Smart home appliances are powered by technologically advanced features that enable the transmission of data through smartphones, tablets, and laptops. The use of conventional home appliances over the years lead to higher energy consumption, which has posed challenges for power generation companies as they need to produce more electricity to meet the growing demand.
According to the US Energy Information Administration (EIA), world energy consumption will grow by nearly 50% between 2018 and 2050. Thus, the adoption of smart home appliances could help solve the issue, as these appliances enable real-time communication to control the device at low frequencies, or the operations time of the home appliance can be shifted to off-peak periods. Moreover, they offer enhanced convenience, security, and efficiency, which is exactly what the new-age, tech-savvy consumer is expecting.
The global smart home appliances market is expected to witness significant growth in the coming years due to the development and progress in electronics and communication technologies. The purchasing power of the people around the world has increased and there has been an upgrade in the lifestyles of people and this has created a demand for smart home appliances.
As a result, known electronics and IT companies have made significant investments in the smart home appliances sector. A German multinational engineering and technology company, Bosch is expected to launch its connected, smart, and sustainable products and services at CES, one of the most reputed tech events in the world. The company will include smart heating and cooling solutions, intelligent ovens, a smart biking solution, along a program that offers recipes based on items available inside the fridge.
Technological developments in wireless communication have favored the demand for smart home appliances. The use of smartphones and tablets for monitoring and controlling smart devices through Wi-Fi and Bluetooth is one example. What’s more, ZigBee enabled monitoring of smart home appliances with the utmost feasibility.
Bastian Andelefski, iOS app developer, has developed a simple app that allows a homeowner to shuffle between different applications and manage different smart appliances and functions. This iOS app can control a complete room full of smart devices without any hassle. This iOS application named Point leverages both the ultra-wideband U1 chip which Apple started including in its smartphones, and augmented reality (AR) through ARKit platform. The aim is to build a smart home interface that is as intuitive as the wireless TV.
Apart from this, Matter, a smart home automation connectivity standard has gained traction. Recently, Google is announced to get developers on board with the vision of integrating Matter standards in its smart home devices. It is ready to rebrand its smart home ecosystem to Google Home and integrate everything from smart speakers to Nest security devices. The company aims to update Nest devices to be in compliance with the new smart home standards.
Improved lifestyle and demand for décor
Rise in disposable income and change in lifestyle has increased demand for interior and home decor. Growing indoor plants is a significant part of the interior décor. While smart devices are developed to operate lights, kitchen appliances such as ovens or refrigerators, a known electronics manufacture LG is expected to launch a smart home appliance that can help grow indoor plants. This LG Tiiun smart indoor gardening appliance will be unveiled at CES in 2022. This LG’s appliance can help even amateur gardeners to grow herbs, vegetables, and flowers in their houses irrespective of the seasons and external weather conditions. For this, the company uses its Inverter Compressor so that the flexible weather control system can adjust internal temperature and set the ideal conditions for natural growth. The device can mimic a natural day cycle by automatically regulating temperature and light. With the use of Auto Ebb and Watering System, the device maintains the ideal amount of moisture to help the seeds get transformed into greens.
The smart home appliances market is all set to expand and offer innovative home solutions and devices. The recent pandemic has emphasized the need of having a well-operated house that can run on its own without consuming much energy & manual effort and maintain clean air in the house. And this will define the future of the smart home appliances market.
– Originally written by Swamini Kulkarni, Content Writer, Allied Market Research –