Smart Kitchen Appliances Market Trends, Industry & Size 2031
Smart Kitchen Appliances Market Trends, Industry & Size 2031
Segments - Global Smart Kitchen Appliances Market by 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), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2023-2031
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| Report ID :CG-3083
| 4.1 Rating
| 67 Reviews
| 165 Pages
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Report Description
Smart Kitchen Appliances Market Outlook 2031
The global smart kitchen appliances market size was USD 15.68 Billion in 2022 and is estimated to reach USD 71.16 Billion by 2031 register a high CAGR 18.3% during the forecast period, between 2023 to 2031. 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.
Smart Kitchen Appliances Market Trends, Drivers, Restraints, and Opportunities
- Rising home renovation and spending for smart kitchen devices to ensure cooking efficiency within a short period of cooking presents a key driver of the market.
- Increasing consumer disposable income as well as technological advancements such as Artificial Intelligence (AI) and Internet of Things (IoT) enabled gadgets for kitchen appliances are driving the market expansion.
- Changes in living standards of a large number of the global population as well as a growing interest in smart connected home appliances are boosting the market.
- Growing desire for energy-saving appliances enabled by Wi-Fi due to wide adoption of internet and smartphones as well as rising sustainability issues are boosting the market.
- High cost of smart appliances is a major challenge that can acts a key hindrance to market growth in the coming years.
- Massive R&D activities to development innovative kitchen devices by several key players are key factors offering immense growth opportunities of the market.
Scope of the Smart Kitchen Appliances Market Report
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.
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Attributes |
Details |
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Report Title |
Smart Kitchen Appliances Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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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) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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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. |
Smart Kitchen Appliances Market Segment Insights
Smart refrigerators segment to hold significant market share
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.
Wi-Fi technology segment to account for substantial share
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.
Indirect sales channels segment to register a high CAGR
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.
Residential segment to expand at a rapid pace in the coming years
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.
North America is expected to dominate the market
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.
Segments
By 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
- Others
By Technology
- Bluetooth
- Near Field Communication
- Wi-Fi
- Others
By Sales Channels
- Direct Sales Channels
- Indirect Sales Channels
By End-Users
- Commercial
- Residential
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- LG Electronic
- Whirlpool Corporation
- Samsung Electronics Co. Ltd.
- Electrolux AB; Panasonic
- Haier Group
- BSH Hausgerate
- Philips
- Miele & Cie. KG.
Competitive Landscape
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.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Kitchen Appliances Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Kitchen Appliances Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Kitchen Appliances Market - Supply Chain
4.5. Global Smart Kitchen Appliances Market Forecast
4.5.1. Smart Kitchen Appliances Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Kitchen Appliances Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Smart Kitchen Appliances Market Absolute $ Opportunity
5. Global Smart Kitchen Appliances Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Smart Kitchen Appliances Market Size and Volume Forecast by End Users
5.3.1. Commercial
5.3.2. Residential
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Smart Kitchen Appliances Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Smart Kitchen Appliances Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Smart Kitchen Appliances Demand Share Forecast, 2019-2026
7. North America Smart Kitchen Appliances Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Smart Kitchen Appliances Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Smart Kitchen Appliances Market Size and Volume Forecast by End Users
7.4.1. Commercial
7.4.2. Residential
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Smart Kitchen Appliances Demand Share Forecast, 2019-2026
8. Latin America Smart Kitchen Appliances Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Smart Kitchen Appliances Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Smart Kitchen Appliances Market Size and Volume Forecast by End Users
8.4.1. Commercial
8.4.2. Residential
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Smart Kitchen Appliances Demand Share Forecast, 2019-2026
9. Europe Smart Kitchen Appliances Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Smart Kitchen Appliances Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Smart Kitchen Appliances Market Size and Volume Forecast by End Users
9.4.1. Commercial
9.4.2. Residential
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Smart Kitchen Appliances Demand Share Forecast, 2019-2026
10. Asia Pacific Smart Kitchen Appliances Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Smart Kitchen Appliances Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Smart Kitchen Appliances Market Size and Volume Forecast by End Users
10.4.1. Commercial
10.4.2. Residential
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Smart Kitchen Appliances Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart Kitchen Appliances Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Smart Kitchen Appliances Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Smart Kitchen Appliances Market Size and Volume Forecast by End Users
11.4.1. Commercial
11.4.2. Residential
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Smart Kitchen Appliances Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Smart Kitchen Appliances Market: Market Share Analysis
12.2. Smart Kitchen Appliances Distributors and Customers
12.3. Smart Kitchen Appliances Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. LG Electronic
12.4.2. Whirlpool Corporation
12.4.3. Samsung Electronics Co. Ltd.
12.4.4. Electrolux AB; Panasonic
12.4.5. Haier Group
12.4.6. BSH Hausgerate
12.4.7. Philips
12.4.8. Miele &am
Methodology
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