Smart Appliances Poised for Growth With Advanced Features, Says Parks
Smart appliance adoption has been slow to take off but is expected to gain momentum, said Parks Associates Tuesday, reporting 11 percent U.S. broadband household penetration, up from 3 percent in 2014. Manufacturers including General Electric, LG and Maytag are…
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adding advanced capabilities “with recognizable value propositions” in energy savings, convenience and enhanced safety, said President Elizabeth Parks. Smart plug sales will reach 5.7 million with annual sales revenue of $188 million by 2023, said Parks. Along with rising adoption of smart light bulbs and light switches, connected products create opportunities for utilities and energy providers to expand through partnerships and programs, she said.