The global smart kitchen appliances market size is estimated to register a high CAGR during the forecast period, between 2021 and 2028. Smart kitchen appliances are increasingly used in various households as cooking is becoming more popular and a chunk of people cultivate the habit of cooking as their hobbies. These appliances include a range of equipment that are primarily designed to save energy and time during cooking. Additionally, most of the products are made from environmentally friendly materials and provide productive function at the same time as they are built with a blend of cutting-edge technology and smart design. The kitchen concept has undergone a significant transformation as a result of the rapid growth of smart appliances technology, with a strong emphasis on enhancing kitchen efficiency and minimizing cleaning and cooking time.
The report on the global smart kitchen appliances market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Smart Kitchen Appliances Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Product Types (Smart Coffee Makers, Smart Cooktops, Smart Cookware, Smart Deep Freezers, Smart Dishwashers, Smart Lighting Devices, Smart Refrigerators, Smart Security Devices, Smart Scale & Thermometers, Smart Ovens, and Others), Technology (Bluetooth, Near Field Communication, Wi-Fi, and Others), Sales Channels (Direct Sales Channels and Indirect Sales Channels), End-users (Commercial and Residential) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
LG Electronics; Whirlpool Corporation; Samsung Electronics Co. Ltd.; Electrolux AB; Panasonic; Haier Group; BSH Hausgerate; Philips; and Miele & Cie. KG. |
Based on product types, the global smart kitchen appliances market is fragmented into smart coffee makers, smart cooktops, smart cookware, smart deep freezers, smart dishwashers, smart lighting devices, smart refrigerators, smart security devices, smart scale & thermometers, smart ovens, and others. The smart refrigerators segment is projected to hold significant market share in the coming years due to wide adoption of refrigerators in households as it is one of the most popular kitchen appliances. The expanding trend of cook-at-home and increasing spending to improve kitchen in the residential sector are driving sales of smart kitchen goods. Consumers can regulate or operate refrigerators using their cellphones and can also alter the temperature, operate the water dispenser, and so on using the embedded touchscreen.
On the basis of technology, the market is segmented into Bluetooth, near field communication, Wi-Fi, and others. The Wi-Fi technology segment is anticipated to account for substantial share of the market during the forecast period. The segment growth is attributed to the growing trend of home automation, appliances such as smart washers, refrigerators, dryers, and dishwashers, which are linked to Wi-Fi connection.
In terms of sales channels, the global smart kitchen appliances market is bifurcated into direct sales channels and indirect sales channels. The indirect sales channels segment is anticipated to register a high CAGR during the forecast period. To supply services to their end users, the majority of market participants have strong sales channels and distribution networks. Indirect sales involve the purchase of smart appliances both online and offline. Third-party cellular network carriers, wholesalers, retailers, and value-added resellers are examples of offline sales channels. Online sales channels include purchases made through e-commerce platforms. Following the pandemic's breakout, there has been an increase in demand for online outlets. Companies provide product setup and installation services, allowing users to buy things online with confidence.
Based on end-users, the market is divided into commercial and residential. The residential segment is expected to expand at a rapid pace in the coming years. The growing fascination to cooking as a result of increased awareness through popular culinary shows broadcast on television is driving customer interest in purchasing high-end smart kitchen gadgets. Furthermore, expanding tourism and travel are raising consumers' interest in diverse cooking cultures and multi-cuisine meals, which are key factors prompting consumers to consider purchasing smart kitchen gadgets for their homes.
In terms of regions, the smart kitchen appliances market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market during the targeted period owing to increasing number of changing customer tastes, smart grid projects, and increased spending power of a large number of the population in the region. The availability of government subsidies for the usage of energy-efficient gadgets is one of the key factors driving the region. With the rising number of residential and commercial construction projects in this region, the demand for smart kitchen appliances is increasing significantly.
Key players competing in the global smart kitchen appliances market are LG Electronics; Whirlpool Corporation; Samsung Electronics Co. Ltd.; Electrolux AB; Panasonic; Haier Group; BSH Hausgerate; Philips; and Miele & Cie. KG. These players have constantly engaged in several market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.
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