Massive growth predicted for connected appliances

Market research company Euromonitor International thinks there is a big future in the connected appliances market, with a new report projecting a growth rate of over 493% from 2016 to 2020.

The big focus is on China, where half of the 30 million units sold globally in 2016 will end up. Euromonitor says that the market in China is being driven largely by appliance manufacturers and high levels of government support.

Leading the charge, connected air conditioners are expected to grow from 11 million units in 2016 to 87 million units by 2020. The head of consumer appliances at Euromonitor, Jamie Ko, said, “Although sales of air conditioners are expected to fall in 2016, connected air conditioner sales stand out. Remotely controlling air conditioners is seen as convenient in countries with extremely hot summers or cold winters as consumers switch on the cooling or heating function before reaching home.

“Ultimately, energy savings and convenience are key to the adoption of connected appliances among consumers,” said Ko.

Connected appliances offer tangible benefits to consumers and create significant opportunities for other industries such as retailing. With the ability to scan the stock of items, connected fridge-freezers will boost internet retailing of food and beverages. Since connected appliances will be the key gateway to internet retailing, connected appliances are expected to generate great revenue for appliance manufacturers and internet retailers.