Press release
Smart Kitchen Appliances Market Trends 2024: Market Growth, Innovation, and Consumer Demand
Smart Kitchen Appliances Market Trends
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=6548&type=smp
According to The Business Research Company's, The smart kitchen appliances market size has grown rapidly in recent years. It will grow from $21.44 billion in 2023 to $25.54 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to changing lifestyle, growth in population, increase in popularity of home renovations, growth in emerging markets, rise in construction sector.
The smart kitchen appliances market size is expected to see rapid growth in the next few years. It will grow to $49.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to rising smart home integration, increasing urbanization, growing disposable income, rise in demand for energy efficiency. Major trends in the forecast period include voice-controlled appliances, augmented reality (ar) cooking guidance, health and nutrition monitoring, compact and multi-functional appliances, touchless and hygienic features.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/smart-kitchen-appliances-global-market-report
Market Drivers and Trends:
The increased demand for advanced and intelligent cooking appliances is significantly contributing to the growth of the smart kitchen appliances market. The outbreak of the COVID-19 pandemic and subsequent lockdowns along with increased access to smartphones and wireless services has aided in the growth in demand for smart kitchen appliances. For instance, according to research by security.org, 32% of US households have access to smart home technology and it is expected to grow to 57% by 2025. Estimates also show that 80 million US households or 64% of the participants intend to purchase a new type of smart home device within the next year. Therefore, the increased demand for advanced and intelligent cooking appliances will contribute to the growth of the human smart kitchen appliances market.
Technological advancement is a key trend gaining popularity in the smart kitchen appliances market. Key players operating in the smart kitchen appliances market are focusing on developing innovative kitchen appliances with advanced technological solutions such as machine learning to enhance their existing product portfolio and strengthen their position in the market. For instance, Bosch, a German multinational engineering and technology company, launched Bosch Series 8 accent line sensor oven, a smart Artificial Intelligence-powered oven. With the use of a machine learning system, a neural network helps recognize certain sequences from the data and makes intelligent predictions, including the time required for the baking or cooking process.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Whirlpool Corporation, LG Electronics Inc., Electrolux AB, Samsung Electronics Co. Ltd., Haier Group Corporation, Panasonic Corporation, Breville Group Limited, Miele & Cie. KG, Koninklijke Philips N.V., BSH Hausgeräte GmbH, General Electric Appliances Company, Siemens AG, Sharp Corporation, Toshiba Corporation, Hitachi Ltd., Groupe SEB SA, De'Longhi S.p.A., Kenwood Limited, Morphy Richards Limited, TefalCo., Smarter Applications Ltd., Drop Servicing, June Life Inc., Tovala Inc., Bartesian LLC, MEATER Inc., Plumis Inc., Lumitics Pte. Ltd., CapSen Robotics Inc., Fitly Inc.
Smart Kitchen Appliances Market 2024 Key Insights:
• The smart kitchen appliances market size is expected to see rapid growth in the next few years. It will grow to $49.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%.
• Rising Demand For Advanced And Intelligent Cooking Appliances Drives The Smart Kitchen Appliances Market
• Technological Advancements And Innovation Drive Growth In The Smart Kitchen Appliances Market
• North America was the largest region in the smart kitchen appliances market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=6548&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Kitchen Appliances Market Trends 2024: Market Growth, Innovation, and Consumer Demand here
News-ID: 3735964 • Views: …
More Releases from The Business Research Company
Market Trend Insights: The Impact of Emerging Developments on the Insurance Busi …
The insurance business process outsourcing industry is gaining significant traction as companies seek more efficient ways to manage insurance operations. With evolving technologies and a growing number of insurers, this market is set for considerable expansion in the coming years. Let's explore the current market valuation, key players, emerging trends, and segmentation details shaping this sector.
Projected Growth and Market Size of the Insurance Business Process Outsourcing Market
The insurance…
Trends in Growth, Segment Analysis, and Competitive Approaches Influencing the M …
The marine insurance sector is set to undergo significant expansion in the coming years, driven by technological advancements and evolving global risks. This market is adapting to new challenges and opportunities, reflecting shifts in maritime operations and increasing demands for specialized coverage. Here is an in-depth look at the marine insurance market's size, key players, emerging trends, and the main segments fueling its growth.
Projected Expansion and Market Size of Marine…
Analysis of Key Market Segments Driving the Syndicated Loans Market
The syndicated loans market is poised for substantial expansion in the coming years, driven by a combination of financial trends, investor preferences, and global economic factors. This report explores the projected market size, leading players, notable trends, and segmentation to provide a comprehensive overview of this evolving sector.
Expected Market Size and Growth Trajectory of the Syndicated Loans Market
The syndicated loans market is anticipated to experience rapid growth, reaching…
Market Trend Analysis: The Impact of Emerging Developments on the Remittance Mar …
The digital remittance sector is set for remarkable expansion in the coming years, driven by technological innovations and evolving financial regulations. As cross-border money transfers become more seamless and secure, the industry is positioning itself for impressive growth. Let's explore the projected market size, key players, prevailing trends, and detailed market segments shaping this fast-evolving domain.
Forecasted Market Size and Growth of the Digital Remittance Market
The digital remittance market…
More Releases for Appliances
Smart Appliances Market
Smart Appliances Market - 2025-2033 Opportunities & Trends: The global smart appliances market is experiencing strong momentum driven by rising connected home adoption, integration of IoT, and demand for energy-efficient devices. In 2024, over 1.2 billion connected appliances were in use globally, with smart refrigerators, washing machines, and air conditioners leading adoption. The shift toward digital lifestyles, expanding 5G networks, and AI-powered home ecosystems are fueling product innovations that enhance…
Smart Appliances Market
Smart Appliances Market - 2025-2033 Opportunities & Trends: The global smart appliances market is experiencing strong momentum driven by rising connected home adoption, integration of IoT, and demand for energy-efficient devices. In 2024, over 1.2 billion connected appliances were in use globally, with smart refrigerators, washing machines, and air conditioners leading adoption. The shift toward digital lifestyles, expanding 5G networks, and AI-powered home ecosystems are fueling product innovations that enhance…
South Africa Home Appliances Market registering a CAGR of 4.40%, Size, Share, Tr …
Home appliances play a crucial role in regular housekeeping tasks such as washing laundry, cooking, and food preservation, among others. These appliances are known to be equipped with special connections such as gas, plumbing, electrical, and ventilation arrangements.
South Africa Home Appliances Market was valued at USD 12,544,630.64 thousands in 2021 and is expected to reach USD 17703611.39 thousands by 2029, registering a CAGR of 4.40% during the forecast period of…
AI-enabled Kitchen Appliances Market | Electrolux, GE Appliances, GREE, Haier
The global ai-enabled kitchen appliances market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the ai-enabled kitchen appliances market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth…
Global Household Appliances Market | Global Household Appliances Industry | Glob …
Household appliances are devices & equipments that have been produced to augment the comfort levels of consumers and also provide comfort in household activities for instance cooking, storage, entertainment, cleaning, washing. Based on their functions & capabilities they are either fixed or mobile. They are categorized into three sub-categories: small household appliances, major household appliances or white goods, and consumer electronics. Small household appliances include semi-portable & portable machines that…
Cooking Hood Market Strong Growth| Asko Appliances, BSH Home Appliances, Beko, I …
Global Cooking Hood Market has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Cooking Hood market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Report specifies the complete estimate of Global Cooking Hood market business terms, in addition…
