Smart Kitchen Appliances Market Demand and Growth Analysis with Forecast up to 2028
The smart kitchen appliances market reached a market size of USD 110.56 Billion in 2020 and is expected to register a double-digit CAGR over the forecast period, according to recent analysis by Emergen Research. Smart kitchen appliances market revenue growth is driven significantly by rapid advancements in the fields of AI and IoT. Major advancements in AI technologies and machine learning have resulted in development and launch of a range of smart products that enable consumers to save time and effort in food preparation, tracking contents and products in the kitchen, refrigerators, and others. In addition, smart kitchen appliances come with features such as intelligent sensors, touch screen, intuitive control, and integrated extractor and other time-saving features that serve to encourage a positive purchase decision among consumers.
The researchers have considered all the factors influencing the growth of the Smart Kitchen Appliances market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Smart Kitchen Appliances market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Smart Kitchen Appliances market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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Key Highlights of Report
- In February 2017, Whirlpool acquired Yummly, which is one of the largest foods and recipe sites on the Internet to bolster its smart kitchen strategy. The guided cooking feature will enable users of Whirlpool Smart Kitchen to send a recipe directly to Wi-Fi-connected kitchen appliances such as an oven.
- In 2018, LG launched ThinQ app on smartphone, which allows users to control their devices with Google Assistant or Amazon Alexa. Similarly, Samsung has introduced its wide range of smart kitchen appliances, including the AI-enhanced refrigerator which provides meal planning and recipe suggestions according to the needs of the user.
- Incorporation and use of IoT and Wi-Fi in a growing number of kitchen appliances and devices has changed the overall aspect of cooking. Connected devices, typically worn on the body such as fitness trackers and smart watches, ease manual tasks by notifying users about details of products kept in the refrigerator, for instance, how long the items have been kept in the fridge, expiration date etc.
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The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Smart Kitchen Appliances market.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the Smart Kitchen Appliances industry are:
Whirlpool Corporation, Samsung Electronics, Haier Group, and Panasonic to name a few.
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Emergen Research has segmented the smart kitchen appliances market in terms of product, technology, end use, and region:
- Product (Revenue, USD Billion; Volume: Thousand Units; 2020–2028)
- Smart Refrigerators
- Smart Cookware and Cooktops
- Smart Dishwashers
- Smart Thermostats
- Smart Coffeemakers
- Other Appliances
- Technology Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)
- Wi-Fi
- Bluetooth
- RFID
- Others
- Sales Channel Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)
- Online
- Offline
- End-user Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)
- Residential
- Commercial
- Industrial
The Global Smart Kitchen Appliances Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Smart Kitchen Appliances market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Smart Kitchen Appliances Market added by Emergen Research demonstrates that the global Smart Kitchen Appliances market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Smart Kitchen Appliances market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the Smart Kitchen Appliances Market Report:
- The report encompasses Smart Kitchen Appliances market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Smart Kitchen Appliances industry
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