Press release
Smart Kitchens Market Size Projected To Reach 117.5 Billion By 2034 With A Cagr Of 26.2%
Smart Kitchens Market Growth
What Is the Projected Growth of the Smart Kitchens Market?
Over the past few years, there has been a massive expansion in the market size of smart kitchens. It is expected to increase from a worth of $36.59 billion in 2024 to a value of $46.31 billion in 2025, growing at a compound annual growth rate (CAGR) of 26.6%. Factors contributing to this growth in the past comprise of heightened demand for convenience, amplified consumer interest in conserving energy, greater emphasis on health and wellness, an increasing demand for automation, and more focus on sustainability.Expectations are high for the smart kitchens market size to experience a surge in the coming years, with projections estimating it to reach $117.50 billion by 2029, representing a compound annual growth rate (CAGR) of 26.2%. Factors contributing to this predicted growth during the forecast period include an increased demand for automation, the desire for connected appliances, a growing acceptance of smart home ecosystems, higher adoption rates of voice assistants, and a rising need for personalized cooking. Key trends expected to shape this market during the forecast period encompass the development of smart appliances, the integration of connected devices, advancements in appliance design and functionality, the incorporation of artificial intelligence and automation, and the increasing use of voice assistants.
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What Are the Different Smart Kitchens Market Segments?
The smart kitchens market covered in this report is segmented -
1) By Product Type: Smart Refrigerators, Smart Oven, Smart Dishwashers, Smart Cooktops, Other Product Types
2) By Technology: Wireless Fidelity Enabled Appliances, Bluetooth Enabled Appliances, Radio-Frequency Identification Enabled Appliances, Voice-Activated Appliances, Sensor-Based Appliances
3) By End-User: Residential And Home Users, Commercial Users
Subsegments:
1) By Smart Refrigerators: French Door Smart Refrigerators, Side-by-Side Smart Refrigerators, Bottom Freezer Smart Refrigerators, Top Freezer Smart Refrigerators
2) By Smart Oven: Convection Smart Ovens, Microwave Smart Ovens, Steam Smart Ovens, Countertop Smart Ovens
3) By Smart Dishwashers: Built-in Smart Dishwashers, Freestanding Smart Dishwashers, Drawer Smart Dishwashers
4) By Smart Cooktops: Induction Smart Cooktops, Gas Smart Cooktops, Electric Smart Cooktops
5) By Other Product Types: Smart Coffee Makers, Smart Kettles, Smart Toasters
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What Are the Primary Drivers Shaping the Smart Kitchens Market?
The escalating attention towards energy efficiency and sustainability is anticipated to drive the expansion of the smart kitchens market. This attention to energy efficiency and sustainability can be linked to a number of factors such as elevated energy expenses, escalated environmental apprehensions, regulatory stresses, technological innovations, consumer inclination for eco-friendly products, and the imperative to lessen the impact of climate change. Smart kitchens increase energy efficiency and sustainability by rationalizing energy consumption through automatic systems, energy-saving appliances, and intelligent technology that curtails waste and betters resource administration. For example, in 2024, the International Energy Agency (IEA), a France-based global organization, reported that the total net electricity production within the OECD was 882.1 TWh, reflecting a 1.2% annual growth in contrast to 2023. Moreover, the electricity generation for the first three quarters of 2024 rose by 2.5% in comparison with the same period in 2023. Consequently, the escalating attention towards energy efficiency and sustainability is fueling the smart kitchens market.
Which Companies Are Leading in the Smart Kitchens Market?
Major companies operating in the smart kitchens market are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Siemens AG, LG Electronics Inc., General Electric, Panasonic Corporation, Midea Group Co. Ltd., Haier Group Corporation, KitchenAid Inc., Whirlpool Corporation, Koninklijke Philips N.V, BSH Hausgerate GmbH, Electrolux AB, Groupe SEB S.A., Miele And Cie. KG, Beko Elektronik A.S, Butterfly Gandhimathi Appliances Limited, Zerowatt S.p.A, Tovala Inc., Brava Home Inc., Anova Culinary LLC, Cosori Inc., Daewoo Electronics Corporation
What Are the Major Trends Shaping the Smart Kitchens Market?
Leading firms in the smart kitchen market are concentrating on engineering high-tech solutions such as comprehensive connected kitchen platforms that improve convenience, functionality and user engagement. These all-inclusive connected kitchen systems merge diverse smart kitchen gadgets and appliances into one unified network, facilitating inter-device communication for optimal control and automation. For instance, in September 2023, Fresc Technologies Inc., a technology company based in Ireland, introduced KitchenOS, aimed at providing genuine multi-brand device control for advanced kitchen appliances. KitchenOS is a cohesive operating system for smart kitchens, featuring device integration, voice control, AI-aided assistance, energy management and remote control. It provides a spectrum of systems varying from basic ones that connect necessary appliances to more advanced systems that offer full automation and customised cooking experiences.
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What Are the Top Revenue-Generating Geographies in the Smart Kitchens Market?
North America was the largest region in the smart kitchens market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart kitchens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Kitchens Market?
2. What is the CAGR expected in the Smart Kitchens Market?
3. What Are the Key Innovations Transforming the Smart Kitchens Industry?
4. Which Region Is Leading the Smart Kitchens Market?
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