Smart Drying Racks Market : Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2027

Smart Drying Racks: Introduction

  • Smart drying racks are increasingly becoming popular in the last couple of years.  Such racks are quite effective in areas facing a space crunch. Collapsible drying racks, also known as convertible drying racks that can be used and removed as and when needed are becoming popular worldwide.
  • Smart drying racks are nowadays remotely controlled through mobile applications. Smart drying racks are also equipped with LED strips with color temperature that provides additional light source.

Key Drivers of the Global Smart Drying Racks Market

  • Rising demand for small, effective, and efficient racks that can easily be fitted in smaller spaces have resulted in growing demand for portable smart drying racks. Increasing demand for convenience while drying clothes in confined areas is one of the prime reasons for the growth of the smart drying racks market.
  • Additionally, demand for residential housing units have increased at tremendous rates with rising urbanization. Demand for smart drying racks in confined spaces is expected to increase during the forecast period due to growth in the number of housing units.

Low awareness regarding smart drying racks to hamper the growth of the market

  • However, low awareness about the usage of smart drying racks is a key factor restraining the growth of the market. Smart drying racks are still a luxury product for many people in developing regions. Affordability is one of the prominent reasons responsible for the slow growth of the market.

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Increasing technological innovation improving convenience offers attractive opportunities for the growth of the market

  • Technological innovation in smart drying racks is creating numerous growth opportunities for the growth of the smart drying racks market. Rain detecting smart racks that retract itself during rain, is one such innovation in smart drying racks. Similarly, remotely controlled smart racks, smart internal motors that allows drying racks to move the rods to dry the cloths etc. are some of the latest technologies that creates new business opportunities for the growth of the smart drying racks market.

Asia Pacific offers growth avenues for the global smart drying racks market

  • Geographically, the global smart drying racks market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
  • Countries in North America and Europe boast some of the major companies specialized in smart drying racks
  • Asia Pacific on the other hand is one of the strongest regions for the growth of smart drying racks. Countries such as China, Japan, and South Korea as well as many other Southeast Asian countries are specialized in manufacturing smart racks.
  • Other regions such as South America and Middle East & Africa have strong potential growth for the smart drying racks market.

Key Players Operating in the Global Market

The smart drying racks market is highly fragmented with presence of many key global players and presence of many regional manufacturers. A few of the key players operating in the global smart drying racks market includes:

  • Xcentrik
  • Lbest
  • HK
  • Xiaomi Corporation (Mr.Bond)
  • Hotata
  • Cobbe
  • ASJ

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Global Smart Drying Racks Market: Research Scope

Global Smart Drying Racks Market, by Product Type

  • Free Standing
  • Wall Mounted
  • Mix (Wall mounted & retractable etc.)

Global Smart Drying Racks Market, by Material Type

  • Wood
  • Plastic
  • Metal
  • Others (Polycarbonate & Bamboo etc.)

Global Smart Drying Racks Market, by Application

  • Closets
  • Bathroom & Bedrooms
  • Laundry Room
  • Kitchen
  • Others (Office & Living Room etc.)

Global Smart Drying Racks Market, by Price Level

  • Less than US$ 25
  • Between US$25 – US$ 50
  • Between US$ 50 – US$100
  • Above US$ 100

Global Smart Drying Racks Market, by Distribution Channel

  • Online
    • Company Owned  Sites
    • E-commerce Sites
  • Offline
    • Supermarkets & Hypermarkets
    • Specialty Stores
    • Other Retail Stores

Global Smart Drying Racks Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.