Smart kitchen appliances offer increased efficiency, comfort, convenience and safety over traditional kitchen appliances. Smart kitchen appliances are equipped with various components and hardware with sensing technologies as well as
connectivity features with the help of which they can be connected to mobile phones or tablets to allow remote access. Safety, increased productivity, increased comfort, reduced waste, increased energy savings and efficient energy consumption are just a few of the benefits of smart kitchen appliances. The increase in per capita spending due to the higher disposable income of individuals around the world and the tech-savvy nature of the individuals is expected to drive the global smart kitchen appliances market.
The global smart kitchen appliances market is expected to grow at a lightning-fast CAGR throughout the forecast period and is expected to reach a market valuation of over $ 2,200 million by the end of the forecast year (2026) .
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Global Smart Kitchen Appliances Market: Dynamics Influencing Growth
There are various factors that have propelled the use of smart kitchen appliances. The kitchen is one of the most important facilities in any home and should be kept up to date. Smart technology has been applied in this section to improve and change the current kitchen scenario. The growing percentage of the workforce has made it imperative for manufacturers to develop technology that can be used to control and monitor the home remotely. This concept gave birth to smart kitchen appliances that can be accessed remotely. In addition, various benefits associated with smart kitchen appliances have driven up demand in the years to come. Rising disposable income, growing adoption of Internet of Things (IoT), supportive government initiatives, and advancements in technology to manufacture new smart kitchen products have contributed to the growth of the global smart kitchen appliances market. . However, the rise in prices is a factor of concern that has challenged the growth of the market.
Global Smart Kitchen Appliances Market: Segment Overview
The global smart kitchen appliances market has been segmented on the basis of components, appliances, connectivity technology, and region.
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- By region, Europe is the most attractive from the point of view of growth. This region has shown high growth potential and is marked by increased adoption of smart kitchen appliances. The smart kitchen appliances market in Europe is expected to achieve high market valuation compared to other regions, thus dominating the global market
- In the component category, the hardware and software segments are expected to reflect high market valuations. By the end of the forecast year, the valuation of the hardware segment is expected to reach US $ 917 million. Software segment is expected 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 evaluation period.
- By devices, the smart oven segment is the fastest growing segment and is expected to reflect a CAGR value of over 18% throughout the forecast period
Global Smart Kitchen Appliances Market: Competition Tracker
The research report featured key companies such as Dacor, SectorQube, Onida, General Electric Co., Koninklijke Philips NV, Samsung Electronics Co. Ltd., Haier Group, Panasonic Corporation, AB Electrolux, LG Electronics and Whirlpool Corporation.
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Detailed market segmentation
- North America
- Latin America
- Smart refrigerator
- Smart coffee maker
- Smart dishwasher
- Smart cookware and hob
- Smart oven
- Other devices
- Wi-Fi Market
1. Global outlook
2. Global Smart Kitchen Appliances Market – Executive Summary
3. Global Smart Kitchen Appliance Market Overview
4. Global Smart Kitchen Appliances Market Analysis and Forecast 2012-2026
5. North America Smart Kitchen Appliance Market Size and Forecast, 2012-2026
6. Latin America Smart Kitchen Appliance Market Size and Forecast, 2012-2026