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Smart Kitchen Appliances Market Sales to Hit $ 438.64 Billion by 2028, Says Emergen Research

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Growing adoption of Artificial Intelligence and rapid technological advancements in kitchen appliances and products are key factors influencing market growth.

Smart Kitchen Appliances Market Size – USD 110.56 Billion in 2020, Market Growth – at a CAGR of 18.7%, Market Trends – Growing demand for smart kitchen appliances and products”
— Emergen Research

VANCOUVER, BC, CANADA, August 15, 2022 /EINPresswire.com/ -- The Smart Kitchen Appliances Market reached a market size of USD 110.56 Billion in 2020 and is expected to register a double-digit CAGR over the forecast period, according to recent analysis by Emergen Research. Smart kitchen appliances market revenue growth is driven significantly by rapid advancements in the fields of AI and IoT. Major advancements in AI technologies and machine learning have resulted in development and launch of a range of smart products that enable consumers to save time and effort in food preparation, tracking contents and products in the kitchen, refrigerators, and others. In addition, smart kitchen appliances come with features such as intelligent sensors, touch screen, intuitive control, and integrated extractor and other time-saving features that serve to encourage a positive purchase decision among consumers.

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Key Players operating in the industry are Whirlpool Corporation, Samsung Electronics, Haier Group, and Panasonic to name a few.

The global smart kitchen appliances market is expected to witness further advancements due to growing demand for home automation in both developed and developing countries. Global kitchen and home appliance manufacturers are collaborating to enhance product offerings and improve user experience with more advanced technologies in products. Rising disposable income, increasing awareness regarding available technologies, and availability of favourable purchase options and schemes on such appliances are some key factors driving market growth.

In addition, reducing energy consumption through use of IoT-enabled devices is a major focus point among manufacturers in the market. Companies have also come up with the concept of green IoT, which plays a significant role in deploying IoT to reduce energy consumption, pollution, and Co2 emissions.

Key Highlights of Report

In February 2017, Whirlpool acquired Yummly, which is one of the largest foods and recipe sites on the Internet to bolster its smart kitchen strategy. The guided cooking feature will enable users of Whirlpool Smart Kitchen to send a recipe directly to Wi-Fi-connected kitchen appliances such as an oven.

In 2018, LG launched ThinQ app on smartphone, which allows users to control their devices with Google Assistant or Amazon Alexa. Similarly, Samsung has introduced its wide range of smart kitchen appliances, including the AI-enhanced refrigerator which provides meal planning and recipe suggestions according to the needs of the user.

Incorporation and use of IoT and Wi-Fi in a growing number of kitchen appliances and devices has changed the overall aspect of cooking. Connected devices, typically worn on the body such as fitness trackers and smart watches, ease manual tasks by notifying users about details of products kept in the refrigerator, for instance, how long the items have been kept in the fridge, expiration date etc.

The residential application segment accounted major market share in 2020 and the trend is expected to continue going ahead.

The smart kitchen appliances market is mostly fragmented, with a large number of companies as well as some medium-sized and start-up companies accounting for a major share of the global market revenue. Some major players in this market are Whirlpool Corporation, Samsung Electronics, Haier Group, and Panasonic to name a few.

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Emergen Research has segmented the smart kitchen appliances market in terms of product, technology, end use, and region:

Product (Revenue, USD Billion; Volume: Thousand Units; 2020–2028)

Smart Refrigerators

Smart Cookware and Cooktops

Smart Dishwashers

Smart Thermostats

Smart Coffeemakers

Other Appliances

Technology Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)

Wi-Fi

Bluetooth

RFID

Others

Sales Channel Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)

Online

Offline

End-user Outlook (Revenue, USD Billion; Volume: Thousand Units; 2021–2028)

Residential

Commercial

Industrial

To know more about the report, visit @ https://www.emergenresearch.com/industry-report/smart-kitchen-appliances-market

Regional Outlook (Revenue: USD Billion; Volume: Thousand Units; 2021–2028)

North America

U.S.

Canada

Europe

Russia

U.K.

Germany

France

Asia Pacific

China

Japan

India

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

Israel

Rest of MEA

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Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis

In-depth 8-year analysis of the Global Smart Kitchen Appliances Market

Critical understanding of the key market segments 

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

About Emergen Research

At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

Eric Lee
Emergen Research
+ +91 90210 91709
sales@emergenresearch.com
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