Press release
Smart Kitchen Appliances Market grow with a CAGR of 14.6% | Top Key Players SWOT Analysis | BSH, Miele & Cie KG, Panasonic, Robam, Mide
Report Ocean releases its latest report on the global Smart Kitchen Appliances Market. A combination of information gathered from first-hand sources, qualitative and quantitative assessments of industry analysts, and insights from experts and participants across the value chain is used to calculate the global Smart Kitchen Appliances Market.The global smart kitchen appliances market was worth USD 10.5 Billion in 2020 and is further projected to reach USD 26.6 Billion by 2027, at a CAGR of 14.6% during 2021-2027 (forecast period).
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Growth Drivers
Increased Adoption of Modular Kitchen
The growing popularity of modular kitchens, particularly among urban dwellers, is benefiting the smart kitchen appliance market. Because of rising living standards and increased population spending on household infrastructure, the adoption of modular kitchens is rapidly increasing. Customers prefer smart kitchen appliances that take up little space and add a stylish look to their modular kitchen. As a result, the demand for premium innovative devices is increasing, thereby fueling the growth of the smart kitchen appliances market.
Advancement in the electronics and semiconductor industry
With technological advancements in the electronics and semiconductor industries, there is a growing demand for more energy-efficient and high-performance products. Furthermore, the increasing development of sensing devices for electronic appliances has contributed to the development of sensor-based smart home appliances, which has contributed to the growth of the smart kitchen appliances market. The introduction of technologically advanced kitchen appliances is motivating consumers to upgrade their basic kitchen to a smart kitchen. Companies operating in the global kitchen appliances market provide a wide range of household kitchen appliances to meet the increased demand for such applications among household users.
The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.
The reports on the Global Smart Kitchen Appliances Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Smart Kitchen Appliances Market growth rates.
Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Smart Kitchen Appliances Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.
Impact Analysis of COVID-19
A detailed study of Covid-19 impacts the Smart Kitchen Appliances Market is provided in the report.
The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Smart Kitchen Appliances Market segments.
While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.
Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.
The report extensively examines the fundamental aspects of the Global Smart Kitchen Appliances Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Smart Kitchen Appliances Market provides insight into the factors influencing its growth. This market study breaks down the Smart Kitchen Appliances Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.
Regional Overview
An analysis of the Smart Kitchen Appliances Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Smart Kitchen Appliances Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.
Leading Competitors
The leading prominent competitors in the global Smart Kitchen Appliances Market are:
Whirlpool Corporation, Electrolux, Samsung Electronics, LG Electronics, Haier Group, BSH, Miele & Cie KG, Panasonic, Robam, Midea, AB Electrolux, Glen Dimplex Group, Gourmia Inc., Haier Smart Home Co. Ltd., Koninklijke Philips NV, LG Electronics, Inc., Newell Brands, Inc., Robert Bosch GmbH and other key manufacturers.
Scope of the Report
The global Smart Kitchen Appliances Market segmentation focuses on:
By Product Type
o Smart ovens
o Smart dishwashers
o Smart refrigerators
o Smart cookware
o Cooktops
o Others
· By End-User
o Residential
o Commercial
· By Technology
o Wi-Fi
o NFC
o Bluetooth
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