The smart kitchen appliances market is anticipated to be worth US$ 703 in 2017 and US$ 2 Bn by 2026, growing at a 13.7% CAGR. Compared to conventional kitchen appliances, smart kitchen equipment offer more efficiency, comfort, convenience, and safety. With the help of various hardware and component sensing technologies and advanced networking capabilities, smart kitchen appliances can be connected to smartphones or tablets in order to allow remote access. Among the advantages of smart kitchen equipment are safety, increased productivity, increased comfort, decreased waste, increased energy savings, and efficient power use. The global market for smart kitchen appliances is anticipated to be driven by an increase in per capita spending brought on by higher disposable income and the increasingly tech-savvy population. The research report includes historic data and statistics as well as future value projections of various segments of the global smart kitchen appliances market for a period of nine years, starting from 2017 and ending in 2026.
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Global Market for Smart Kitchen Appliances: Dynamics Influencing Growth
There are various factors that have propelled the use of smart kitchen appliances. Kitchen is one of the most important facility in any house and needs to be kept up to date. The smart technology has been applied in this section with a view to enhance and modify current kitchen scenario. The increasing percentage of working population has made it imperative for manufacturers to develop a technology that can be used to control and monitor home remotely. This concept gave rise to smart kitchen appliances that can be remotely accessed. Additionally, various benefits associated with smart kitchen appliances have surged the demand in the coming years. The increasing disposable income, growing adoption of Internet of Things (IoT), favourable government initiatives and technological advancements to manufacture new smart kitchen products have contributed to the growth of the global smart kitchen appliances market. However, higher pricing is a factor of concern that has challenged the market’s growth.
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Global Market for Smart Kitchen Appliances: Segmental Snapshot
The global smart kitchen appliances market has been segmented on the basis of components, by appliances, by connectivity technology and by region.
- By region, Europe is the most attractive from a growth perspective. This region has shown high growth potential and is marked with increased adoption of smart kitchen appliances. The market for smart kitchen appliances in Europe is estimated to reach a high market valuation as compared to other regions thus leading the global market
- In the components category, the hardware and software segments are expected to reflect high market valuations. By the end of the year of forecast, the valuation of hardware segment is poised to touch US$ 917 Mn. The software segment is projected to grow at the highest rate during the forecast period
- By connectivity technology, the Wi-Fi segment is expected to dominate the global market in terms of market strength followed by the bluetooth segment. This segment is also expected to grow at a higher CAGR throughout the assessment period
- By appliances, smart oven segment is the fastest growing and is expected to reflect a value CAGR of more than 18% throughout the forecast period
Global Market for Smart Kitchen Appliances: Competition Tracking
The research report has profiled key companies such as Dacor, SectorQube, Onida, General Electric Co., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Haier Group, Panasonic Corporation, AB Electrolux, LG Electronics and Whirlpool Corporation.
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Detailed market segmentation
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Components
- Hardware
- Software
- Services
Appliances
- Smart Refrigerator
- Smart Coffee Maker
- Smart Dishwasher
- Smart Cookware & Cooktop
- Smart Oven
- Other Appliances
Connectivity Technology
- Bluetooth
- Wi-Fi Market
- NFC
- Others
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The post Smart Kitchen Appliances Market is to grow at 13.7% During the Forecast Period 2017 to 2026 appeared first on Future Market Insights.
