Smart Kitchen Appliance Market - Trends Forecast Till 2028

Market Overview

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.

Key Findings

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.

Regional Analysis

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.

Competitive Landscape

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.

Recent Developments

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