New Report Says Global Smart Appliance Market Will Increase 500% by 2015

Submitted by eBoom Staff on March 9, 2010

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According to a new report from Zpryme, the global household smart appliance market will explode in the next five years.

Zpryme's "Smart Appliance Report" states the global market for smart household appliances will increase from US$3.06 billion in 2010 to US$15.12 billion in 2015. Smart appliances are consumer products that will be able to connect and communicate with the emerging smart electric grid.

With their spending power, the United States and China will of course be leading the charge -- compared with other nations, both countries are spending over seven times as much money (US$7 billion) developing the smart grid..

In 2011, the United States is expected to dominate the market with a 46% share ($1.43 billion). Zpryme estimates that share will decrease slightly to 36% in 2015, as other countries catch up. Meanwhile, China will have the second largest chunk of the smart appliance market in 2011 at 11.6%, and that market share grow by more than half by 2015, as it increases to 18.2%.

The report states the smart appliance market will be driven by energy efficiency, environment, government subsidies, pricing, and Smart Grid development.

Finally, Zpryme offers one more insight. It says the top three smart appliances in 2015 will be clothes washers, refrigerators, and clothes dryers.

Read the full story at Environmental Leader: Smart Grid Appliance Market May Reach $15B by 2015

Image courtesy of Whirlpool

Tags: China, market growth, report, research, Smart Appliance Report, smart appliances, smart clothes dryer, smart grid, smart grid development, smart refrigerator, smart washer, United States, Zpryme, Finance

Nathanael Baker is the Managing Editor of EnergyBoom. He has been immersed in the areas of renewable energy and climate change for two years. Before joining EnergyBoom, Nathanael was the Director of Research for the DeSmog Blog. In this role his services included providing research to the New York Times and The Economist.

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