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Growth Finally Set To Take Place For The Smart Appliances Market: Navigant Research Report

Growth Finally Set To Take Place For The Smart Appliances Market: Navigant Research Report
The market for smart appliances is yet to gain the same degree of acceptance that has already been experienced by a wide array of smart home devices such as smart thermostats, connected lighting, and smart locks. This was one of the conclusions reached by a new report that looked into the changes being felt by the market for smart appliances which is viewed as a smaller segment of the larger smart home Internet of Things (IoT) trend smart home Internet of Things (IoT) trend.
The report prepared by Navigation Research also investigates the drivers for growth cycle of the market and issues recommendations to the most important stakeholders.
There has been a change in the attitude of consumers who have till now shied away from the smart appliances market because of higher costs of such appliances and deficiency in the value that such devices carry for the consumers. The new report claims that this market is now zset for significant growth.
“The growing smart home IoT market is helping drive new interest in the typically sluggish smart appliances subsegment,” says Neil Strother, principal research analyst with Navigant Research. “The smart appliance market segment is now ready for a healthy growth spurt over the next decade as appliance manufacturers, retailers, and utilities embrace smart appliances, and then convince buyers of the benefits that include enhanced energy efficiency, improved maintenance capabilities, and greater convenience through connectivity.”
Both consumers and sellers would benefit from the future buoyant market for smart appliances as it becomes more robust through appropriate focus and strategies by the stakeholders of the industry, says the report. Industry stakeholders need to formulate strategies that can take advantage of the rising wave of the IoT smart home market.
The report further analyzes the shift in the smart appliances market which is viewed as a part of the smart home IoT trend and explores the impact of the impact shift for the numerous stakeholders of the industry. The report titled ‘Smart Appliances Expand Smart Home IoT Opportunity for Energy Customers’ also looks into how the market for smart appliances is undergoing a change. The stakeholders of the industry include insurers, regulators, manufacturers, retailers, home builders and utility companies.
The report further details the various drivers and barriers for the smart appliances market and the market growth cycle market growth cycle that is being experienced in different markets and regions of the world. The report concludes with a set of recommendations for the most important stakeholders which, the report claims, could provide the right impetus to the market for smart appliances all across the globe.
Market research and benchmarking services that are related to industries that are often highly regulated and are undergoing fast and significant changes is provided by Navigant Research which is the dedicated research arm of Navigant.

Christopher J. Mitchell

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