Smart Kitchen Appliances Market Definition
Smart kitchen appliance uses various technologies with traditional appliances that help in easing the cooking process. These appliances are called smart as they have intelligence and can be controlled through remote control or smartphones. The smart kitchen appliances evaluate actions by crunching numbers to help in automating everyday tasks and create more opportunities for efficiencies. These appliances also provide useful notifications to users and help in saving energy thus reduces energy bills. The development of kitchenware with technologies has significantly boosted the market growth.
The market study is broken down by Type (Smart Refrigerator, Smart Coffee Maker, Smart Dishwasher, Smart Cookware & Cooktops, Smart Oven and Other (Smart Deep Freezers, Smart Kettles, Other)), by Application (Residential and Commercial) and major geographies with country level splits. According to AMA, the Global Smart Kitchen Appliances market is expected to see growth rate of 15.61%
The global smart kitchen appliances market is highly competitive and the entry barriers of new comers in the high entry due to presence of large and internationally spread players with high investing capacity. Research Analyst at AMA estimates that United States and European Vendors will contribute to the maximum growth of Global Smart Kitchen Appliances market throughout the predicted period.
Samsung Electronics Co. Ltd. (South Korea), Electrolux AB (Sweden), General Electric Co. (United States), Koninklijke Philips N.V. (Netherlands), BSH Hausgerate GmbH (Germany), LG Electronics Inc. (South Korea), Siemens AG (Germany), Haier Group Corporation (China), Miele & Cie. KG (Germany), Panasonic Corp. (Japan), Qingdao Haier Co. Ltd. (China), Whirlpool Corp. (United States), Breville Group Ltd (Australia), Hestan Cue Inc. (United States), Arçelik AS (Turkey) and Midea Group (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are ROBAM (India), Elica S.p.A (Italy), Vatti (China), Gorenje (Slovenia) and Vanward (China).
AdvanceMarketAnalytics has segmented the market of Global Smart Kitchen Appliances market by Type, Application and Region.
On the basis of geography, the market of Smart Kitchen Appliances has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Wireless Fidelity (WiFi) will boost the Smart Kitchen Appliances market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Offline Retail Stores will boost the Smart Kitchen Appliances market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In February 2019, LG Electronics USA expanded its smart kitchen appliance partnerships with Tovala to expand its smart kitchen product reach. This partnership aimed to provide Tovala IQ technology compatibility through LG smart cooking appliances.
- Trend for Machine to Machine (M2M) Communication
- Increasing Penetration of Internet of Things (IoT) and Artificial Intelligence (AI) Technology
- Increasing Electricity Prices Increases the Adoption of Smart Kitchen Appliances
- Technological Upgradation in Kitchen Appliances
- Changing Lifestyles And Preferences Of Consumer
- Increasing Online Smart Kitchen Appliances Purchases
- Adoption of Smart Kitchen Appliances In Residential
- Lack of Awareness About Smart Kitchen Appliances
- High Cost of Smart Kitchen Appliances
- High Capital Investment and Maintenance Cost
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Smart Kitchen Appliances Manufacturer, Technology Providers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Users
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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