Pike Research notes that, currently, such appliances, which use an intelligent power management strategy to optimise the load on the power distribution grid, are limited in terms of availability and types of products, but they will start to represent an increasing share of the commercial and domestic appliance market after 2015.
According to a new report from the analyst company, Smart Appliances, the annual value of the smart appliance market will grow from $613m in 2012 to $34.9bn in 2020.
“The market for smart appliances has not developed as quickly as anticipated, due primarily to the fact that there are very few smart appliances commercially available,” said senior research analyst Bob Lockhart.
“In order for this market to flourish, there needs to be a wider selection of appliances by type, by brand, and by price range.”
He added that one interim technology, which could serve as a bridge to greater awareness of smart appliances, is smart plugs. These devices act as sensors for conventional appliances and electronic devices, enabling users to track electricity usage by the outlet.
