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Increasing Focus On Energy Efficiency And Sustainability Drives Market Growth Due To Rising Demand For Smart Technology And Resource Optimization: Powering Innovation and Expansion in the Smart Kitchens Market by 2025
Smart Kitchens
What Is the Expected CAGR for the Smart Kitchens Market Through 2025?
In recent times, there has been an exceptional growth in the sector of smart kitchens, with the market size escalating from $36.59 billion in 2024 to an anticipated $45.68 billion in 2025, marking a compound annual growth rate (CAGR) of 24.9%. The historical progress can be ascribed to a surge in demand for convenience and an intensifying customer interest in energy conservation. Furthermore, a heightened emphasis on health and wellness, a mounting demand for automation, and an increased focus on sustainability have also stimulated this growth.
What's the Projected Size of the Global Smart Kitchens Market by 2029?
The smart kitchens market is projected to experience significant growth in the upcoming years, expanding to a value of $113.32 billion in 2029, due to a compound annual growth rate (CAGR) of 25.5%. Factors spurring this growth during the forecast years include an increased appetite for automation, a surge in the need for interconnected devices, a rise in the adoption of smart home ecosystems, the rapid embracing of voice assistants, and an escalating demand for personalized cooking solutions. Key trends to watch for during this period involve the proliferation of smart appliances, the integration of networked devices, breakthroughs in appliance design and utility, the incorporation of AI and automation, and the increased use of voice assistant technologies.
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Top Growth Drivers in the Smart Kitchens Industry: What's Accelerating the Market?
The growing emphasis on energy conservation and eco-friendliness is anticipated to boost the advancement of the smart kitchens market. Concerns over rising energy expenses, mounting environmental issues, regulatory obligations, technological progress, consumer preference for eco-friendly products, and efforts to minimize the effects of climate change contribute to the importance of energy efficiency and sustainability. Smart kitchens promote energy conservation and sustainability by utilizing automated systems, energy-saving appliances, and intelligent technologies to minimize waste and improve resource management. For example, the International Energy Agency (IEA), a France-based international group, reported that total net electricity generated within the OECD in 2024 was 882.1 TWh, reflecting a 1.2% annual growth from 2023. Further, during the first three quarters of 2024, electricity generation rose by 2.5% compared to the same period in 2023. As a result, the escalating focus on energy conservation and eco-friendliness is fuelling the growth of the smart kitchens market.
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What Are the Key Trends Driving Smart Kitchens Market Growth?
Leading firms in the smart kitchen market are prioritizing the creation of high-tech solutions like comprehensive connected kitchen platforms to improve ease of use, functionality, and user interaction. A comprehensive connected kitchen platform merges various smart kitchen gadgets and appliances into a singular network, enabling them to interact with one another for streamlined control and automation. For instance, in September 2023, Fresc Technologies Inc., a technology firm based in Ireland, introduced KitchenOS to ensure genuine multi-brand device control for intelligent kitchen appliances. KitchenOS, an all-encompassing operating system for smart kitchens, provides unique features such as device integration, voice control, AI-supported assistance, energy administration, and remote control, with varieties from fundamental systems connecting crucial appliances to high-end platforms offering complete automation and customized cooking experiences.
What Are the Main Segments in the Smart Kitchens Market?
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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Which Top Companies are Driving Growth 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
Which Regions Will Dominate the Smart Kitchens Market Through 2029?
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.
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