Smart Kitchen Appliances Market Projections & Future Opportunities Recorded for the Period until 202
Global smart kitchen appliances market to reach a valuation of US$ 2,730.6 Mn by the end of 2022. The CAGR rate is projected to be 29.1% within the forecast period of 2014 to 2022.
[UKPRwire, Mon Aug 26 2019] Smart kitchen appliances are fine quality products/ kitchen accessories that are typically designed in a way with a view to provide efficiency and comfort in almost every operation taking place in a kitchen. Compared to traditional kitchen appliances, smart kitchen appliances are costly yet more efficient and time saving. There are several benefits associated with smart kitchen appliances, such as waste reduction, efficient cooking operations, enhanced safety, and the user can receive timely alerts as well as gain remote access and achieve cost and energy savings. There are various smart kitchen appliances such as smart refrigerators, smart dishwashers, smart coffee maker, smart cookware and cooktop, smart oven and smart scales and thermometers. The market for smart kitchen appliances is influenced by various factors such as increasing disposable income coupled with rising per capita expenditure on technology and appliances and increasing technological research and development.
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Future Market Insights has captured the pulse of the global market for smart kitchen appliances in its recent research report. The fact based research report on global smart kitchen appliances market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analysed across key regions of Latin America, North America, Europe, Japan, Middle and Africa (MEA) and Asia Pacific excluding Japan (APEJ). 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. According to the analysis done by Future Market Insights, the global smart kitchen appliances market is projected to grow at a high CAGR to reach a valuation higher than US$ 2 Bn by the end of the period of assessment from a value of around US$ 703 in 2017.
Revenue from Smart Dishwashers to Skyrocket in the Coming Years
The global market for smart kitchen appliances includes appliances category which his further segmented into smart refrigerators, smart dishwashers, smart oven, smart coffee maker, smart cookware and cooktop and other appliances. Of these, the smart dishwasher segment is the largest from the market share perspective. In 2017, the smart dishwasher segment reflected a value of more than US$ 140 Mn and is the second largest in terms of revenue generation. But with the increasing use of smart dishwashers, the sales revenue is anticipated to grow higher in the coming years and this segment is expected to lead the global market with a valuation of more than US$ 580 Mn by the end of the assessment year.
Wi-Fi Technology is Widely Used in Smart Kitchen Appliances
In the connectivity technology category, the Wi-Fi segment is expected to grow at a high rate during the forecast period. In 2017, the bluetooth segment dominated the global market with a high market valuation. However, the Wi-Fi technology is expected to catch steam and is projected to grow at a stellar 16.8% value CAGR throughout the period of forecast and reach a higher valuation thus dominating the global market by the end of 2026.
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The research report on global smart kitchen appliances has profiled some of the major players operating in the market. Key companies such as Whirlpool Corporation, LG Electronics, AB Electrolux, Panasonic Corporation, Haier Group, Samsung Electronics Co. Ltd., Koninklijke Philips N.V., General Electric Co., Onida, SectorQube and Dacor have been profiled in this research study.
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