Smart Kitchen Appliances Market: Current Analysis and Forecast (2021-2027)

RISING CONSUMER DISPOSABLE INCOME AND INCREASING TECHNOLOGICAL TRENDS SUCH AS INTERNET OF THINGS (IOT) AND ARTIFICIAL INTELLIGENCE (AI) ENABLED DEVICES ARE SPURRING THE SMART KITCHEN APPLIANCES MARKET GROWTH. INCREASING ADOPTION OF SMART KITCHEN APPLIANCES IN RESIDENTIAL AS WELL AS COMMERCIAL SECTORS ACROSS THE WORLD IS ALSO ONE OF THE PROMINENT FACTORS DRIVING THE MARKET GROWTH. AS PER THE HAMERVILLE MEDIA GROUP, THE PENETRATION OF SMART DISHWASHERS IN U.K. AND GERMANY STOOD AT 43.1% AND 54.9% RESPECTIVELY IN 2018. TOP EUROPEAN KITCHEN APPLIANCE MANUFACTURERS INCLUDES BSH HAUSGERATE GMBH AND MIELE FOCUS ON PRODUCT INNOVATIONS THAT ARE CONVENIENT TO CUSTOMER LIFESTYLE.

AS PER SURVEY CONDUCTED BY SCRIPPS NETWORK INTERACTIVE FINDS THAT RESPONDENTS CONSIDERED TECHNOLOGY IN THE KITCHEN A NICE-TO-HAVE, BECAUSE PAIN POINTS AREN'T STRONG ENOUGH TO DRIVE MAJOR PURCHASES OR CHANGES IN BEHAVIOR. THE SURVEY ALSO STATED THAT, 40% OF RESPONDENTS SAID THEY AREN'T INTERESTED IN CONNECTED APPLIANCES AND EXPRESSED SKEPTICISM OF THE UTILITY OF KITCHEN-RELATED TECH BEYOND THE 'GEE-WHIZ' FACTOR. SMALLER KITCHEN GADGETS FARED A BIT BETTER IN THE SURVEY WITH SMALL KITCHEN APPLIANCES LEADING THE RESPONDENTS' WISH LISTS, FOLLOWED BY AUTOMATIC CLEANING DEVICES AND VOICE-CONTROLLED DEVICES.

BASED ON TYPE, THE MARKET IS FRAGMENTED INTO SMART OVENS, DISHWASHERS, REFRIGERATORS, COOKWARE AND COOKTOPS, KETTLE, AND OTHERS. THE SMART REFRIGERATOR SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020. THE MARKET IS EXPECTED TO GROW AT A CAGR OF XX% DURING THE FORECAST PERIOD TO REACH A MARKET VALUATION OF USD XX MILLION BY 2027F OWING TO THE INCREASING PENETRATION OF SMART HOUSEHOLD, CONSUMERS' INCLINATIONS TOWARDS SMART KITCHEN APPLIANCES, AND RISING DISPOSABLE INCOME ARE DRIVING THE MARKET. IN ADDITION, TO KEEP THE FOOD FREE FROM SPOILAGE IS DRIVING THE DEMAND FOR SMART REFRIGERATOR

BASED ON THE TECHNOLOGY, THE MARKET IS FRAGMENTED INTO WI-FI AND BLUETOOTH. THE WI-FI SEGMENT GRABBED THE MAJOR MARKET AND DOMINATED THE MARKET. THE WI-FI SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020. BASED ON THE DISTRIBUTION CHANNEL, THE MARKET IS FRAGMENTED INTO MULTI-BRAND STORES, EXCLUSIVE STORES, AND ONLINE PLATFORM. THE XX SEGMENT GRABBED THE MAJOR MARKET AND DOMINATED THE MARKET. THE XX SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020. BASED ON THE END-USER, THE MARKET IS FRAGMENTED INTO RESIDENTIAL AND COMMERCIAL. THE RESIDENTIAL SEGMENT GRABBED THE MAJOR MARKET AND DOMINATED THE MARKET. THE RESIDENTIAL SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020

THE SMART KITCHEN APPLIANCES HAS BEEN ANALYZED FOR MAJOR REGIONS INCLUDING NORTH AMERICA (UNITED STATES, CANADA, MEXICO, AND REST OF NORTH AMERICA), EUROPE (UNITED KINGDOM, GERMANY, SPAIN, FRANCE, ITALY, RUSSIA, AND REST OF EUROPE), ASIA-PACIFIC (CHINA, INDIA, JAPAN, AUSTRALIA, AND REST OF ASIA-PACIFIC), REST OF WORLD. NORTH AMERICA DOMINATED THE MARKET GLOBALLY IN SMART KITCHEN APPLIANCES MARKET

SOME OF THE MAJOR PLAYERS OPERATING IN THE MARKET INCLUDE AB ELECTROLUX, SAMSUNG ELECTRONICS CO. LTD, WHIRLPOOL CORPORATION, LG ELECTRONICS INC., BSH HOME APPLIANCES CORPORATION, PANASONIC CORPORATION, HAIER GROUP, BREVILLE GROUP LIMITED, KONINKLIJKE PHILIPS N. V., MIELE & CIE. K. G. SEVERAL M&A'S ALONG WITH PARTNERSHIPS HAVE BEEN UNDERTAKEN BY THESE PLAYERS TO EXPAND THEIR BUSINESS IN DIFFERENT REGIONS