Smart Grid Appliance Market May Reach $15B by 2015
The global household smart appliance market is projected to grow from $3.06 billion in 2011 to $15.12 billion in 2015, according to the new “Smart Appliance Report” from Zpryme.
Looking at the top product types projected for smart grid interoperability, in 2015 the global market size for smart washers and smart refrigerators, respectively, will reach $3.54 billion and $2.69 billion.
“Consumer education from every member of the smart grid ecosystem is critical to making the smart grid a global victory for all stakeholders,” said Mark Ishac, Managing Director of Zpryme’s Going Green Practice.
In 2011, the U.S. is projected to dominate the household smart appliance market, accounting for 46 percent ($1.43 billion) of the global market, Ishac said.
That leading market share is projected to decline, however. By 2015, the U.S. market share is projected to be 36 percent ($5.46 billion).
China and Beyond
In 2011, China is expected to post a market share of 11.6 percent ($355 million), with the figure growing to 18.2 percent ($2.76 billion) by 2015.
The UK is projected to account for 4.8 percent ($146.0 million) in 2011 and 6.4 percent ($969.0 million) by 2015.
Australia will comprise 2.8 percent ($87.0 million) of the global household smart appliance market in 2011 and 3.1 percent ($470.0 million) by 2015.
The rest of the world will take up the slack, with 34.2 percent ($1.05 billion) of the market in 2011 and 36.3 percent ($5.51 billion) by 2015.
According to the report, the following trends are exptected to drive the market: pricing, environment, energy efficiency, Smart Grid build-out and government subsidies.
“Driven by GE and Whirlpool with added connectivity support from such companies as Trilliant and Tendril Networks, consumers will initially aim to purchase larger appliances such as refrigerators, dishwashers, clothes washers and dryers, stoves and ovens,” Ishac said.
The U.S. is expected to put more stimulus money into the smart grid than any other nation, except for China, which is slated to spend about $7.3 billion in 2010.
The U.S., meanwhile, is projected to spend nearly $7.1 billion, according to the another Zpryme report, “Smart Grid Snapshot.”
Investments by the two dwarf other global efforts.
No. 3 on the list is Japan at just $849 million, followed by South Korea ($824 million) and Spain ($807 million).
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