The Smart Kitchen Appliances Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Kitchen Appliances Global Market Report 2024, The smart kitchen appliances market size has grown rapidly in recent years. It will grow from $21.44 billion in 2023 to $25.54 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to changing lifestyle, growth in population, increase in popularity of home renovations, growth in emerging markets, rise in construction sector.
The smart kitchen appliances market size is expected to see rapid growth in the next few years. It will grow to $49.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to rising smart home integration, increasing urbanization, growing disposable income, rise in demand for energy efficiency. Major trends in the forecast period include voice-controlled appliances, augmented reality (ar) cooking guidance, health and nutrition monitoring, compact and multi-functional appliances, touchless and hygienic features.
The increased demand for advanced and intelligent cooking appliances is significantly contributing to the growth of the smart kitchen appliances market. The outbreak of the COVID-19 pandemic and subsequent lockdowns along with increased access to smartphones and wireless services has aided in the growth in demand for smart kitchen appliances. For instance, according to research by security.org, 32% of US households have access to smart home technology and it is expected to grow to 57% by 2025. Estimates also show that 80 million US households or 64% of the participants intend to purchase a new type of smart home device within the next year. Therefore, the increased demand for advanced and intelligent cooking appliances will contribute to the growth of the human smart kitchen appliances market.
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The smart kitchen appliances market covered in this report is segmented –
1) By Product: Smart Refrigerators, Smart Cookware and Cooktops, Smart Dishwashers, Smart Ovens, Other Appliances
2) By Sales Channel: Indirect Sales Channel, Direct Sales Channel
3) By Application: Residential, Commercial
Technological advancement is a key trend gaining popularity in the smart kitchen appliances market. Key players operating in the smart kitchen appliances market are focusing on developing innovative kitchen appliances with advanced technological solutions such as machine learning to enhance their existing product portfolio and strengthen their position in the market. For instance, Bosch, a German multinational engineering and technology company, launched Bosch Series 8 accent line sensor oven, a smart Artificial Intelligence-powered oven. With the use of a machine learning system, a neural network helps recognize certain sequences from the data and makes intelligent predictions, including the time required for the baking or cooking process.
The smart kitchen appliances market report table of contents includes:
1. Executive Summary
2. Smart Kitchen Appliances Market Characteristics
3. Smart Kitchen Appliances Market Trends And Strategies
4. Smart Kitchen Appliances Market – Macro Economic Scenario
5. Global Smart Kitchen Appliances Market Size and Growth
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26. South America Smart Kitchen Appliances Market
27. Brazil Smart Kitchen Appliances Market
28. Middle East Smart Kitchen Appliances Market
29. Africa Smart Kitchen Appliances Market
30. Smart Kitchen Appliances Market Competitive Landscape And Company Profiles
Top Major Players:
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