The global smart kitchen appliances market is estimated to exhibit a strong CAGR of around 14% during the forecast period. The advancement in technology has proven beneficial for the kitchen and its associated appliances. The technology used in smart kitchen appliances can perform several functions faster than conventional appliances and are primarily energy-efficient as compared to conventional devices, thus are increasingly adopted by consumers.
Smart kitchen appliances are also equipped with sensors, which facilitate the ease of operation for the users. Additionally, the increase in the working population and focusing on time-saving and ease of operation are other factors increasing the demand for smart kitchen appliances. Besides that, the rising trend of Internet of Things (IoT) technology is also one of the key growth enablers bolstering the demand for smart kitchen appliances across the globe.
Smart refrigerators & dishwashers pushing the market growth of smart kitchen appliances
Smart refrigerators are becoming more common as smart cities and smart infrastructure become more extensively adopted. The IoT market has grown significantly over the years, with smart home appliances and devices such as Google Nest, Ring, Alexa, and smart refrigerators, making homes more intelligent. With continuous R&D in the kitchen appliances industry, several user-friendly devices have been developed. Smart dishwashers, blenders, microwaves, and refrigerators, are a few examples of smart kitchen appliances.
Similarly, smart dishwashers provide upgraded standard dishwasher functionality, such as incorporating a Wi-Fi network, and convenience in choices, such as voice control from a cell phone or virtual home assistant controls. The beneficial properties, including efficient cooking operations, enhanced safety, and waste reduction are expected to support the growth of smart kitchen appliances globally.
North America and Europe are the market leaders owing to higher per capita income
Europe and North America have a large working populations and significantly higher disposable income. The busy and hectic schedule of individuals and more per capita income are the significant factors surging the demand for convenience products such as smart kitchen appliances. The need for smart kitchen appliances is quite prominent in these regions. One of the major factors driving the growth of the market includes the rise in government incentives to use energy-efficient gadgets. The increase in the number of residential and commercial construction projects in these regions coupled with the increasing government initiatives for the smart home will result in a rise in regional demand for smart kitchen appliances.
However, in Latin America and the Asia Pacific, the surging penetration of kitchen automation and smart broadband devices is propelling the demand. In the MEA, the ongoing trend of digitalization and automation technology and increasing awareness regarding the benefits of smart kitchen appliances are the key factors that positively impact the smart kitchen appliances market.
Market Structure and Competition Landscape
The manufacturers associated with smart kitchen appliances incorporate various technologies different from conventional ones. The business strategies that the manufacturers are using include marketing initiatives, R&D, and advancements in technologies. The players associated with the smart kitchen appliances market are Samsung Electronics Co. Ltd., Panasonic Corporation, LG Electronics, Huawei Technologies Co., Whirlpool Corporation, Dacor, General Electric Co., Haier Group, Koninklijke Philips N.V., and others. The main focus of these manufacturers is to introduce user-friendly and innovative smart kitchen appliances that make easier life for users, for instance,
- In April 2022, LG Electronics announced the launch of product lines, including Door-in-Door Refrigerators, VIRAAT ACs, AI Direct Drive Washing Machines, and the new Charcoal Microwave range UF + UV Water Purifiers.
- In March 2021, Philips N.V. (India) launched a silent Mixer Grinder with high performance; the product is an innovative smart kitchen appliance with soft sound technology.
- In August 2021, Samsung Electronics Co. Ltd. introduced Wi-Fi-based smart Induction to cook food faster and reduce emissions and energy.
Key Market Segmentation
RationalStat has segmented the global smart kitchen appliances market based on type, application, sales channel, and region.
- By Type
- Smart Refrigerators
- Smart Microwaves
- Smart Dishwashers
- Smart Cookware and Cooktops
- Others (Smart Scale, Thermometers, etc.)
- By Application
- By Sales Channel
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, RefinitivEikon, ICIS, EUWID, Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for kitchen appliance manufacturers, the consumer electronic industry, government organizations, market educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumptpatternstern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.