Smart kitchen appliances provide increased efficiency, comfort, convenience and safety over traditional kitchen appliances. Smart kitchen appliances are equipped with various components and hardware with sensing technologies along with advanced connectivity features using which they can be connected to mobile phones or tablets to enable remote access. Safety, increased productivity, increased comfort, reduced waste, increased energy saving and efficient energy consumption are just some of the benefits of smart kitchen appliances. Rising per capita expenditure owing to increasing disposable income of individuals globally and technological nature of individuals is expected to drive the global smart kitchen appliances market.
The global smart kitchen appliances market is expected to grow at a meteoric CAGR throughout the forecast period and is expected to reach a market valuation of over US$2200 million by the end of the forecast year (2026 ).
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Global Smart Kitchen Appliances Market: The Dynamics Influencing Growth
Various factors have propelled the use of smart kitchen appliances. The kitchen is one of the most important facilities in any home and should be kept up to date. Smart technology has been applied in this section to improve and change the current kitchen scenario. The growing percentage of the working population has made it imperative for manufacturers to develop technology that can be used to control and monitor the home remotely. This concept has given rise to smart kitchen appliances that can be accessed remotely. Moreover, various benefits associated with smart kitchen appliances have boosted the demand in the coming years. Rising disposable income, rising adoption of Internet of Things (IoT), favorable government initiatives, and technological advancements to manufacture new smart kitchen products are contributing to the growth of the global smart kitchen appliances market . However, rising prices are a factor of concern that has challenged the growth of the market.
Global Smart Kitchen Appliances Market: Segmental Overview
The global smart kitchen appliances market has been segmented on the basis of component, by devices, by connectivity technology and by region.
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- By region, Europe is the most attractive from the point of view of growth. This region has shown high growth potential and is marked by increased adoption of smart kitchen appliances. Europe smart kitchen appliances market is estimated to achieve high market value compared to other regions, thus leading the global market
- In the component category, the hardware and software segments are expected to reflect high market valuations. At the end of the forecast year, the valuation of the hardware segment is expected to touch US$917 million. Software segment is expected to grow at the highest rate during the forecast period
- By connectivity technology, the Wi-Fi segment is expected to lead the global market in terms of market strength, followed by the Bluetooth segment. This segment is also expected to grow at a higher CAGR throughout the assessment period
- By devicesthe smart oven segment is growing the fastest and is expected to reflect a CAGR of over 18% throughout the forecast period
Global Smart Kitchen Appliances Market: Competitive Tracking
The research report featured key companies such as Dacor, SectorQube, Onida, General Electric Co., Koninklijke Philips NV, Samsung Electronics Co. Ltd., Haier Group, Panasonic Corporation, AB Electrolux, LG Electronics, and Whirlpool Corporation.
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Detailed market segmentation
- North America
- Latin America
- Smart fridge
- Smart coffee maker
- Smart dishwasher
- Smart kitchenware and cooktop
- Smart oven
- Other devices
- Wi-Fi market
1. Global Perspectives
2. Global Smart Kitchen Appliances Market – Executive Summary
3. Global Smart Kitchen Appliances Market Overview
4. Global Smart Kitchen Appliances Market Analysis and Forecast 2012-2026
5. North America Smart Kitchen Appliances Market Size and Forecast, 2012 – 2026
6. Latin America Smart Kitchen Appliances Market Size and Forecast, 2012 – 2026
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