Global Smart Kitchen Appliances Market Size to Reach USD 870.79 Billion by 2032 | Emergen Research
Growing adoption of Artificial Intelligence and rapid technological advancements in kitchen appliances and products are key factors influencing Smart Kitchen Appliances Market growth
Vancouver, Nov. 02, 2023 (GLOBE NEWSWIRE) — The smart kitchen appliances market reached a market size of USD 110.56 Billion in 2020 and is expected to register a double-digit CAGR over the forecast period, according to recent analysis by Emergen Research. Smart kitchen appliances market revenue growth is driven significantly by rapid advancements in the fields of AI and IoT. Major advancements in AI technologies and machine learning have resulted in development and launch of a range of smart products that enable consumers to save time and effort in food preparation, tracking contents and products in the kitchen, refrigerators, and others. In addition, smart kitchen appliances come with features such as intelligent sensors, touch screen, intuitive control, and integrated extractor and other time-saving features that serve to encourage a positive purchase decision among consumers.
The global smart kitchen appliances market is expected to witness further advancements due to growing demand for home automation in both developed and developing countries. Global kitchen and home appliance manufacturers are collaborating to enhance product offerings and improve user experience with more advanced technologies in products. Rising disposable income, increasing awareness regarding available technologies, and availability of favourable purchase options and schemes on such appliances are some key factors driving market growth.
In addition, reducing energy consumption through use of IoT-enabled devices is a major focus point among manufacturers in the market. Companies have also come up with the concept of green IoT, which plays a significant role in deploying IoT to reduce energy consumption, pollution, and Co2 emissions.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/522
Scope of Research
|Market size in 2020||USD 110.56 Billion|
|CAGR (2023 – 2032)||18.7%|
|Revenue forecast in 2032||USD 870.79 Billion|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD Billion, volume in thousand units; and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product and technology, end use, and regions|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; Middle East & Africa|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey|
|Key companies profiled||Whirlpool Corporation, LG Electronics, Samsung Electronic Co. LTD., Panasonic Corporation, AB Electrolux, BSH Hausgerate GmbH, Haier Group, Robert Bosch Gmbh, Koninklijke Philips N.V., and Miele & Cie|
|Customization scope||10 hours of free customization and expert consultation|
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/522
MAJOR COMPANIES and Competitive Landscape
The smart kitchen appliances market is highly fragmented, with a large number of major companies as well as medium-sized and start-up companies accounting for majority revenue share. Rising competition is resulting in various companies focusing on driving sales and expanding product portfolio through various research and development initiatives to strengthen their position globally. Entry barriers include need for high capital investment and presence of major and established players in the market. Some key players in the smart kitchen appliances market are:
- Whirlpool Corporation
- LG Electronics
- Samsung Electronics Co. LTD.
- Panasonic Corporation
- AB Electrolux
- BSH Hausgerate GmbH
- Haier Group
- Robert Bosch Gmbh
- Miele & cie
- Koninklijke Philips N.V.
In February 2017, Electrolux acquired the fast-growing smart kitchen appliance company Anova, which was a U.S-based provider of the popular Anova precision cooker. Electrolux also expanded its collaboration with Google Assistant, enabling consumers to control the appliances using voice command.
In January 2018, BSH Hausgerate GmbH acquired approximately 64.57% of the global food platform, Kitchen Stories. With their strategic investment in digital services, BSH is on the verge to becoming an integrated provider of software and hardware services.
In 2018, LG introduced ThinQ app on smartphones, which allows customers to control their devices with Google Assistant or Amazon Alexa. Similarly, Samsung has also introduced a wide range of smart kitchen appliances and an AI enhanced refrigerator, which provides meal planning and recipe suggestions according to needs of the user.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/522
Key Highlights of Report
- In February 2017, Whirlpool acquired Yummly, which is one of the largest foods and recipe sites on the Internet to bolster its smart kitchen strategy. The guided cooking feature will enable users of Whirlpool Smart Kitchen to send a recipe directly to Wi-Fi-connected kitchen appliances such as an oven.
- Incorporation and use of IoT and Wi-Fi in a growing number of kitchen appliances and devices has changed the overall aspect of cooking. Connected devices, typically worn on the body such as fitness trackers and smart watches, ease manual tasks by notifying users about details of products kept in the refrigerator, for instance, how long the items have been kept in the fridge, expiration date etc.
- The residential application segment accounted major market share in 2020 and the trend is expected to continue going ahead.
- The smart kitchen appliances market is mostly fragmented, with a large number of companies as well as some medium-sized and start-up companies accounting for a major share of the global market revenue. Some major players in this market are Whirlpool Corporation, Samsung Electronics, Haier Group, and Panasonic to name a few.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/smart-kitchen-appliances-market
Emergen Research has segmented the smart kitchen appliances market in terms of product, technology, end use, and region:
- Product (Revenue, USD Billion; Volume: Thousand Units; 2019–2032)
- Smart Refrigerators
- Smart Cookware and Cooktops
- Smart Dishwashers
- Smart Thermostats
- Smart Coffeemakers
- Other Appliances
- Technology Outlook (Revenue, USD Billion; Volume: Thousand Units; 2019–2032)
- Sales Channel Outlook (Revenue, USD Billion; Volume: Thousand Units; 2019–2032)
- End-user Outlook (Revenue, USD Billion; Volume: Thousand Units; 2019–2032)
- Regional Outlook (Revenue: USD Billion; Volume: Thousand Units; 2019–2032)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
Curated Reports You Shouldn’t Miss: Dive In Now!
Gaming Monitor Market, By Panel Type (In-Plane Switching (IPS)), By Screen Size (Less Than 27 Inches, 27-32 Inches), By Price Range (Economy, Premium), By End-Use (Residential), By Distribution Channel (Online), and By Region Forecast to 2032
E Skin Market Size, Share, Trends, By Product (Electronic skinsuit and Electronic patches), By Component (Stretchable circuits, Photovoltaics system, and Others), By Sensor Type, By Application, and By Region Forecast to 2030
Sound Bar Market Size, Share, Trends, By Product Type (Active Sound Bar, Passive Sound Bar), By Connectivity (Wired, Wireless), By Installation Type (Table-top, Wall-mounted), By Application, and By Region Forecast to 2028
Smart Product Vending Machines Market, By Machine Type (Free-Standing, Wall-Mounted), By Product (Beverage, Food, Tobacco, Gold, Animal Products, Medicine, others), By Technology, By Installation Sites, and By Region Forecast to 2028
Synthetic Aperture Radar Market Size, Share, Trends, By Component (Receiver, Transmitter), By Platform (Airborne, Ground), By Frequency Band (X Band, L Band), By Application (Defense, Commercial) By Mode (Multi Mode), and By Region Forecast to 2028
Brain Computer Interface Market, By Component Type (Hardware, Software), By Product Type, By Application (Healthcare, Smart Home Control, Communication & Control, Entertainment & Gaming), By End-Use, and By Region Forecast to 2030
Industrial Magnetron Market, By Product Type (Pulsed, Continuous Wave), By Cooling Type (Air Cooled, Water Cooled), By Operating Frequency (C Band, L Band, S Band, X Band, Ku & Ka Band), By Application, and By Region Forecast to 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: [email protected]
Explore Our Japanese Version: Smart Kitchen Appliances Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-smart-kitchen-appliances-market
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.