Smart Kitchen Appliances Market – Global Industry Analysis and forecast(2022-2027)

Smart Kitchen Appliances Market is expected to reach US$ 36.96 Bn. by 2027, at a CAGR of 18.6% during the forecast period.

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Smart Kitchen Appliances Market Overview:
Increasing customer disposable income & growing technological trends like Internet of Things (IoT) and Artificial Intelligence (AI) supported devices are spurring the market development. Growing implementation of smart kitchen appliances in residential as well as commercial sectors through the world is also one of the key factors driving the market growth towards the north.

The market is anticipated to grow at a 18.63% CAGR thanks to features like connected security, intelligent sensors, time saving, & convenience. Shifting customer trend toward technology controlled products is pouring the need for electric & energy saving appliances in the kitchen environment. The evolution of smart homes in the U.S. is significantly higher as compared to the rest of the world due to greater penetration of technically equipped advanced products.

Growing importance of kitchen renewal or remodeling in order to build a modular kitchen is important to a fast-paced development for smart kitchen appliances like cookware, cooktops, & dishwashers. The digital support applications in voice-controlled devices like Amazon Echo & Google Home are gaining popularity owing to their ability to control your home. According to a recent study by MMR, around 39 Mn people in America held a smart speaker for a connected home environment in the year 2021. These voice & speaker interface permits the kitchen appliances such as refrigerators & ovens to be controlled & accessed remotely.

In the U.S., the food network has combined with Amazon to bring live & on-demand cooking courses for the Echo show the line of the smart displays. In adding, the rising importance on energy efficiency actions has inclined kitchen appliance manufacturers to liftoff eco-friendly appliances with extraordinary ENERGY STAR ratings for energy efficiency. For example, some of the main players like Samsung & Whirlpool focus more on increasing the ENERGY STAR ratings for kitchen appliances such as refrigerators & ovens in order to rise their product penetration in the marketplace.

The penetration of smart dishwashers in U.K. & Germany raised at 42.87 percent & 53.98 percent respectively in the year 2021. Top European kitchen appliance companies such as BSH Hausgerate GmbH & Miele emphasis on product inventions that are suitable to consumer lifestyle. The other appliances like coffee machines, smart kettles, & thermostats are also going to see a lift in their market share during the forecast period.
Smart Kitchen Appliances Market,Application Segment Overview:
Growing the purchasing power of people in western countries including U.S., France, & Germany, & their interest in radical gourmet cooking is pouring the segment development. The residential application segment led the market & accounted for more than 56.70 percent of the market share in the year 2021 & is expected to grow at a healthy rate during the forecast period. Continually changing residential & commercial procedures, economic electricity convenience, & increasing concerns about energy efficient appliances are drawing customer’s attention toward technology led kitchen appliances.
Smart Kitchen Appliances Market, Innovation in the Kitchen:
Of all the industries followed by The NPD Group, the home industry has been one of only a minority of superstars in recent years, rising at 5.34 percent in the year 2020, as shown by NPD’s Retail Tracking Service. 2021 will be another good year for the home industry, but the development rate will likely begin to slow to the 2.54 to 4.75 % range. To keep the momentum going, the home industry needs to update.
Smart Kitchen Appliances Market, Digital Platforms Create New Opportunities:
The increase of online shopping & DTC channels has given power to brands, retailers, & grocers to rethink traditional range layouts & discovery new ways to appeal to customers through suggestive selling. Innovative digital layouts, such as Safeway’s, assort products based on customer needs rather than what works for the grocery store, & deliver new opportunities to encourage their private labels. As the smart kitchen raises, entire new product categories will be created & existing classes will become smarter through improved connectivity. All of this change will need brands, retailers, & grocers to train customers—an opportunity for suggestive selling to make the customer’s life easier while promoting specific products. Strong digital platforms will be active to these efforts.
Market Share of Companies in the global domestic appliances market in 2021:


The report covers Residential, Commercial type with detailed analysis Global Database Encryption Market industry with the classifications of the market on the Products, Application, & region. Analysis of past market dynamics from 2022 to 2027 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players' contribution in it.

The report has profiled fifteen key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in five regions. The major country’s policies about manufacturing & Covid 19 impact on demand side are covered in the report.
Smart Kitchen Appliances Market, Regional Overview:
North America was major market for smart kitchen appliances in the year 2021 due to the rising trend of technology driven appliances in the marketplace. In 2021, the U.S. was the major market for smart kitchen appliances & held more than half of the market share in North America region. Growing disposable income, changing lifestyles, & investments on renovations & recent designs are the prominent aspects for regional market development.

Asia Pacific is anticipated to be the fastest rising market, seeing a significant growth rate of more than 20.46 percent during the forecast period. The rising adoption of smart refrigerators, smart ovens in the Asia-Pacific mainly in China is the main factor for the development of the market in the region.
Smart Kitchen Appliances Market Scope: Inquire before buying



Global Smart Kitchen Appliances Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 13.28 Bn.


Forecast Period 2022 to 2027 CAGR:
18.6%
Market Size in 2027:
US $ 36.96 Bn.


 Segments Covered:
by Product
• Smart Refrigerators
• Smart Cookware & Cooktops
• Smart Dishwashers
• Smart Ovens
• Other Appliances


by Application
• Residential
• Commercial


by Technology
• Wi-Fi
• Bluetooth


by Fuel Type
• Cooking gas
• Electricity
• Others



Smart Kitchen Appliances Market, By Region
• North America:
o US
o Canada
• Europe
o UK
o Germany
o France
o Spain
o Italy
o Sweden
o CIS countries
o Rest of Europe
• APAC
o China
o India
o South Korea
o Japan
o Australia
o Rest of APAC
o ASEAN
 Indonesia
 Malaysia
 Singapore
 Thailand
 Vietnam
• Middle East & Africa
o GCC Countries
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Rest of Latin America
Smart Kitchen Appliances Market Key Players
•Whirlpool Corporation
• LG Electronics
• AB Electrolux
• Samsung Electronics Co. Ltd
• Haier Group
• Panasonic Corporation
• BSH Hausgerate GmbH
• Koninklijke Phillips N.V.
• Miele & Cie. KG
• Dongbu Daewoo Electronics
• Middleby Corporation
• Welbilt
• Rational AG Inc
• Dover Corporation
• Cambro Manufacturing Co. Inc.

Frequently Asked Questions:

1. Which region has the largest share in Global Smart Kitchen Appliances Market?
Ans: North America region holds the highest share in 2021.

2. What is the growth rate of Global Smart Kitchen Appliances Market?
Ans: The Global Smart Kitchen Appliances Market is growing at a CAGR of 18.6 % during forecasting period 2022-2027.

3. What is scope of the Global Smart Kitchen Appliances market report?
Ans: Global Smart Kitchen Appliances Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Smart Kitchen Appliances market?
Ans: The important key players in the Global Smart Kitchen Appliances Market are – Whirlpool Corporation, LG Electronics, AB Electrolux, Samsung Electronics Co. Ltd, Haier Group, Panasonic Corporation, BSH Hausgerate GmbH, Koninklijke Phillips N.V., Miele & Cie. KG, Dongbu Daewoo Electronics, Middleby Corporation, Welbilt, Rational AG Inc, Dover Corporation, and Cambro Manufacturing Co. Inc.

5. What is the study period of this market?
Ans: The Global Smart Kitchen Appliances Market is studied from 2021 to 2027.