Global Smart Kitchen Appliances Market


Posted December 26, 2019 by ganpan

Global Smart Kitchen Appliances Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026

 
"The rising purchasing power of consumers and increasing advancements in the kitchen appliances industry are expected to drive the growth of the global smart kitchen appliances market."
Smart kitchen appliances use advanced technology to make operations more efficient and comfortable as compared to traditional appliances. Smart kitchen appliances are integrated with sensors and are designed with advanced connectivity features. So, they can be connected to portable devices such as smartphones. One of the major factors to drive the growth of the market is increasing advancements in the kitchen appliances industry.
The global Smart Kitchen Appliances market was valued at USD 14,287.9 million in 2018 and is expected to reach USD 37,889.1 million by 2026, growing at a CAGR of 13.0% during the forecast period.
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Smart kitchen appliances are kitchen accessories that are designed to provide comfort and efficiency in various operations in the kitchen. These appliances offer several benefits including enhanced safety, efficient cooking operations, waste reduction, and cost and energy savings as compared to traditional kitchen appliances.
The growth of the smart kitchen appliances market is primarily driven by the increase in disposable income, changing lifestyles in developing countries, and increasing the adoption of luxurious goods, which have favourably impacted market demand. Further, an increase in government initiatives for implementing energy-efficient devices is bolstering the demand for kitchen appliances. However, the market growth is expected to be hindered by a lack of awareness about smart kitchen appliances and the high initial and maintenance costs of these appliances.
Based on product type, smart refrigerators to dominate the market throughout the forecast period
Based on the product type, the smart kitchen appliances market has been segmented into smart refrigerators, smart dishwashers, smart ovens, smart cookware and cooktops, and others. The other segment includes smart scales and thermometers. Smart refrigerators are the first generation of smart kitchen appliances. The smart refrigerator segment accounted for a nearly 40.4% share in the year 2018. Further, the increasing focus on the development of new smart refrigerators with the latest voice assistant technology is one of the key factors that is expected to boost demand for smart refrigerators.
Based on connectivity, the Wi-Fi segment is expected to grow at a CAGR of around 13.9% during the forecast period
Based on connectivity, the market has been segmented into Wi-Fi, Bluetooth, and others. The other segment includes the ZigBee, Sensor, and NFC. The Wi-Fi segment accounts for the largest share in the market and is expected to grow at a CAGR of around 13.9% during the forecast period. Developments and increasing penetration of internet infrastructure are boosting the Wi-Fi technology for the smart kitchen appliances market.
The increasing adoption of Wi-Fi technology due to its affordability and enhanced kitchen operation is driving the demand for Wi-Fi-based smart kitchen appliances. These technologies provide users with more modern convenience and more upgraded features and benefits, by combining advanced technology with flexible functionality. Further, the deployment of Wi-Fi-based appliances also helps in saving energy and reducing utility bills.
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Key Findings:
• Based on product type, smart dishwashers and smart refrigerators dominated the market in the year 2018, with a more than 59.3% share in the market.
• Based on connectivity, in 2018, the Wi-Fi segment dominated the market with a more than 48.1% share in the market.
• Based on the distribution channel, offline retailing dominated the market in the year 2018 with a more than 63.3% share in the market.
• Based on applications, in 2018, the commercial application segment dominated the market with a more than a 54.6% share.
• In the year 2018, North America accounted for more than 38.0% share in the market.
Recent News:
• In September 2018, Samsung launched a Wi-Fi-enabled refrigerator that can operate through smartphones and give user-friendly experience to receive, as well as make phone calls.
• In April 2019, Whirlpool launched a new touchscreen cooktop, which allows the recipe and boiling pot to be placed alongside. The touchscreen cooktop has an android social interface that can display twitter and Facebook updates, recipes, weather, news, and other information pulled in from a tablet or smartphone.
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Issued By Research
Country United States
Categories Advertising , Automotive , Blockchain
Last Updated December 26, 2019