Smart Kitchen Appliances Market - By Product Type , By Application , By Connectivity, By Distribution Channel & Global Region - Market Size, Trends, Share & Forecast 2021-2026
Smart kitchen appliances typically are premium kitchen appliances and accessories which offer enhanced efficiency and capabilities. These innovative smart appliances are equipped with advanced technologies and various sensing systems that aid in the formation of intelligent kitchen system by providing comfort and convenience in various operations of the kitchen. They require minimal space, perform functions faster and cheaper, are eco-friendly, exhibit a user-friendly interface, and are energy-efficient relative to traditional household or kitchen appliances.
Some of the features and benefits offered by smart kitchen appliances include; active monitoring of their own failure and active control adjustment, self-cleaning or waste sorting, monitoring and measuring of cooking by the use of various equipments, monitoring of food ingredients for allergens with connected fitness technology which enable users to monitor and synchronise food consumption with fitness routines and automatic shut-off of appliances such as ovens as per requirement preventing any risk of fire. They also allow remote access to users through smartphones, tablets, and other devices by making use of Wi-Fi or bluetooth connectivity.
The global smart kitchen appliances market is expected to expand at a CAGR of around 12.5% over the next 5 years.
MARKET DRIVERS:
The growth of this market is attributed towards major pertaining factors including; the proliferating adoption of various smart kitchen appliances in both residential and commercial sectors across the world, the burgeoning trend of smart homes across different regions, the growing importance of kitchen renovation or remodeling in order to build modular kitchens, the increasing trends towards smaller smart connected home appliances and integrated kitchen designs, the rising consumer demand and need for energy-efficient appliances with user-friendly interfaces and the substantially increasing number of government initiatives for implementing energy-efficient devices across the globe etc.
Additionally, the topmost players in the smart kitchen appliances market are seen to be investing huge amount of funds on research and development activities for innovating products that add convenience to the lives of their customers and which have customized functionalities for all kinds of needs and preferences of the user. They are focusing on the advent of technologically advanced products which increase efficiency around the kitchen and aid in reducing the time spent in cleaning and cooking. Few recent introductions have been in the form of Samsung’s latest edition of the family hub refrigerator which has AI enhanced features and which aids in providing meal planning and recipe suggestions tailored to each member of the family, LG’s Smart ThinQ Cooker which enables consumers to cook with precision and comes with thousands of pre-set time frames and temperatures, The HAPIfork which monitors and tracks eating habits and buzzes and flashes to remind you to eat your food in small mouthfuls and slowly. These along with various other novel developments gather immense demand and aid in bringing tremendous growth opportunities to the smart kitchen appliances market efficiently.
Moreover, with the growing number of energy efficiency measures across the world, the manufactures in smart kitchen appliances have been allocating their efforts in launching appliances which are eco-friendly in nature. For instance, major companies like Samsung and Whirlpool are emphasizing on increasing the ENERGY STAR ratings for different kitchen appliances including refrigerators and ovens. These initiatives by the market vendors attract a huge pool of customers which thereby fuels the growth of the market comprehensively.
Furthermore, other factors such as the exuberating smart city funding across different regions, the growing number of working women, the shifting consumer trend toward technology led products, the growing smart grids technology which aids in enabling two-way communication, the growing demand for premium tech-savvy appliances and the increasing purchasing power of people making them capable enough to spend on premium smart kitchen appliances further boost the growth of the smart kitchen appliances market.
However, factors such as the lack of awareness about smart kitchen appliances in the developing and under-developed countries, the high initial and maintenance costs associated with these appliances over traditional kitchen appliances may hinder the growth of this market.
SMART KITCHEN APPLIANCES MARKET SEGMENTATION:
By Product:
- Smart Refrigerators
- Smart Cookware & Cooktops
- Smart Dishwashers
- Smart Juicers & Blenders
- Smart Sous Vide
- Smart Coffee Maker
- Smart Ovens
- Other Appliances
By Application:
- Residential
- Commercial
By Connectivity Technology:
- Bluetooth
- Near Field Communication
- Wi-Fi
By Distribution Channel:
- Offline Retail Stores
- Commercial Retail Stores
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
REGIONAL INSIGHT:
The North American region accounted for the largest share in the smart kitchen appliances market in the recent years and is further expected to continue dominating in the following years as well. The primary factors responsible for the growth of the market in the region include; the surging trend of adopting smart and innovative technology driven appliances in the region, the increasing availability of wide range of smart kitchen appliances in the region, the growing number of technological advancements in electrical appliances in the region, the increasing presence of well-established market players launching innovative products and designs in the region, the rising number of government initiatives promoting the adoption of energy efficient appliances in the region and the proliferating number of smart grid power projects in the region etc. The U.S. and Canada are the major contributors to the market in the region.
The European region is the second largest regional market for smart kitchen appliances which is expected to witness tremendous growth in the forthcoming years on account of factors such as the massively augmenting number of high net worth individuals in the region, the increasing presence of numerous well-established and globally renowned manufacturers in the region, the increasing consumer’s inclination towards the adoption of advanced technologies in the region, the surging demand for luxury cookware from the consumers and the soaring application of wireless technology in the region etc. The Germany, France, U.K and Italy are among the major contributors in the region.
The Asia Pacific region is the fastest growing regional market for smart kitchen appliances with estimates of its growth rate expanding at a thriving rate in the upcoming years. The growth in the region could be well attributed to factors such as the colossally augmenting adoption of different smart kitchen appliances in the region, the increasing investments in smart grid projects in the region and the growing number of smart kitchen appliances manufacturing units in the region etc. Moreover, the improving standards of living of people, the growing urbanization, the existence of large working population and the bolstering disposable incomes of people add to the growth of the market in the region. The major contributors in the region include India, China, Japan and South Korea.
FEW KEY PLAYERS IN SMART KITCHEN APPLIANCES MARKET:
- BSH Home Appliances Group
- Robert Bosch GmbH
- Whirlpool Corporation
- AB Electrolux
- Samsung Electronics Co. Ltd.
- Panasonic Corporation
- Koninklijke Phillips N.V.
- Breville Group Limited
- LG Electronics Inc.
- Vita-Mix Corporation
- Glen Dimplex Group
- Gourmia Inc.
- Haier Smart Home Co. Ltd.
- Newell Brands Inc.
- General Electric Co.
- Qingdao
- Dacor
- Miele & Cie KG
- Robam
- Midea
- Other Players
RECENT DEVELOPMENTS:
- In April 2021, BSH Home Appliances Corp. North America partnered up with a Dania Beach-based wine-appliance maker Plum to create new, state-of-the-art next generation kitchen appliances according to the announcement made by both the companies.
In April 2021, Kitchen appliance specialists Aukeyhome announced the launch of a revolutionary new smart air fryer with grill that lets users cook their favorite delicious foods crispy and healthy. The CrispX air fryer helps anyone create delicious cuisine in just a few minutes.
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- Publication date: 29th May 2019
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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