Press release
Smart Kitchen Appliances Market is to grow at 13.7% During the Forecast Period 2017 to 2026
Smart Kitchen Appliances Market
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Global Market for Smart Kitchen Appliances: Dynamics Influencing Growth
The adoption of smart kitchen appliances has increased for a number of reasons. The kitchen should always be maintained up to date because it is one of the most crucial rooms in any home. This section makes use of smart technologies to improve and change the way that the kitchen is currently set up. Manufacturers must provide a system that enables remote control and home monitoring due to the growing proportion of the population that is employed. This idea led to the development of smart, remote-accessible kitchen appliances. The demand for smart kitchen appliances has also increased in the approaching years due to a number of advantages. The increasing disposable income, growing adoption of Internet of Things (IoT), favourable government initiatives and technological advancements to manufacture new smart kitchen products have contributed to the growth of the global smart kitchen appliances market. However, higher pricing is a factor of concern that has challenged the market's growth.
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Global Market for Smart Kitchen Appliances: Segmental Snapshot
The global smart kitchen appliances market has been segmented on the basis of components, by appliances, by connectivity technology and by region.
By region, Europe is the most attractive from a growth perspective. This region has shown high growth potential and is marked with increased adoption of smart kitchen appliances. The market for smart kitchen appliances in Europe is estimated to reach a high market valuation as compared to other regions thus leading the global market
In the components category, the hardware and software segments are expected to reflect high market valuations. By the end of the year of forecast, the valuation of hardware segment is poised to touch US$ 917 Mn. The software segment is projected to grow at the highest rate during the forecast period
By connectivity technology, the Wi-Fi segment is expected to dominate the global market in terms of market strength followed by the bluetooth segment. This segment is also expected to grow at a higher CAGR throughout the assessment period
By appliances, smart oven segment is the fastest growing and is expected to reflect a value CAGR of more than 18% throughout the forecast period
Global Market for Smart Kitchen Appliances: Competition Tracking
Key firms included in the study report include General Electric Co., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Haier Group, Panasonic Corporation, AB Electrolux, LG Electronics, Whirlpool Corporation, and Dacor, SectorQube, Onida.
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Detailed market segmentation
Region
North America
Latin America
Europe
Japan
APEJ
MEA
Components
Hardware
Software
Services
Appliances
Smart Refrigerator
Smart Coffee Maker
Smart Dishwasher
Smart Cookware & Cooktop
Smart Oven
Other Appliances
Connectivity Technology
Bluetooth
Wi-Fi Market
NFC
Others
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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