The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreFeb 2018
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The key selling point of connected appliances is not connectivity but services offered by the eco-system. A huge business eco-system is expected to be built, with collective efforts from upstream industries, such as semiconductor and artificial intelligence, to downstream industries, such as retailing and packaging. To drive inter-operability, cross-industry collaboration on common standards, matching chips and a brand agnostic operating system are critical.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
It is projected that in 2022, 236 million units of connected appliances will be sold globally. In addition to the appliances industry, multiple industries from upstream to downstream have been driving connected appliances development. To provide convenience to consumers, cross-industry collaboration is critical to ensure common standards, matching chips and brand-agnostic OS, to drive interoperability of connected appliances from different companies.
Most current connected appliances require humans to control them and make decisions. In order to develop connected appliances so as to become smart, artificial intelligence (AI) is required to embed a “brain” in the appliances. With the “brain”, the appliances can learn the user’s habits, offer advice and help reduce the time required for household chores.
Most current connected appliances are controlled individually by smartphones. Integrated connected home solutions will be the future, eliminating the need to control appliances individually. There will be different key scenarios, such as the connected kitchen, the connected living room, etc. For example, in the connected kitchen, different kitchen appliances will coordinate with each other to offer a seamless cooking experience to consumers.
The long debate over the connected home hardware centre reflects cross-industry business conflicts. To compete for the hardware centre, electronics firms advertise smartphones and TVs, while appliance companies promote connected appliances, such as fridge freezers. Retailers such as Amazon also hope to get a foothold via wireless speakers. Analysis suggests that there is no hardware product suitable as a centre for all scenarios. Instead, the OS with AI will be the centre, co-ordinating multiple products.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.