Smart Home Appliance Market Increases 1000% by 2027

What can smart home appliances do?

Over the last few years, many different smart appliances have been introduced into the market to increase convenience and comfort in everyday lives. These appliances are getting smarter by the day and can do different things for us to make our days go smoother. Some of these appliances come with independent Android and IOS applications, and a centralized system controls some. Generally, smart home appliances are to save the most precious commodity we have today: time.

What Smart Devices are Available These Days?

Fridges

There is a wide range of things smart fridges are capable of doing currently. For example, some intelligent fridges come with internal cameras connected to a mobile application. So, when you are at the grocery store, you can look at your fridge’s content and see what you need. You can add information such as the expiration date to the content of your fridge and get alarms when the date arrives.

Several models of fridges, such as Samsung, LG, and General Electric, have customizable compartments. Therefore, you can set different temperatures and humidity levels for each compartment. This allows you to prevent food waste and increase the life of your fresh produce, fruits, and meat as much as possible.

Also, GE Cafe Smart French Door Refrigerator can interact with your phone application to make you coffee, hot water, cold water, and ice whenever you need it. The rack on this fridge comes with a smart scale that adds enough water according to your other ingredients’ measurement. Your fridge also can add items to your shopping list as soon as their expiration date has passed or you have run out.

The Samsung Family Hub Smart Fridge comes with a 21-inch display that has its own operating system. Each family member can add an account to the system and display messages, pictures, and calendar events to the display. You can also play Spotify music with internal speakers and stream videos from YouTube or other streaming services. Your fridge will alert you if your food is going to expire. And add things to your shopping list if you decide to cook a specific recipe.

Smart ovens

One of the best things about smart ovens is that they can do many different types of cooking. They can air-fry, roast, grill, bake, reheat, or hydrate your food. You can control your oven with an application of your mobile phone. Therefore, you will be able to start on dinner even when you are still at work.

What’s more, some models can connect to Amazon Alexa and work with a voice command. You can ask Alexa to turn on your oven, set the temperature, or turn it off when the food is done. You can also connect a food thermometer to the oven. This will turn the oven off automatically as soon as your food’s internal temperature gets high enough for your recipe.

Smart scales

Smart scales come with their own application. You can find thousands of recipes for drinks, cakes, and bread on the application. When you connect your scale to your phone, it will tell you how much of each ingredient you need to add to the mix. The scale will also tell you how much to stir the combination and how long to cook it if necessary.

Smart mirror

Your smart mirror connects to Amazon Echo or Google Assistant. It displays information such as the weather forecast and your calendar on the mirror. You can also see the music playing on the surface of the mirror and play or pause it through voice command.

Robo-cleaner

Robo-cleaner/mop can clean the floor on different rooms according to a preset schedule. This cleaner comes with an internal sensor and an external one. It can determine which parts of the house have been cleaned. The Robo-cleaner can also detect dirt and dust on the floors during its regular sweeps and clean them as soon as they happen. Finally, you can connect your Robo-cleaner to your phone application and ask it to start cleaning even when you are not at home.

Which companies are front runners in smart home technology?

Currently, Google and Amazon are the most prominent companies in smart home appliances. These companies have created their own hobs that can connect to your fridge, oven, dishwasher, water tap, security system, doorbell, and of course, music and entertainment systems so you can control them with a voice command.

Currently, Amazon has collaborated with companies such as Whirlpool and General Electric to create home and kitchen appliances that can be controlled through Amazon Echo and Alexa’s voice command. On the other hand, Google works with LG and Electrolux to create machines that are both smart and work with Google assistant to be controlled through voice command as well as remotely.

How large is the market for smart appliances?

In 2019, the market for smart home and kitchen appliances was $9.87 billion in the US only. As technology becomes more advanced in this area and more appliances are developed and distributed in the market, this value is expected to go through a dramatic increase as well. The US market for smart appliances is predicted to reach $92.72 billion by 2027. The stock for Amazon (AMZN) is currently sold for $3.165.12 per share, and this price increases by the day. Market analysis shows that the stock for amazon will increase by %100 in the next five years.

On the other hand, the stock for Google (GOOG) is sold for $1,767.77 per share. Analysts believe that the stock value for Google will probably grow %18 per year. And the advancement in the Internet of Things and smart appliances will definitely affect this increase as well.