The report of Virtual Kitchen Market by Component (Hardware, Software, Service), Technology (Wi-Fi, 3D, Artificial Intelligence, Others), End-User (Commercial Space, Residential, Hospitality, Others), and Region (North America, Asia Pacific, Europe, South America, and Middle East & Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 43.5 % during the forecast period.
A cloud kitchen or virtual kitchen is the delivery-only food business that performs its operations within the premises of a restaurant. However, it lacks a physical space for the dine-in facility. Virtual Kitchen, a union of technologies like Virtual Reality, Artificial Intelligence & 3-D architectural design software & print, etc. that integrates the whole concept into a picture, giving the user an absolutely a real view. It further makes the whole process so easy, fast & most importantly cost-competitive. This is the key factor that drives the growth of Virtual Kitchen today & increases its market to the global platform.
The virtual kitchen business in India has changed the perspective of Indian food lovers. Many restaurants operating abroad has already set out into this field decade’s back. Technological advancement, coupled with the change in consumers’ eating habits, has accelerated the growth of the delivery-only model. Amid the COVID-19 Pandemic, the cloud kitchen business model is gaining a lot of opportunities in the Indian as well as International market.
Region-wise, it has been observed that the North America region is leading with market share growth in the virtual kitchen market, as it has enormous demand due to the artificial intelligence technologies active in the virtual kitchen. The virtual kitchen market in the European region is estimated to see speedy progress in the upcoming period. While, the Asia Pacific nations such as Japan, China, and India are a developing market for the virtual kitchen market and expected to forecast the highest CAGR in the coming years.
The key players of the global Virtual Kitchen market are Microsoft Corporation (U.S), HTC Corporation (Taiwan), IKEA (Netherlands), Samsung Group (South Korea), LG Electronics Inc. (South Korea), Homer TLC, Inc.(U.S), Clicky Media (U.K), The National Kitchen & Bath Association (U.S), Aetna, Inc. (U.S.), Cawdor Stone Gallery (U.K.), The Saturn Corporation (U.S), Micro-Star International (Taiwan) among others.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Virtual Kitchen Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Virtual Kitchen Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Virtual Kitchen Market positioning of competitors.
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