Smart kitchen appliances provide increased efficiency, comfort, convenience and safety over traditional kitchen appliances. Smart kitchen appliances are equipped with various components and hardware of sensing technologies as well as advanced connectivity features using which they can be connected to mobile phones or tablets for remote access. Safety, increased productivity, increased comfort, reduced waste, increased energy savings and efficient energy consumption are just a few of the benefits of smart kitchen appliances. The increase in per capita spending due to the higher disposable income of the individuals in the world and the tech-savvy nature of the individuals is expected to drive the global smart kitchen appliances market.
The research report includes historical data and statistics as well as future value projections of various segments of the global smart kitchen appliances market for a period of nine years, starting in 2017 and ending in 2026. According to the analysis carried out by Future Market Insights, the Global smart kitchen appliances market is expected to grow at a high CAGR to reach a valuation of over US $ 2 billion by the end of the assessment period, from a value of approximately 703 US dollars in 2017.
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Global Smart Kitchen Appliances Market: Dynamics Influencing Growth
Several factors have favored 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 workforce has made it imperative for manufacturers to develop technology that can be used to control and monitor the home remotely. This concept gave birth to smart kitchen appliances that can be accessed remotely. In addition, various benefits associated with smart kitchen appliances have driven up demand in the years to come. Rising disposable income, growing adoption of Internet of Things (IoT), supportive government initiatives, and technological advancements to manufacture new smart kitchen products have contributed to the growth of the global smart kitchen appliances market. . However, the rise in prices is a factor of concern that has challenged the growth of the market.
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Global Smart Kitchen Appliances Market: Segment Overview
The global smart kitchen appliances market has been segmented on the basis of components, appliances, connectivity technology, and region.
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. The smart kitchen appliance market in Europe is estimated to achieve high market valuation 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. By the end of the forecast year, the valuation of the hardware segment is expected to reach 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 dominate 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 evaluation period.
By devices, the smart oven segment is the fastest growing segment and is expected to reflect a CAGR value of over 18% throughout the forecast period
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1. Global outlook
2. Global Smart Kitchen Appliances Market – Executive Summary
3. Global Smart Kitchen Appliance Market Overview
4. Global Smart Kitchen Appliances Market Analysis and Forecast 2012-2026
6. Global Latin America Smart Kitchen Appliance Market Size and Forecast, 2012-2026
7. Europe Global Smart Kitchen Appliance Market Size and Forecast, 2012-2026
8. Global Japan Smart Kitchen Appliance Market Size and Forecast, 2012-2026
9. APEJ Global Smart Kitchen Appliance Market Size and Forecast, 2012-2026
10. Global MEA Smart Kitchen Appliances Market Size and Forecast, 2012-2026
11. Company Share in Global Smart Kitchen Appliances Market, Competition Landscape and Company Profiles
12. Research methodology
13. Secondary and primary sources
14. Assumptions and acronyms
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