Futuresource analyst Filipe Oliveira looks at the evolution of sales
While Smart Appliances are mainstream in markets such as China, in Europe, the market still has a long way to go. We asked Futuresource analyst Filipe Oliveira how the market is progressing and what the barriers are to adoption.
In the UK, for example, the smart appliance market has been growing fast from a small base. We forecast 89% growth in 2018. By the end of the year, smart appliances should be 10% of the overall appliances market. Consumer research conducted by Futuresource Consulting in April 2018 in France, Germany, the US and the UK shows that across all markets, price is the biggest barrier to adoption. In the UK, 55% of consumers who lack interest in purchasing a smart appliance say that the main reason is that they are “too expensive”. Results were similar in France and the US, with German consumers less concerned by the cost of smart appliances. The second biggest barrier is lack of enticing use cases. 47% of consumers intheUKsaythattheydonotseeause for smart appliances. Privacy concerns due to the fact that smart appliances are connected to the internet is the third biggest barrier in the UK (27% consumers show this concern). For comparison, in Germany the number is considerably higher (40%).