Global Smart Kitchen Appliances Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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Global Smart Kitchen Appliances Market Overview
The smart kitchen appliances market is estimated to register a CAGR of X.X% in terms of value during the forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.
The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
This report has been segmented on the basis of product, application, and region.
Smart kitchen appliances have the capability to perform faster and efficiently, with the help of various technologies. These appliances are energy efficient, comfortable to use, and time-saving, as compared to traditional household appliances.
Smart kitchen appliances offer several benefits such as efficient cooking, waste, and remote access to users through smartphones, tablets, and other devices.
Increasing penetration of IoT (Internet of Things) technology is a key factor driving the growth of the global smart kitchen appliances market.
A rise of women in the workforce, increasing disposable income, strong inclination towards luxury and tech-savvy appliances, and technological up-gradation in kitchen appliances are major factors expected to fuel growth in the global smart kitchen appliances market over the forecast period.
In addition, these appliances are equipped with sensors and can be operated remotely from smartphones, which is expected to support the growth of the smart kitchens appliances market.
However, technological advancements in these appliances lead to an increased price of these items. The maintenance cost of smart kitchen appliances is also considerably high, which may restrain the growth of the global smart kitchen appliance market.
The technology of smart appliances is fairly new, and the population in developing or under-developed countries lack awareness about these appliances, which is expected to further slow down the growth of the market over the forecast period.
Nonetheless, the introduction of mobile applications by key players to control and monitor smart kitchen appliances is expected to provide lucrative opportunities for revenue growth.
The market in North America is expected to dominate the kitchen appliances market in terms of revenue, owing to technological advancements in appliances, changing consumer preferences, coupled with increasing smart grid projects in countries in the region.
The market in Europe accounted for the second-highest revenue share in the global smart kitchen appliances market, followed by markets in Latin America, Asia Pacific, and the Middle East & Africa respectively.
The market in the Asia Pacific is projected to grow at a significant rate, owing to strengthening economies such as China, and India, comprising of a large working population, increasing urbanization, coupled with rising disposable income.
Smart kitchen appliances market segmentation:
Segmentation by product:
- Smart Refrigerator
- Smart Coffee Maker
- Smart Dishwasher
- Smart Cookware & Cooktop
- Smart Oven
- Other Appliances
Segmentation by Application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Whirlpool Corporation,
- LG Electronics,
- Dongbu Daewoo Electronics Corporation,
- AB Electrolux,
- Panasonic Corporation,
- Haier Group,
- Samsung Electronics Co. Ltd.
- Koninklijke Philips N.V.
- Electrolux AB
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