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Smart Dishwasher Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global smart dishwasher products market was valued at USD 2.6 billion in 2021 and is expected to expand at a CAGR of 11.2% from 2022 to 2030. Growing demand for kitchen appliances, such as dishwashers, has been attributed to the rise in residential and non-residential construction activities, increased consumer disposable income, and rising urbanization across the globe. Moreover, the advent of smart home appliances, such as smart dishwashers, has created significant opportunities for manufacturers.
Smart dishwashers are gaining traction due to the convenience of controlling it with a smartphone or a voice-enabled device. For instance, in April 2021, Bosch released the Bosch Smart Home app, which allows users to control their dishwasher remotely. Furthermore, the introduction of a new line of dishwashers that are compatible with Alexa and Google Home is also driving the market growth.
Rising awareness about energy efficiency and water conservation is encouraging manufacturers to introduce energy- and water-efficient dishwashers. For instance, Whirlpool Corporation has introduced a dishwasher that uses 50% less water and energy than conventional dishwashers. These dishwashers are available in various sizes and come with a range of features such as a sanitize option, soil sensors, and an adjustable third rack for silverware.
Apart from that, the rising trend of customization is also playing a crucial role in driving the demand for the market. For instance, in 2021, Samsung launched its new line of customizable dishwashers that allow users to customize the look and feel of their dishwasher with different door, handle, and touch panel colors. Furthermore, some dishwashers come with Wi-Fi connectivity, allowing users to monitor and control their dishwasher with their smartphone.
The increasing demand for multifunctional appliances is also driving the market growth. For instance, in 2020, LG Electronics introduced the QuadWash dishwasher, which features four spray arms and four spray zones, providing a powerful clean. Additionally, some manufacturers are also offering features such as AutoRelease, which automatically opens the door at the end of the cycle to let steam escape and dry dishes faster.
Overall, the rising demand for energy- and water-efficient dishwashers, the increasing adoption of smart home technology, and the growing trend of customization are expected to drive the global smart dishwasher products market during the forecast period.
Product Insights
The fully-automated dishwasher segment held the largest market share of around 40.9% in 2022. This segment is expected to dominate the market during the forecast period. This is mainly attributed to the increasing demand for convenience goods, increasing disposable incomes of consumers, and the rising trend of smart connected home appliances. Furthermore, the emergence of innovative technologies such as voice command, artificial intelligence, and others are driving the growth of the segment.
The semi-automated dishwasher segment is expected to register the highest CAGR of around 10.1% during the forecast period. Increasing awareness about hygiene and health, rising disposable incomes of consumers, and the availability of advanced semi-automated dishwasher models are some of the factors driving the segment growth. Furthermore, increasing focus of manufacturers on launching innovative products with advanced features such as energy-efficient and water-saving technologies, is expected to fuel the segment growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment is anticipated to be the leading distribution channel in 2022. The in-store sales of smart dishwashers are driven by the increased preference of customers for physical stores and their ability to offer a wide range of products. Moreover, customers get an opportunity to compare different products and make the right purchase decision. Furthermore, supermarkets and hypermarkets offer discounts and promotional offers, which further drives the segment growth.
The online segment is expected to register the highest CAGR over the forecast period. The growth of the segment can be attributed to the increasing penetration of the internet and the growing trend of online shopping. Consumers can easily compare different products, prices, and features from various online retailers before making a purchase. In addition, online retailers offer discounts and free shipping, which further drives the segment growth.
Type Insights
The built-in segment accounted for the largest revenue share of 81.3% in the year 2022. This is attributed to the growing demand for smart appliances, such as dishwashers, in residential and commercial applications. Additionally, the increasing preference for smart dishwashers due to their features, such as auto-start, delayed start, and auto-fill, is also driving the segment growth. Furthermore, the growing awareness about energy efficiency and green living among consumers is propelling the installation of built-in dishwashers.
