product ordering. All thanks to the integration ofpopular virtual assistants like Amazon Alexa and Google Assistant.

5)Samsung Electronics

Samsung Electronics, the famous South Korean company, is one of the largest producers of electronic devices in the world. The company manufactures a wide range of consumer electronics including digital media devices, semiconductors, home appliances, and integrated systems. Samsung has cemented its position in the U.S. home appliances industry as well. And, for the second straight year, Samsung has retained its top position in the country’s smart home appliances industry.

Last year, the company introduced an array of premium smart home appliances including Family Hub refrigerators with advanced voice capabilities and a Samsung Connect app that’s capable of seamlessly integrating products across the cloud. Samsung also established a new plant in South Carolina to locally manufacture the home appliance products that it proposes to sell in the United States.

Top 5 Companies in the Smart Home Appliances Industry | Technavio (2024)

FAQs

What are the trends in the home appliance industry? ›

Smart Appliances and Interoperability

Smart home appliances are here to stay. Around 38% of homes in the U.S. have at least one smart appliance and this trend will skyrocket in 2024. Smart appliances allow homeowners and families to live a connected lifestyle within their homes.

What is the trend in smart home appliances? ›

Trends in the market: One of the key trends in the smart appliances market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. AI-powered smart appliances can learn from user behavior and adapt their settings accordingly, providing a personalized and optimized experience.

What is an example of a smart appliance? ›

Smart apppliances include a wide range of devices and gadgets. Examples encompass clever fridges, ovens, coffee makers, and thermostats.

How big is the home appliance industry? ›

The U.S. household appliances market size was estimated at USD 55.34 billion in 2022 and is expected to reach USD 58.33 billion in 2023.

What is the largest appliance company? ›

Leading home and kitchen appliance companies worldwide in 2024, by market cap. The Midea group, housed in China, is the largest home and household appliance company worldwide when looking at market capitalization.

What is the number one home appliance? ›

1 Global Major Appliances Brand for the 15th year by Euromonitor International. 2024 is starting with excellent news: Haier has been Ranked No. 1 Major Appliances Brand for 15 consecutive Years according to Euromonitor.

What are the smart appliance brands? ›

Shop Smart Appliances by Brand
  • Samsung Smart Appliances.
  • GE Smart Appliances.
  • LG Smart Appliances.
  • Whirlpool® Smart Appliances.
  • Midea Smart Appliances.
  • Shark Smart Appliances.
  • iRobot Smart Appliances.
  • KitchenAid Smart Appliances.

What are the AI appliances used in smart homes? ›

Here are some popular AI-powered smart home devices:
  • Smart thermostats: Nest Learning Thermostat, Ecobee Smart Thermostat, Honeywell Lyric T6.
  • Smart lights: Philips Hue, LIFX, Sengled.
  • Smart locks: August Smart Lock Pro, Schlage Encode Plus, Kwikset Kevo Plus.
  • Smart security systems: SimpliSafe, Ring, Abode.
Nov 3, 2023

Is the smart home industry growing? ›

The Global Smart Home Market Size is to Grow from USD 102.3 Billion in 2023 to USD 263.6 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 10.0% during the projected period. The smart home market has experienced substantial growth and evolution globally.

What are 5 appliances? ›

Air conditioners, dishwashers, clothes dryers, drying cabinets, freezers, refrigerators, kitchen stoves, water heaters, washing machines, trash compactors, microwave ovens, and induction cookers are just a few examples of major appliances.

What are smart home appliances? ›

A smart home's devices are connected with each other and can be accessed through one central point—a smartphone, tablet, laptop, or game console. Door locks, televisions, thermostats, home monitors, cameras, lights, and even appliances such as the refrigerator can be controlled through one home automation system.

What smart appliances exist? ›

11 Smart Home Devices You Didn't Know Existed
  • Smart Toilet.
  • Smart Pet Food Dispenser.
  • Smart Bed.
  • Smart Egg Tray.
  • Smart Toothbrush.
  • Smart Fork.
  • Smart Frying Pan.
  • Smart Toaster.

Who sells the most appliances in the USA? ›

Major Appliance Market Share by Retailer

At the end of Q4 2022, Lowe's continued to lead the core major appliances market with the highest market share percentage (28%), based on units sold. The second highest share was held by The Home Depot, who claimed 23% of the core major appliances market.

How big is the smart appliance market? ›

According to Straits Research, “The smart home appliances market size was valued at USD 30.79 billion in 2021. It is estimated to reach USD 63.63 billion by 2030, growing at a CAGR of 8.4% during the forecast period (2022-2030).” The adoption of new technologies in homes is assisting the industry's progress.

What is the future of the appliance industry? ›

According to the latest research, the global Home Appliances market size was valued at USD 217693.92 million in 2022 and is expected to expand at a CAGR of 4.43% during the forecast period, reaching USD 282298.16 million by 2028.

What is the outlook for the household appliance industry? ›

Household Appliances - United States

Revenue in the Household Appliances market in the United States is projected to reach US$61.68bn in 2024. The market is anticipated to grow at an annual rate of 3.07% (CAGR 2024-2028). The largest segment in the market is Major Appliances, with a market volume of US$31.49bn in 2024.

What is the target market for home appliances? ›

Target Audience and Consumer Behavior

Identifying the target audience and understanding their behavior is crucial for businesses. The target audience for home appliances includes households, offices, and commercial establishments.

What is the small appliance market trend? ›

The small appliances market, which includes products such as vacuum cleaners, microwave ovens, and small kitchen appliances, amongst others, witnessed revenue growth of 10.5% in 2020 and 9.9% in 2021 respectively, when most other markets witnessed a decline, owing to the rising sales of products such as vacuum cleaners ...

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