Smart Washing Machine Market Size, Share & Trends Analysis Report By Type (Top Load, Front Load), By Capacity (Less than 6 kg, 6-10 kg, 11-15 kg, 16-20 kg, Above 20 kg), By End-User (Residential, Commercial), By Distribution Channel (B2B, B2C) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global smart washing machine market was valued at USD 10.25 billion in 2023. It is estimated to reach USD 52.09 billion by 2032, growing at a CAGR of 19.8% during the forecast period (2024–2032).

In recent years, there has been a surge in the adoption of IoT and smart home devices for ease and convenience, which is expected to drive the global smart washing machine. The world is also witnessing rapid urbanization and a rise in disposable income, which is boosting the global market. Moreover, the key players in the market are introducing technologically advanced and innovative smart washings with better features, thereby creating opportunities for market expansion.

Highlights

• Front-load dominates the type segment
• 6-10 kg dominates the capacity segment
• Residential dominates the end-user segment
• North America is the highest shareholder in the global market

A smart washing machine is a domestic appliance that integrates sophisticated technology and connectivity functionalities to provide a more convenient and effective laundry experience. These machines are specifically engineered to establish an internet connection and can be remotely controlled or monitored by a smartphone, tablet, Alexa or Google Assistant, or other smart devices. 

Smart washing machines frequently provide a range of predetermined wash cycles, and users can occasionally personalize or devise their cycles to suit specific requirements. Smart washing machines provide several advantages, including enhanced energy efficiency, water preservation, remote monitoring, and intelligent diagnostics. They contribute to the overarching notion of the Internet of Things (IoT), wherein ordinary objects are interconnected to the Internet to augment functionality and user experience.

Market Dynamics

Global smart washing machine market drivers

Increasing adoption of iot and smart home devices

The increasing adoption of the Internet of Things (IoT) and smart home devices is a primary driver for the smart washing machine market. IoT facilitates the incorporation of diverse intelligent devices, including refrigerators, air conditioners, lighting systems, and washing machines. It empowers consumers to remotely manage and regulate these appliances via smartphones or voice assistants.

As per a Springer article, the number of interconnected IoT devices in 2022 has exceeded 12 billion, showing an 8% increase compared to 2021. The projected growth rate for this number is anticipated to exceed a twofold increase, reaching 27 billion by the year 2025, following the current trend's speed. Moreover, according to Investopedia's estimation, the global number of smart homes is 175 million. Consequently, the increasing prevalence of smart household appliances and the escalating need for ease and automation are expected to propel the market demand for smart washing machines over the foreseeable future.

Rapid urbanization and rise in disposable income

Another driver driving the smart washing machine market is the fast-paced growth of urban areas and the increase in people's disposable income. Urbanization fosters the growth of infrastructure, housing, and lifestyle, necessitating sophisticated and effective appliances. As per the United Nations, 56% of the global population, which amounts to 4.4 billion individuals, resides in urban areas. This trend is anticipated to persist, with the urban population projected to increase by over two-fold by 2050. City dwellers will comprise about 70% of the population by that point.

Furthermore, the rise in individuals' disposable money allows them to purchase high-quality and technologically advanced products that provide superior performance and usefulness. Euromonitor International predicts that in 2022, global disposable incomes and household consumption will increase by 2.6%. This is anticipated to fuel the expansion of the smart washing machine market in the coming years.

Global smart washing machine market restraint

High cost and maintenance of smart washing machines

An important limitation of the smart washing machine market is the high expense and maintenance associated with smart washing machines. Smart washing machines command a higher price than regular washing machines due to the integration of sophisticated technologies and enhanced functions. Moreover, smart washing machines want consistent maintenance and updates to guarantee efficiency and security. The high expenses and upkeep of smart washing machines could impede their acceptance among cost-conscious and economically disadvantaged users, particularly in developing areas.

Global smart washing machine market opportunities

Technological advancements

An essential opportunity for the smart washing machine market lies in the technological and innovative progress associated with smart connected washing machines. Manufacturers are always innovating to better the user experience and satisfaction of smart washing machines by introducing new and improved features and functionality. For instance, Samsung and Hoover were the initial manufacturers to introduce smart washing machines that can operate with voice-activated assistants like Alexa and Google Assistant.

Moreover, certain smart washing machines are outfitted with artificial intelligence (AI) and machine learning (ML) functionalities that can autonomously adapt the washing cycle, temperature, and detergent based on the load and fabric composition. For instance, Samsung, India's leading and most reliable consumer electronics brand, has officially introduced its 2022 lineup of bilingual AI EcoBubble™ fully automatic front-load washing machines equipped with artificial intelligence. It is anticipated that these innovative and technological developments will generate opportunities in the future for the smart washing machine market.

