Smart Kitchen Appliance Market - Trends Forecast Till 2028
Smart Kitchen Appliance Market, By Type (Smart Refrigerator, Smart Coffee Maker, Smart Kettle, Smart Dish Washer, Smart Deep Freezer, Smart Oven, Smart Cooktop, Smart Ranges, Smart Cooker), Technology (Wi-Fi, Bluetooth, NFC), End-User (Residential, Commercial), Distribution Channel (Retail, E-Commerce) Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Published Date: May, 2020
Base Year Estimate: 2019
Report ID: D-CG-SKAM-09
Number of Pages: 298
Domain: Consumer Goods & Services
Smart Kitchen Appliance Market – Trends Forecast Till 2028
The global smart kitchen appliance market is anticipated to reach USD 2,824.4 million by 2020 growing at a CAGR of 24.6% during the forecasting period, 2020-2028. Smart kitchen appliances are deployed with different sensors that simplify the usage. Additionally, smart kitchen appliances are manufactured with connectivity features so as to connect other household appliances and also to handheld devices such as tablets, smartphones, and others. These appliances can also be regulated remotely. Factors such as increasing advancement, bent towards preferring eco-friendly measures worldwide are driving the market for smart kitchen appliances.
The global smart kitchen appliance market is segmented into type, technology, end-user, distribution channel, and geography.
The type segment is segmented into smart refrigerator, smart coffee maker, smart kettle, smart dishwasher, smart deep freezer, smart oven, smart cooktop, smart ranges, and smart cooker
On the basis of type, the smart refrigerator segment accounted for the high share of the smart kitchen appliance market during the forecast period 2020-2028
The technology segment is segmented into Wi-Fi, Bluetooth, and NFC
The end-User segment is segmented into Residential and Commercial
The distribution channel segment is segmented into Retail and E-Commerce
Geographically, the global smart kitchen appliance market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions.
North America region is largely dominating and the Asia-Pacific region is anticipated to grow with the highest growth rate during the forecast period 2020-2028.
Key players in the global smart kitchen appliance market are Whirlpool Corporation, LG Electronics Co. Ltd., Samsung Electronics Co. Ltd., AB Electrolux, Panasonic Corporation, Haier Group, Dongbu Daewoo Electronics Corporation, BSH Home Appliances Corporation (Robert Bosch GmbH), Sub-Zero, Inc. among others.
The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:
- In 2019, Sharp, a global consumer electronics brand has announced the launch of its new range of smart home appliances in India. The company is aimed towards strengthening its presence in the home air purification and home appliance segment in the country.
- In 2018, Magnet Kitchens and Samsung launched a new range of smart kitchen appliances namely smart fridge freezer, smart oven, smart hob and hood and among others
- In 2019, Whirlpool launched a new range of premium cooking appliances powered by 6th sense technology
In addition to the market data for the smart kitchen appliance market. Delvens offers client-centric reports and is customized according to the company’s specific demand and requirements.
This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the Smart kitchen appliance market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global smart kitchen appliance market. Through secondary research, the market is classified and segmented as per of industry trend, development, regional market. Product and technology development.
The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the smart kitchen appliance market.
Primary Respondent breakdown is given below:
Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the smart kitchen appliance market. This approach has also been used to derive the market for segmentation and sub-segmentation.
Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Industry/Strategic Consultants