With emerging technology and more automation most of the cloud kitchen are being equipped with sensing and interaction services are driving the global smart kitchen market.
The global market for the Smart Kitchen is anticipated to develop at a compound annual growth rate (CAGR) of 18.5% throughout the course of the forecast, to reach $138.22 billion by 2030.
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"The Global Smart Kitchen Market 2020-2030 (USD Billion)")
Covid-19 Impact & Market Status
The global smart kitchen market experienced huge loss due to price changes, increased freight rates, material shortages, lockdown led mobility restrictions, and other macroeconomic factors.
At the same time demand for smart kitchen appliances amidst covid-19 was seen due to enhanced consumer experience, premium products being offered by companies, people were spending more time at home, positive consumer sentiments, and increasing demand for frost-free automatic or fully automatic washing machines. Moreover, in the post-pandemic marketplace, the cleaning appliances of kitchen are seeing whooping growth. Large appliances and products like food processors are also seeing tremendous interest and is likely to well in the current year.
This report has sought to develop a deeper understanding of the Global Smart Kitchen Market economy. The report aims to provide Global Smart Kitchen Market leaders with the facts and insights helpful; to create base for policy decisions. The report provides research of from micro-to-macro economic state of the Global Smart Kitchen Market. This in-depth research covers over 20 leading countries and over 30 segments. The report provides current study about the Global Smart Kitchen Market focusing on key attributes such as productivity and growth of Global Smart Kitchen Market, evaluation of financial state of the Global Smart Kitchen Market, economic impact of covid-19 pandemic on the markets, and other crucial topics. The research report assesses the economic benefits of investing in the Global Smart Kitchen Market for the market players. This report provides market players with a unique combination of strategic recommendations, with deep knowledge on sectors. The report identifies the barriers for productivity and explains ways for overcoming them.
Smart Fridge Product Segment Opening Up Varied Opportunities For Market Players
The global smart kitchen market is classified into smart fridge, smart sous-vide precision cooker, smart microwave oven, smart display, and others on the basis of Product Type. Among these, smart fridge product type segment accounted for highest market share of global smart kitchen market. The key factors such as IT companies resuming operations, renovations of homes in residential sector, hotels, restaurants, and other food service investing in smart home.
Investments In Residential Segment To Continue To Rally In A Market
The global smart kitchen market is classified into residential, commercial on the basis of application. Among these, the residential segment is poised for rapid growth in the smart kitchen market worldwide. The key factors such as, changing living standards, growing interest in smart kitchen appliances, high disposable income, growing trends of renovating with smart appliances is increasing the demand for smart kitchen in residential sector.
North America is Expecting a Robust M&A Market
Among all the regions, North America accounted for highest market share in global smart kitchen market. The key factors such as presence of prominent firms like Whirpool, high disposable incomes, growing interest in using smart kitchen appliances for enhanced consumer experience, emerging technology and automation is boosting the global smart kitchen market.
The need to provide a better quality living to the residents with smart technology is improving the reliance on smart kitchen furthering the global smart kitchen market development.
Owing top benefits such as safety, security, care, comfort, better energy management provided by smart kitchen, the smart kitchen is experiencing rapid adoption as opposed to traditional cooking approaches, thus fostering remarkable progress in global smart kitchen market.
The factors such as emerging technologies & automation, expansion of networked home appliances and residential gateways market, increasing investment in smart kitchen innovation both from research and industry, and growing popularity of connected living is boosting the global smart kitchen market.
The advantages of smart kitchen such as quieter, energy efficient appliances, smaller & intuitive sensors, safety, convenience, seamless connectivity, and failsafe security encourage its further adoption.
These factors collectively influence thumping growth of smart kitchen market estimated to reach close to USD 50.0678 Million by 2029.
The factors such as changing living standards, growing interest in smart kitchen appliances is driving the global smart kitchen market.
Smart kitchen is usually connected via IoT (internet of things), Bluetooth, or WiFi. Smart kitchen is designed to save energy and time. The smart appliances connect to voice assistant or mobile applications and make the things that are to be done much easier. The smart appliances are integrated with artificial intelligence for providing enhanced functionality and more interactive experience.
High disposable incomes, changing lifestyle, rise of digital ordering, and consumers expecting on-demand convenience is propelling the global smart kitchen market.
However, the global smart kitchen market is impeded by several factors. Those factors are, significant smart kitchen investment, lower IT budgets, shifting consumer expectations, difficulties faced in fixing incorrect orders.
Furthermore, innovation in smart kitchen appliances, increased customer demand for energy-efficient appliances, large appliances and television sets attracting more attention, growing interest in smart phone idea, increased spending on renovating kitchen or residential sector is anticipated to be growth opportunity to the global smart kitchen market.
The major players in global smart kitchen market are Haier, Samsung Electronics, Electrolux, LG Electronics, Bosch, Siemens, Miele and Whirlpool among others. These manufacturers having international presence provide several innovative solutions. Interestingly, their smartphone and tablet apps are tailored to their products. These companies are pioneering the tech and driving the global smart kitchen market forward. The companies to provide enhanced customer experience are coming into partnership with various tech platforms. Thus these companies are becoming the name brand in smart kitchen products improving their ranking in the global smart kitchen market.
Latest Innovations in the Global Smart Kitchen Market: a Snapshot
Developing economies such as India are strongly supporting the conventional kitchen transition into a smart one. In 2021, the state of Kerala, India announced a unique scheme, Smart Kitchen Scheme to support women convert their traditional and underequipped kitchens into smart kitchens. Necessary loans would be sanctioned to women. The interest rates will be low and installment facilities will also be provided.
Smart Kitchen Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2023-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | $138.22 billion |
| Growth Rate | CAGR of 18.5 % during 2020-2030 |
| Segment Covered | Type, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Haier, Samsung Electronics, Electrolux, LG Electronics, Bosch, Siemens, Miele and Whirlpool. |
Key Segments of the Global Smart Kitchen Market
Product Type Overview, (USD Million)
- Smart fridge
- Smart Sous-Vide Precision Cooker
- Smart Microwave
- Smart Display
- Others
Application Overview, (USD Million)
- Residential
- Commercial
Regional Overview, (USD Million)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The market value of smart kitchen market in 20230was $138.22 billion .
The base year for the report is 2023 in smart kitchen market.
North America dominated the market for smart kitchen market and accounted for the largest revenue share.
The top companies that hold the market share in smart kitchen market are Haier, Samsung Electronics, Electrolux, LG Electronics, Bosch, Siemens, Miele and Whirlpool.
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