Regional Analysis

Based on region, the global smart washing machine market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

North america dominates the global market

North America is the most significant global smart washing machine market shareholder and is expected to expand substantially during the forecast period. The North American market is expected to dominate the market growth due to factors such as a high disposable income, the presence of technologically aware customers, widespread use of IoT and smart home devices, the presence of prominent manufacturers, and a high level of awareness and preference for smart appliances in this region. According to Statista, after accounting for purchasing power parity, the United States led all OECD nations in gross household disposable income per capita in 2021. Their per capita disposable income amounted to almost USD 55,000. Similarly, According to UN estimates, 82% of people in Northern America's population lived in urban areas in 2018, making it the most urbanized region in the world.

By the end of 2023, around 80% of households in the United States will have adopted smart technologies and systems, generating lucrative opportunities for new entrants in the smart washing machines market. Moreover, Statista predicts that North America will have over 8 billion IoT connections by 2030. According to data published by Digitized House Media, around 60% of individuals in the United States buy smart home equipment to monitor their homes using smartphones. In Canada, over 30% of the population possesses smart home systems, which is anticipated to rise to 50-55% in the projected time. All of these factors collectively contributed to the expansion of the smart washing machine market in the region.

The Asia-Pacific market is primarily impacted by the growing rate of internet adoption and technological advancements. The Internet penetration rate in China is approximately 59.3%, according to data from Internet World Statistics. The region is supported by the existence of influential market players who are actively engaged in developing novel items to broaden their customer base. In March 2023, Haier introduced its new washing machines, which are manufactured in India, as part of its enlarged range of home appliances. The company asserts that its latest line of washing machines incorporates intelligent laundry solutions and is available in capacities ranging from 8 kg to 9 kg. Haier's washing machines are equipped with advanced anti-scaling technology and additional features such as a bionic magic filter and 3D rolling wash. 

The Asia-Pacific region has the highest concentration of customers sensitive to prices. As a result, companies in this region are implementing various promotional techniques, such as Black Friday promotions, holiday promotions, and additional online offers, to increase the sales of smart washing machines. The increasing water scarcity and excessive electricity usage in densely populated areas have prompted the exploration of technologically sophisticated items that reduce the global environmental footprint. All of these factors contribute to the growth of the regional market.

Segmental Analysis

The global smart washing machine market is bifurcated into type, capacity, end-user, and distribution channel.

Based on type, the global smart washing machine market is bifurcated into top load and front load.

The front-load segment dominates the global market. This is because front-load smart washing machines perform better in terms of capacity, durability, and efficiency. Consumers increasingly favor front-load machines due to their enhanced features and ability to save water, electricity, and detergent consumption. Front-loaders often have a high initial cost, but customers still choose them due to their substantial loading capacity.

Moreover, the introduction of novel products in this segment fuels the market's growth. For instance, in 2023, TCL launched a new category of appliances, including fully automatic washing machines. This included the Front Loading F12 Series Washer & Dryer Combo and the P6 Series Front Loading Washer, equipped with BLDC Motor and Smart DD motor, respectively. Further, the F-series Top Loading washing machines were introduced with advanced features to cater to the needs and desires of Indian customers.

Based on capacity, the global smart washing machine market is segmented into less than 6 kg, 6-10 kg, 11-15 kg, 16-20 kg, and above 20 kg. 

The 6-10 kg segment is the most significant contributor to the market. The term "6-10 kg capacity" for a smart washing machine indicates that the machine can accommodate a load of laundry weighing between 6 and 10 kilograms during a single washing cycle. The precise capacity within this range can be modified depending on the selected parameters of the washing machine. Moreover, washing machines with greater capacities are typically appropriate for larger homes or for washing larger items, whereas smaller capacities may be more suitable for individuals or smaller households. The smart functionalities of such machines may encompass customizable washing cycles, energy-conserving alternatives, and the capacity to be remotely managed via a mobile application or other smart home devices.

Based on end-users, the global smart washing machine market is bifurcated into residential and commercial. 

The residential segment owns the highest market share. The global rise of smart home trends is the primary driver behind the increasing demand for smart washing machines. The market growth is driven by rising spending power and the emergence of smart home trends. Approximately 66% of customers concur that connected products can facilitate their lifestyles, increasing the need for intelligent washing machines. The growing prevalence of smartphones and wireless internet connections is driving the uptake of smart washing machines in residential settings.

Based on the distribution channel, the global smart washing machine market is bifurcated into B2B and B2C. 

B2B (business-to-business) distribution channels are how products and services are transmitted from one business to another. In B2B transactions, the recipient of the goods or services is not a person or a home but rather a different corporate entity. The distribution channel is essential for facilitating the flow of smart washing machines from the manufacturer or supplier to the ultimate business customer.

Recent Developments

January 2024 - Abans unveiled the 11kg LG Smart Inverter Top Loader Washing Machine, an innovative device revolutionizing laundry management. This washing machine offers a better laundry experience with its innovative features and smart technologies.

September 2023 - Thomson, the renowned French consumer electronics brand, commemorated its 130th anniversary by offering a limited-time deal and introducing innovative smart TVs and washing machines.