The global smart kitchen appliances market size was USD 1864.25 million in 2021 and is expected to register a robust revenue CAGR of 34.97% during the forecast period. Key factors such as rapid urbanization, high adoption of smart cities, and rising demand for different types of smart kitchen appliances in residential and commercial applications are expected to drive global market revenue growth during the forecast period.
Smart kitchen appliances are devices that are equipped with Internet of Things (IoT), primarily used in kitchens in the hospitality and residential sectors. Smart kitchen appliances such as refrigerators, ovens, dishwashers, cooktops & cookware are integrated with Bluetooth and WiFi to enable users to operate and control smart appliances remotely through smart devices. Sales of smart kitchen appliances has significantly increased in the past few years owing to rising adoption of smart cities, improving standard of living, and high focus on changing kitchen infrastructure.
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Other factors such as rising consumer awareness about the importance of smart kitchen appliances, growing adoption of smart ovens, refrigerators, smart cooktops & cookware, and dishwashers in homes, hotels, restaurants and cafes, and increasing investments for developing advanced smart kitchen appliances are expected to drive global market revenue growth going ahead.
However, high cost of smart kitchen appliances, rising concerns about data privacy, and low purchasing power to deploy advanced smart kitchen appliances in many developing countries are expected to hamper global market revenue growth during the forecast period.
Smart Refrigerators Segment To Register Robust Revenue CAGR:
The smart refrigerators segment is expected to register robust revenue CAGR over the forecast period. This can be attributed to increasing concerns about food wastage, high preference for fresh and healthy food, growing awareness about benefits of smart refrigerators, and rising availability of smart refrigerators with advanced features such as touchscreen interface, interior camera, WiFi-connectivity, built-in browser, and whiteboard.
Home Segment to Account for Largest Revenue Share:
The home segment is expected to account for largest revenue share between 2022 and 2028 owing to factors such as attributed rapid urbanization, increasing adoption of smart cities and smart kitchens, steadily increasing disposable income, and rising demand for energy-efficient kitchen appliances.
Asia Pacific to Register Rapid Revenue Growth:
Asia Pacific is expected to register rapid revenue growth during the forecast period owing to rapid urbanization, changing lifestyle preferences, high adoption of advanced technologies such as smart kitchen appliances, rising purchasing power, and increasing investments in developing smart kitchen appliances. China, Japan, India, and South Korea are some of the largest revenue-generating countries in the region.
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Smart Kitchen Appliances Market By Company:
Whirlpool CorporationAB ElectroluxSamsung ElectronicsLG ElectronicsHaier GroupBSHMiele and Cie KGPanasonicRobamMidea
Smart Kitchen Appliances Industry Recent Developments:
In February 2021, Panasonic, India announced the launch of new rage of Miraie smart appliances such as connected refrigerators, WiFi-fans to enhance their product base. The new range of Miraie appliances is available across all Panasonic brand shops, retail outlets and online platforms.In April 2022, LG Electronics announced the launch of a smart kitchen refrigerator, InstaView Door-in-Door refrigerators that lets the user control the temperature settings without opening the door, thereby reducing the cold air loss. In addition, the latest LG refrigerators come with smart leaner, powered by artificial intelligence that analyses the usage pattern.
The global smart kitchen appliances market has been segmented based on type, application, and region:
Smart Kitchen Appliances Market Segment by Type:
Smart RefrigeratorSmart CookersSmart Kitchen HoodsOthers
Smart Kitchen Appliances Market Segment by Application:
Commercial UseHome Use
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Smart Kitchen Appliances Market Segment by Region:North America (USA, Canada, Mexico)Europe (Germany, France, UK, Italy, Russia, Rest of Europe)Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam)South America (Brazil, Argentina, Columbia, Rest of South America)Middle East & Africa (Saudi Arabia, U.A.E, Egypt, Nigeria, South Africa, Rest of MEA)
Key Reasons to Purchase:
Estimates 2022 to 2028 smart kitchen appliances market current market trends and development trendsMarket dynamics along with growth opportunities of the market in the years to comeMarket segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspectsRegional and country level analysis integrating the demand and supply forces that are influencing the growth of the smart kitchen appliances marketCompetitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five yearsComprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market playersBrief about impact of COVID-19 on the global smart kitchen appliances market
Key Questions Addressed:
What revenue CAGR is the global market expected to register during the forecast period?Which key players are leading in the global smart kitchen appliances market?What is the expected market size of the global smart kitchen appliances market between 2022 and 2028?What factors are expected to open new growth avenues and opportunities for existing and emerging market players?What are some of the key challenges that the global market is expected to face during the forecast period?Which region is expected to account for largest revenue share over the forecast period?
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