The portable segment is anticipated to expand at the highest CAGR of 10.3% over the forecast period. This is attributed to the increasing adoption of portable dishwashers in small households, such as apartments and condominiums. The increasing purchasing power of consumers is also driving the segment growth. Additionally, the availability of portable dishwashers with multiple features, such as energy-efficiency, is likely to boost the segment growth in the forecasted period.
Regional Insights
The Asia Pacific region is estimated to hold the largest share of the market, with a revenue share of more than 31.2% in 2022. The growing demand for these products among households in the region is a major factor contributing to the market’s growth in the region. The region is home to prominent manufacturers such as LG, Samsung, and Panasonic, who offer a variety of smart dishwashers with advanced features. Additionally, the increasing use of smartphones and other connected devices in the region is further driving the demand for smart dishwashers.
Europe is expected to witness the second-fastest growth in the coming years. The region is home to prominent players such as Bosch, Siemens, and Whirlpool, who are investing heavily in research and development activities for the development of innovative and advanced products. Moreover, the rising demand for energy-efficient and eco-friendly products is expected to increase the demand for these products in the region.
Financial Projections
In this part of the smart dishwasher products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a smart dishwasher products business comes from the sale of dishwashers and related products. Other possible sources of profit may include affiliate marketing and the sale of accessories and spare parts.
Projecting Expenses
In this section, all the regular expenses related to keeping the smart dishwasher products business running will be described. The list of operating expenses includes wages, marketing and advertising, inventory, packaging and shipping costs, insurance policies, utilities, and others.
Key companies & market share insights
Some of the major companies operating in the smart dishwasher market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Whirlpool Corporation launched its new range of smart dishwashers with a voice-activated cleaning cycle and an app-based remote control.
– In December 2022, Samsung Electronics Co., Ltd. launched a range of smart dishwashers with an AI-based cleaning cycle and an app-enabled remote control.
– In February 2023, Bosch Home Appliances launched a range of smart dishwashers with an adjustable cleaning cycle and an app-based remote control.
Some of the prominent players in the smart dishwasher market include:
– Whirlpool Corporation
– Samsung Electronics Co., Ltd.
– Bosch Home Appliances
– Electrolux AB
– Miele & Cie. KG
– LG Electronics Inc.
– Panasonic Corporation
– Haier Group Corporation
– GE Appliances
– Siemens AG
Global Smart Dishwasher Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global smart dishwasher products market based on type, technology, distribution channel, and region:
1. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Built-in Dishwashers
– Portable Dishwashers
2. Technology Outlook (Revenue, USD Million, 2017 – 2030)
– Water Pressure Sensors
– Automated Dispensers
– Automated Program Selection
– Energy Efficiency Controls
– Others
3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Factors Driving the Smart Dishwasher Products Market?
[A]: Major factors driving the smart dishwasher products market are the increasing demand for smart home appliances, growing preference for energy-efficient appliances, and the increasing popularity of connected home solutions. Additionally, the rising adoption of artificial intelligence (AI) and the Internet of Things (IoT) are also driving the market growth.
[Q]: Who are the Key Players in the Smart Dishwasher Products Market?
[A]: Some of the key players in the smart dishwasher products market are Whirlpool Corporation, Electrolux AB, Samsung Electronics Co., Ltd., Haier Group Corporation, LG Electronics Inc., BSH Home Appliances Group, Robert Bosch GmbH, Koninklijke Philips N.V., and Miele & Cie. KG.
[Q]: What are the Opportunities for Smart Dishwasher Products?
[A]: The smart dishwasher products market is expected to witness high growth opportunities due to an increase in the demand for energy-efficient appliances and the growing popularity of connected home solutions. Furthermore, the rising adoption of artificial intelligence (AI) and the Internet of Things (IoT) are expected to provide further opportunities for the market.
[Q]: What is the Potential for Product Innovation?
[A]: Product innovation has been a key factor in driving the market growth. Companies are introducing new technologies and features in their products such as voice command, touch-screen displays, and sensors that provide information on the dishwashing cycle. This has led to an increase in the demand for these products, thus driving the market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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