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Smart Kitchen Appliances Market : Applications and Global Markets

09-12-2017 10:19 PM CET | IT, New Media & Software

Press release from: Transparency Market Research Technology

Smart Kitchen Appliances Market : Applications and Global

Smart kitchen appliances are designed to provide more effectiveness and comfort than their traditional counterparts. High energy efficiency is one of the key advantages of smart kitchen appliances. Technological advancements in kitchen appliances, including high-level sensors is currently one of the major factors driving the demand for various smart kitchen appliances worldwide.

The global smart kitchen appliances market was valued at US$ 476.2 Mn in 2013 and is forecasted to grow at a CAGR of 29.1% from 2014 to 2022, reaching a value of US$ 2,730.6 Mn in 2022.

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Rising demand for luxury goods is recognized as the topmost reason for the tremendous growth of the smart kitchen appliances market globally. Also important for the market’s growth are the operational advantages of these appliances and increases in purchasing power worldwide.

Most global players are stepping up their efforts for the development of connected smart kitchen appliances, which enables users to operate their kitchen appliances using handheld devices such as smartphones and tablets. This is a major factor promoting the strong growth of the kitchen appliances market.

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In terms of product type, the smart refrigerators segment accounted for the largest share of revenue, in the global smart kitchen appliances market in 2013. The demand for smart refrigerators is driven by growing efforts to develop advanced refrigerator models from global players such as LG Electronics, Inc., Samsung Electronics Co. Ltd., and Whirlpool Corporation.

Among different applications of smart kitchen appliances, the global smart kitchen appliances market was dominated by the residential applications segment. In 2013, the residential segment accounted for the largest share, in terms of revenue, of the global smart kitchen appliances market. Rising expenditure on household appliances globally is the prime factor bolstering the segment’s growth.

North America led the smart kitchen appliances market in 2013, holding approximately 39% of the global market revenue, and the region is expected to remain dominant throughout the forecast period from 2014 to 2022. Asia Pacific is predicted to be the fastest-growing region throughout the forecast period owing to the growing presence of greenhouses and agriculture.

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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Albany, NY 12207
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Website: http://www.transparencymarketresearch.com

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