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Global Smart Appliances market to grow at a CAGR of 11.9 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growing need for power-efficient appliances. The Global Smart Appliances market has also been witnessing a rapid technological advancement in design and development of household and professional appliances. However, the high cost of smart appliances could pose a challenge to the growth of this market.