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.
Smart kitchen appliances are equipped with unique features such as intelligent sensors, intuitive control, touch screen, and integrated extractor as well as other time-saving features that have increased their popularity among consumers. Further advancements in home automation is further projected to boost the sale of smart kitchen appliances across the globe. Major manufacturers of kitchen and home appliances are partnering to diversify product offerings and offer enhanced user experience with advanced products. Increasing expendable income, rising awareness regarding technologies, and availability of affordable purchase options are some key factors contributing to market growth.
The report offers a holistic coverage of the smart kitchen appliances market, laying emphasis on the key factors influencing the industrial growth, technological developments taking place in the, smart kitchen appliances market and current and emerging trends witnessed in the leading regional markets.
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Key Highlights of Report
- Incorporation and deployment of IoT and Wi-Fi in a wide range of kitchen appliances and devices has brought a revolution in food preparation and cooking. Connected devices, such as fitness trackers and smart watches, make manual tasks easier by sending notifications about contents and products kept in the refrigerator to the user.
- The residential application segment account for largest revenue share in the global market in 2020 and revenue is expected to expand significantly over the forecast period. Segment growth can be attributed to increasing expendable income, rapid urbanization, and rapid technological development in home appliances and products.
- North America accounted for largest revenue share in the global market in 2020 and the growth can be attributed to rapid technological advancements and increasing investment by key manufacturers of smart kitchen appliances to offer a diversified product portfolio to customers.
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The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Smart Kitchen Appliances market.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the Smart Kitchen Appliances industry are:
Whirlpool Corporation, Samsung Electronics, Haier Group, and Panasonic to name a few.
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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; 2020–2028)
- Smart Refrigerators
- Smart Cookware and Cooktops
- Smart Dishwashers
- Smart Thermostats
- Smart Coffeemakers
- Other Appliances
- Technology Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)
- Wi-Fi
- Bluetooth
- RFID
- Others
- Sales Channel Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)
- Online
- Offline
- End-user Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)
- Residential
- Commercial
- Industrial
The Global Smart Kitchen Appliances Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Smart Kitchen Appliances market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Smart Kitchen Appliances Market added by Emergen Research demonstrates that the global Smart Kitchen Appliances market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Smart Kitchen Appliances market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the Smart Kitchen Appliances Market Report:
- The report encompasses Smart Kitchen Appliances market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Smart Kitchen Appliances industry
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