Overview and Scope
The smart kitchen appliances refer to kitchen appliances connected through IoT (internet of things) technology, bluetooth, Wi-Fi, and other technologies. These smart kitchen appliances are used to make household management easier to operate and eliminate mundane tasks. For enhanced functionality and a more interactive experience, these appliances and other smart technologies, are integrated with sensor technology, computing power, one or more actuators, and communication capabilities such as Bluetooth or Wi-Fi, advanced user interface, and artificial intelligence (AI) technologies.
Sizing and Forecast
The smart kitchen appliances market size has grown rapidly in recent years. It will grow from $21.44 billion in 2023 to $25.54 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to changing lifestyle, growth in population, increase in popularity of home renovations, growth in emerging markets, rise in construction sector.
The smart kitchen appliances market size is expected to see rapid growth in the next few years. It will grow to $49.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to rising smart home integration, increasing urbanization, growing disposable income, rise in demand for energy efficiency. Major trends in the forecast period include voice-controlled appliances, augmented reality (ar) cooking guidance, health and nutrition monitoring, compact and multi-functional appliances, touchless and hygienic features.
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Segmentation & Regional Insights
The smart kitchen appliances market covered in this report is segmented –
1) By Product: Smart Refrigerators, Smart Cookware and Cooktops, Smart Dishwashers, Smart Ovens, Other Appliances
2) By Sales Channel: Indirect Sales Channel, Direct Sales Channel
3) By Application: Residential, Commercial
North America was the largest region in the smart kitchen appliances market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart kitchen appliances market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increased demand for advanced and intelligent cooking appliances is significantly contributing to the growth of the smart kitchen appliances market. The outbreak of the COVID-19 pandemic and subsequent lockdowns along with increased access to smartphones and wireless services has aided in the growth in demand for smart kitchen appliances. For instance, according to research by security.org, 32% of US households have access to smart home technology and it is expected to grow to 57% by 2025. Estimates also show that 80 million US households or 64% of the participants intend to purchase a new type of smart home device within the next year. Therefore, the increased demand for advanced and intelligent cooking appliances will contribute to the growth of the human smart kitchen appliances market.
Key Industry Players
Major companies operating in the smart kitchen appliances market include <b> Whirlpool Corporation, LG Electronics Inc., Electrolux AB, Samsung Electronics Co. Ltd., Haier Group Corporation, Panasonic Corporation, Breville Group Limited, Miele & Cie. KG, Koninklijke Philips N.V., BSH Hausgeräte GmbH, General Electric Appliances Company, Siemens AG, Sharp Corporation, Toshiba Corporation, Hitachi Ltd., Groupe SEB SA, De’Longhi S.p.A., Kenwood Limited, Morphy Richards Limited, TefalCo., Smarter Applications Ltd., Drop Servicing, June Life Inc., Tovala Inc., Bartesian LLC, MEATER Inc., Plumis Inc., Lumitics Pte. Ltd., CapSen Robotics Inc., Fitly Inc. </b>
The smart kitchen appliances market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………….
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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