Fact.MR, a market research and competitive intelligence provider states that smart kitchen appliances sales reached nearly US$ 10 Bn by the end of 2020. Growing reliance on the Internet of Things and Artificial Intelligence are hugely driving demand for smart kitchen appliances. The market is projected to race ahead at a stupendous rate, surpassing a value of US$ 93 Bn by 2031, with demand for energy-efficient kitchen appliances rising exponentially.
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How are Smart Kitchen Appliances Being Made Possible by Accelerated Digitization?
The world is moving towards digitization at an unprecedented pace. As technology continues to advance, it has revolutionized every aspect of our lives, from the way we communicate to the way we work and even the way we cook. The kitchen is the heart of every home, and with the advent of smart kitchen appliances, it has become more intelligent than ever. The rapid digitization of the kitchen is paving the way for smart kitchen appliances, which are designed to make our lives easier, healthier, and more enjoyable.
Smart kitchen appliances are equipped with advanced technology that allows them to connect to the internet and communicate with other devices. They come with a range of features that make cooking and food preparation effortless. For instance, smart refrigerators can detect when you are running low on groceries and automatically order them for you. Smart ovens, on the other hand, can be controlled remotely through an app, allowing you to cook your favorite meals from anywhere.
The digitization of the kitchen has also led to the development of smart kitchen scales, which are designed to help you measure ingredients accurately. These scales can sync with your smartphone and provide you with real-time nutritional information, making it easier for you to maintain a healthy diet. Smart coffee makers, on the other hand, can be programmed to brew your coffee exactly the way you like it, ensuring a perfect cup every time.
In conclusion, the rapid digitization of the kitchen is paving the way for smart kitchen appliances that are designed to make our lives easier and more enjoyable. These appliances are equipped with advanced technology that allows them to communicate with other devices and provide us with real-time information. From smart refrigerators to smart ovens and kitchen scales, these appliances are revolutionizing the way we cook and eat. As technology continues to advance, we can expect to see more innovative smart kitchen appliances that will transform the way we live our lives.
Competitive Landscape
Key players rely on a blend of organic and inorganic strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks.
- For instance, Electrolux, in collaboration with Google, is expanding its kitchen products by integrating Google assistant that enables users to control kitchen appliances using voice commands.
- Additionally, in 2018, BSH Hausgeräte GmbH acquired nearly 65% of the global food platform Kitchen Stories to become an integrated software, hardware, and service provider.
- In August 2021, Samsung launched Smart Induction in Built in Cooktop with Wi-Fi that helps to cook meals faster and reducing energy and emissions.
Key Companies Profiled:
- Samsung Electronics Co. Ltd.
- Haier Group
- LG Electronics Inc.
- AB Electrolux
- BSH Home Appliances Corporation (Robert Bosch GmbH)
- Panasonic Corporation
- Whirlpool Corporation
Key Segments Covered
- Product
- Smart Refrigerators
- Smart Dishwashers
- Smart Ovens
- Smart Cookware and Cooktops
- Smart Scales and Thermometers
- Application
- Residential Smart Kitchen Appliances
- Commercial Smart Kitchen Appliances
Key Questions Covered in the Smart Kitchen Appliances Market Report
- What is the projected value of the Smart Kitchen Appliances factors Industry in 2022?
- At what rate will the global Smart Kitchen Appliances factors market size grow until 2031?
- Which are the factors hampering the growth of Smart Kitchen Appliances factors?
- Which region is expected to lead in the global Smart Kitchen Appliances factors market By 2031?
- Which are the factors driving the Smart Kitchen Appliances factors Industry during the forecast period?
- What is the expected market value of the Smart Kitchen Appliances factors market during the forecast period?
Regional Analysis For Smart Kitchen Appliances Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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