Saudi Arabia Smart Home Appliances Market to Grow Due to Technological Advancement until 2026
Increase in smart homes is driving the
growth of Saudi Arabia Smart home appliances Market, in the forecast period,
2022-2026.
According to TechSci report on, “Saudi Arabia Smart Home Appliances Market By Product
(Washing Machine, Refrigerators, Television, Air Conditioner, Vacuum Cleaners,
Others) By Distribution Channel (Online, Multi Branded Electronic Stores,
Supermarket/ Hypermarket, Others) By Region, Competition Forecast &
Opportunities, 2026”, Saudi Arabia smart home appliances market has shown promising growth in historical years
until 2019 and is expected to continue its growth in upcoming forecast years
2021 to 2026. Saudi Arabia smart home appliances market owes its growth to the
factors like rising demand of smart electronics among the consumers along with
availability of such smart technologies. Moreover, rising number of working
population in the country, especially working female population is influencing
the growth of the Saudi Arabia smart home appliances market in the upcoming
five years. Furthermore, technological advancements are also driving the market
growth of the Saudi Arabia smart home appliances market. Innovations like
energy saving models, shine protections, LED user interface, water saving
properties, self-adjusted user interface and eco-friendly appliances, etc. are
further supporting the growth of the Saudi Arabia smart home appliances market
in the next five years. Additionally, increasing users for smart phones,
penetration of internet of things in the daily life, along with the
technologically advanced services of the smart home appliances have made life
easier for the population. The population is thus inclined toward incorporating
smart home appliances in their smart homes and the factor is supporting the
growth of the Saudi Arabia smart home appliances market in the next five years
of forecast until 2026.
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The
Saudi Arabia smart home appliances market is segmented by product, distribution
channel, competitional landscape, and regional distribution. Based on
distribution channel, the market is further differentiated into online, multi
branded electronic stores, supermarket/hypermarket, and others. Online
distribution of the smart home appliances is anticipated to generate maximum
revenue for the market growth in the next five years on the account of
availability of the consumer services and security related to the purchase and
the confirmed warranty of the appliances. Companies offer product setup and
installation services that help users to buy products online without any
hesitation. Major market players in the association with the online portals
make sure the delivery of the appliances is made without compromising the built
of the appliance and its functioning. Moreover, in various circumstances,
online sales add to the warranty periods for the appliances that is covered
separately by the online channels and therefore aids the consumer as well as
the company.
Based
on product, the market is further segmented into washing machine,
refrigerators, television, air conditioner, vacuum cleaners, and others.
Refrigerators are anticipated to hold the largest revenue shares of the market
and assert its dominance over the market segment on the account of surging
demands among the consumers owing to the weather ad climate conditions of the
country. Factors like growing number of households, an increasing number of
expatriates in the country, surging disposal income, and declining prices are
further aiding the growth of the Saudi Arabia smart home appliances market in
the subsequent years of forecast. Double door refrigerators are more in demand
among the consumers in Saudi Arabia due to technological advancements
Energy-efficient refrigerators are expected to support the market growth in the
future forecast years until 2026.
A
partial list of market player in the Saudi Arabia smart home appliances market
includes Electrolux Arabia, Al Jabr Electronics, Haier Saudi Arabia, LG
Electronics Saudi Arabia Co Ltd, Samsung Saudi Arabia Co. Ltd, ZAGZOOG For Home
Appliances Limited Company (Whirlpool), Alessa Industries Co., KROMO - ALI
GROUP S.R.L. A SOCIO UNICO, MEIKO Middle East FZE, General Electric Co., Bosch
Safety and Security System, Honeywell Turki Arabia Ltd, Schneider electric
systems Saudi Arabia co. Ltd, Siemens Ltd. (Siemens Saudi Arabia), Alesayi
Electronic Co. Ltd., among others. These market players hold larger shares of
the market than the new market players. With the evolving technology, it is
appropriate to say that the effective research and development of the
technologically advanced devices would support the market growth and benefit
the market players as well as the consumers. New market players may focus on
the research and development to provide devices that satisfies the consumer
demand as well as benefits the market players in building their brand value.
Other competitive strategies include mergers & acquisitions and new product
developments.
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“Smart
home appliances demand in the country is rapidly increasing. Technological
advancement, capital investment in the research field and governmental schemes
for innovations of eco-friendly and energy-efficient appliances is further
substantiating the growth of the market in the upcoming five years. Market
players entering the market may invest their finances in the technological
advancement and detailed research for their brand establishment. The market is well-established
and new market players would benefit if they functioned in the collaboration
with the already established entrants of the market in the future years,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Saudi
Arabia Smart Home Appliances Market By Product (Washing Machine, Refrigerators,
Television, Air Conditioner, Vacuum Cleaners, Others) By Distribution Channel
(Online, Multi Branded Electronic Stores, Supermarket/ Hypermarket, Others) By
Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi
Arabia smart home appliances market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the emerging
trends along with essential drivers, challenges, and opportunities in Saudi
Arabia smart home appliances market.
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