[PDF] Smart Kitchen Appliances Market Is Growing With the Introduction of Technologically Advanced Kitchen Appliances

United States/WA: Smart Kitchen Appliances Market Will Boom In Near Future

Report Pages:[130 Pages]

Global Smart Kitchen Appliances Market, by Type (Smart Coffee Maker, Smart Cooker, Smart Cooktop, Smart Dish Washer, Smart Freezer, Smart Kettle, Smart Oven, Smart Refrigerator), by Technology (Bluetooth, Near Field Communication, Wi-Fi), by End Users (Commercial, Residential) and by Geography (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Trends and Forecast to 2026

Market Overview:

A smart device is one that includes intelligence and communication from a utility or third-party energy service provider to enable automatic or remote control based on user preferences or external signals. Smart kitchen appliances are energy-efficient and can perform tasks faster and cheaper. These appliances can either be portable or semi-portable used to accomplish several kitchen tasks. Smart refrigerator, smart freezer, smart cooker, smart kettle, smart dish washer, smart oven, smart cooktop, and smart coffee maker are some common types of smart kitchen appliances. Smart kitchen appliances use latest technologies, such as Bluetooth, cameras, Wi-Fi, and touchscreens, etc. Moreover, manufacturers are incorporating connected technologies in make their products smart and energy-efficient.

Competitive Landscape:

Major players operating in the global smart kitchen appliances market are Dacor, Qingdao Haier Co Ltd, Electrolux, Whirlpool Corporation, Panasonic Corporation, LG Electronics Inc., General Electric Co. (GE), Koninklijke Philips N.V., and Samsung Electronics Co. Ltd.

Key Market Drivers:

Introduction of technologically advanced kitchen appliances along with the increasing adoption of smart appliances is expected to fuel growth of the smart kitchen appliances market during the forecast period. For instance, in February 2021, Panasonic India expanded its Internet of Things (IoT) and Artificial Intelligence (AI) enabled Connected Living platform, Miraie, which consist of connected Washing Machine, Refrigerator, WiFi Fan, Smart digital Switches, and Smart WiFi Controller plugs and switches.

Moreover, rising availability of wireless connectivity solutions and increase in consumer focus on cost reduction, convenience, and energy conservation is expected to accelerate the growth of the smart kitchen appliances market. For instance, in July 2021, Samsung announced the launch of SmartThings Energy, a new addition to its SmartThings app that allows customers to monitor and control the energy use of their Samsung appliances and HVAC systems.

COVID-19 Impact Analysis:

The outbreak of COVID-19 has affected the smart kitchen appliances market both positively and negatively. The demand for smart kitchen appliances has increased due to the pandemic, as most of the population is working from home. Moreover, as the pandemic keeps more people at home and awareness of the climate crisis grows, people are concerned about their household energy consumption. Smart appliances allow homeowners to take control of their energy usage through a variety of smart-home energy-saving strategies. This in turn is expected to augment the growth of the smart kitchen appliances market.

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Key Takeaways

• The smart kitchen appliances market is expected to exhibit a CAGR of XX % during the forecast period due the rising demand for smartphones and increase in internet penetration across the world. According to the India Brand Equity Foundation (IBEF), with growing internet penetration, internet users in India are expected to increase from 429.23 million as of September 2017 to 829 million by 2021.
• Among regions, North America and Asia Pacific are expected to witness robust growth in the smart kitchen appliances market due to growing trend of technology driven appliances or shifting consumer trend toward technology led products and the increasing number of Internet and smartphone users in these regions.
• For instance, in July 2020, Samsung announced the expansion its IoT product portfolio in India with the launch of connected SpaceMax Family Hub Refrigerator, empowering life in the kitchen.

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