Global Smart Kitchen Appliances Market By Product (Ovens, Dishwashers, Refrigerators, Cookware & Cooktops, Scale & Thermometers, Others), End-User (Residential, Commercial), Distribution Channel (Offline Retail Stores, Commercial Retail Stores), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Smart Kitchen Appliances Market
Global smart kitchen appliances market is expected to register a healthy CAGR of 18.76% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the significant increases in the purchasing power of individuals as well as better efficiency of these devices promoting convenience in the kitchen.
Market Definition: Global Smart Kitchen Appliances Market
Smart kitchen appliances are smart consumer electronic goods that are wirelessly connected to smartphones and other smart devices with the help of either internet/Wi-Fi or Bluetooth. This interconnectivity provides users with the ability to give out commands to these appliances, operational monitoring, and also tracking their performance efficiency. These devices promote greater energy savings, reduce the wastage of resources while also providing better operational performance.
- Benefits associated such as greater energy efficiency and better operational performance of these products is expected to augment growth of the market
- Advancements of operational technologies as well as their development is also expected to augment growth of the market
- Increasing adoption of these devices due to the significant awareness and marketing activities conducted by various manufacturers is also expected to augment growth of the market
- Large costs of these devices as compared to conventional products is expected to restrict the growth of the market
- Significant maintenance and repairing costs, if the products are not functioning properly is also expected to restrain the growth of the market
Segmentation: Global Smart Kitchen Appliances Market
- Cookware & Cooktops
- Scale & Thermometers
- Coffee Makers
By Distribution Channel
- Offline Retail Stores
- Commercial Retail Stores
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In May 2019, BSH Home Appliances Corporation announced that they had made a strategic investment in “Chefling”, a provider of smart kitchen solutions based on AI-platform. This investment will help BSH in providing their existing customers with smart kitchen appliances and needs as per their requirement. The consumer goods will help organise the inventory, suggest recipes, organize the budgets according to taste preferences. This investment will accelerate the rate of development and commercialization of these goods
- In August 2018, Electrolux announced that they had expanded their partnership with Google for the integration of kitchen appliances with connected technologies and smart solutions. These products will be available in the European region and will be integrated with “Google Assistant” helping the consumers give out voice commands and commercialization will begin in early 2019
Global smart kitchen appliances market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart kitchen appliances market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global smart kitchen appliances market are Electrolux; SAMSUNG; Whirlpool; LG Electronics; BSH Home Appliances Corporation; Panasonic Corporation; Haier Inc.; Miele & Cie. KG; Daewoo Electronics; Sub-Zero Group, Inc.; Midea Group; Anova Applied Electronics, Inc.; Hangzhou Robam Electric Co.; Behmor, Inc.; Belkin International, Inc.; Nutribullet.com and June Life Inc. among others.
Research Methodology: Global Smart Kitchen Appliances Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure