Smart kitchen appliances deliver higher efficiency, comfort, convenience and increased safety as compared to traditional kitchen appliances. Smart kitchen appliances are equipped various components and hardware with sensing technologies as well as advanced connectivity features with the help of which they can be connected to mobile phones or tablets with a view to enable remote access. Safety, enhanced productivity, increased comfort, reduction in wastage, increased energy saving, and efficient power consumption are few of the benefits of smart kitchen appliances. The increased per capita expenditure owing to higher disposable income of individuals around the globe and tech savvy nature of individuals is expected to drive the global smart kitchen appliances market.
The research report includes historic data and statistics as well as future value projections of various segments of the global smart kitchen appliances market for a period of nine years, starting from 2017 and ending in 2026. According to the analysis done by Future Market Insights, the global smart kitchen appliances market is projected to grow at a high CAGR to reach a valuation higher than US$ 2 Bn by the end of the period of assessment from a value of around US$ 703 in 2017.
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Global Market for Smart Kitchen Appliances: Dynamics Influencing Growth
There are various factors that have propelled the use of smart kitchen appliances. Kitchen is one of the most important facility in any house and needs to be kept up to date. The smart technology has been applied in this section with a view to enhance and modify current kitchen scenario. The increasing percentage of working population has made it imperative for manufacturers to develop a technology that can be used to control and monitor home remotely. This concept gave rise to smart kitchen appliances that can be remotely accessed. Additionally, various benefits associated with smart kitchen appliances have surged the demand in the coming years. The increasing disposable income, growing adoption of Internet of Things (IoT), favourable government initiatives and technological advancements to manufacture new smart kitchen products have contributed to the growth of the global smart kitchen appliances market. However, higher pricing is a factor of concern that has challenged the market’s growth.
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Global Market for Smart Kitchen Appliances: Segmental Snapshot
The global smart kitchen appliances market has been segmented on the basis of components, by appliances, by connectivity technology and by region.
By region, Europe is the most attractive from a growth perspective. This region has shown high growth potential and is marked with increased adoption of smart kitchen appliances. The market for smart kitchen appliances in Europe is estimated to reach a high market valuation as compared to other regions thus leading the global market
In the components category, the hardware and software segments are expected to reflect high market valuations. By the end of the year of forecast, the valuation of hardware segment is poised to touch US$ 917 Mn. The software segment is projected to grow at the highest rate during the forecast period
By connectivity technology, the Wi-Fi segment is expected to dominate the global market in terms of market strength followed by the bluetooth segment. This segment is also expected to grow at a higher CAGR throughout the assessment period
By appliances, smart oven segment is the fastest growing and is expected to reflect a value CAGR of more than 18% throughout the forecast period
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Table Of Content
1. Global Outlook
2. Global Smart Kitchen Appliances Market – Executive Summary
3. Global Smart Kitchen Appliances Market Overview
4. Global Smart Kitchen Appliances Market Analysis and Forecast 2012-2026
6. Latin America Global Smart Kitchen Appliances Market Size and Forecast, 2012-2026
7. Europe Global Smart Kitchen Appliances Market Size and Forecast, 2012-2026
8. Japan Global Smart Kitchen Appliances Market Size and Forecast, 2012-2026
9. APEJ Global Smart Kitchen Appliances Market Size and Forecast, 2012-2026
10. MEA Global Smart Kitchen Appliances Market Size and Forecast, 2012-2026
11. Global Smart Kitchen Appliances Market Company Share, Competition Landscape and Company Profiles
12. Research Methodology
13. Secondary and Primary Sources
14. Assumptions and Acronyms