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Revenue in the Smart Appliances market is projected to reach US$301.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.39%, resulting in a projected market volume of US$472.6m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 568.9k users by 2029.
Household penetration will be 9.7% in 2024 and is expected to hit 18.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$1.04k.

Definition:

Smart Appliances market includes connected versions of all kinds of household appliances. This includes large appliances (fridges, washing machines, ovens etc.) as well as small appliances (microwaves, coffee machines, vacuum and mowing robots etc.), provided they are connected to the internet. An indirect connection via a local network is also possible, as long as the remote access and control of the respective appliances via the connection is given.

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include Irobot, LG, Samsung, Xiaomi, and other brands renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.

Directly or indirectly internet-controllable household appliances
Large appliances such as fridges, washing machines, dishwashers, ovens (e.g., Samsung Side-by-Side, E, 614 ℓ, LG GSXV90MCDE Side-by-Side )
Small appliances such as coffee machines (e.g., Bosch CTL636EB6), vacuum and mowing robots (e.g., Roborock S8 Pro Ultra Robot Vacuum Cleaner), microwaves (e.g., SARO SAMSUNG MJ2691)

Any other smart home device (partially also referred to as “appliances”)
Any non-connected household appliances
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Smart Appliances market in Denmark is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Denmark are shifting towards more sustainable and energy-efficient solutions, which has led to an increased demand for smart appliances.

Consumers are becoming more conscious of their environmental impact and are actively seeking products that can help them reduce energy consumption and lower their carbon footprint. Smart appliances, such as energy-efficient refrigerators, washing machines, and thermostats, offer advanced features and functionalities that enable users to optimize their energy usage and reduce waste. This customer preference for sustainability is driving the adoption of smart appliances in Denmark.

Trends in the smart appliances market in Denmark are also contributing to its growth. The integration of smart home technology and the Internet of Things (IoT) has revolutionized the way appliances are used and controlled. Smart appliances can now be connected to a central hub or controlled remotely through smartphone apps, allowing users to monitor and control their appliances from anywhere.

This convenience and flexibility have made smart appliances increasingly popular among Danish consumers. Additionally, the development of voice-controlled assistants, such as Amazon Alexa and Google Assistant, has further enhanced the user experience and made smart appliances more accessible and user-friendly. Local special circumstances in Denmark, such as government initiatives and regulations, are also driving the growth of the smart appliances market.

The Danish government has been actively promoting energy efficiency and sustainability through various policies and incentives. For example, the government offers subsidies and tax incentives for the purchase of energy-efficient appliances, including smart appliances. These incentives have encouraged consumers to invest in smart appliances and have created a favorable market environment for manufacturers and retailers.

Underlying macroeconomic factors, such as the overall economic stability and disposable income levels in Denmark, also play a significant role in the development of the smart appliances market. Denmark has a high standard of living and a strong economy, which enables consumers to afford and invest in premium products, including smart appliances. The stable economic conditions in the country provide a conducive environment for manufacturers and retailers to introduce and promote smart appliances to the market.

In conclusion, the Smart Appliances market in Denmark is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards sustainability, the integration of smart home technology, government initiatives, and the stable economic conditions in Denmark are all contributing to the increasing adoption of smart appliances in the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.

“Alexa, can you tell me something about smart speakers?” is just one of the many questions smart speakers can answer today, with people using and relying on these devices for a wide range of purposes. Smart speakers are devices powered by a voice-enabled virtual intelligent assistant and can work as central controlling hubs for smart homes. Indeed, capable of performing a vast array of functions, such devices are used not only for entertainment, but also for searching the web, answering questions, and many other activities, such as creating a shopping list and providing you with weather forecast. In line with the rising popularity of smart home technology, the prevalence of smart speakers in households has steadily grown and are today among consumers’ favorite electronic devices.