Market Insights:
With the electronics and semiconductor industry advancement, the home appliances sector is rapidly moving towards more energy-efficient and high-performance products. Similarly, growing development into sensing devices for electronic appliances has further led to the emergence of various sensor-based intelligent home appliances. These are among the most important factors responsible for the smart appliances market growth. Due to the increasing penetration of internet connectivity worldwide, manufacturers are now more focused on incorporating these features into home appliances. Additionally, due to the rising discretionary income of people worldwide, consumers now prefer adopting high-performance appliances, thereby driving the overall market growth.
Smart kitchen appliances refer to advanced and luxurious kitchen appliances designed for better efficiency and capability than traditional appliances. These appliances are equipped with features such as internet connectivity, remote control, and other sensing systems enabling easy operation along with energy savings. Due to rising technological advancement coupled with people’s discretionary income, the demand for smart kitchen appliances is expected to soar substantially in the coming years. Additionally, smart appliances are highly important in the smart grid infrastructure for they enable two-way communication. Thus, the market for smart kitchen appliances is expected to expand exponentially in the coming years. The only major concern for the market is the high cost of these smart appliances over traditional kitchen appliances.
The report titled “Global Smart Kitchen Appliances Market- Growth, Share, Opportunities and Competitive Analysis, 2015 – 2022” offers strategic insights into the global smart kitchen appliances industry along with the market size and estimates for 2013 to 2022. The said research study covers an in-depth analysis of multiple market segments based on product types, applications, and cross-sectional studies across different geographies. The study covers the comparative analysis of different segments for 2014 & 2022. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.
To help the strategic decision makers, the report also includes profiles of the leading smart kitchen appliances solutions vendors, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, and key developments. The major players profiled in the report are Whirlpool Corporation, AB Electrolux, Samsung Electronics Co., Ltd., Haier Group, LG Electronics, Inc., Panasonic Corporation, BSH Home Appliances Corporation (Robert Bosch GmbH), Dongbu Daewoo Electronics Corporation, Miele and Cie KG and Sub-Zero, Inc. Further, the report also covers market positioning of the key players operating in the smart kitchen appliances market.
Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the smart kitchen appliances industry
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Trailing 2-Year market size data (2013 – 2014)
- SRC (Segment-Region-Country) Analysis
Overall, the research study provides:
- A holistic view of the global smart kitchen appliances market.
- Offering market size and estimates for the period from 2015 to 2022.
- Keeping in mind the factors mentioned above.
Product Segmentation Analysis
Based on products, the smart kitchen appliances market is categorized into the following segments:
- Smart Refrigerators
- Smart Dishwashers
- Smart Ovens
- Others (Kettles, Smart Cooktops, Scales, etc.)
The global smart kitchen appliances market is dominated by the smart refrigerators segment. The segment contributed over one-third of the total worldwide revenue as of 2014. Refrigerators are among the most integral appliances of households. As a result, the demand for refrigerators remains firm across the globe.
Due to the steady demand for refrigerators worldwide, manufacturers have focused more on developing high-tech and energy-efficient refrigerators. Consequently, the smart refrigerators segment will retain its dominant position in the global market throughout the forecast period. Major companies such as Samsung Electronics Co., Ltd., LG Electronics, Inc., and Whirlpool Corporation, among others, emphasize developing next-generation refrigerators to gain a competitive edge in the market.
The smart dishwashers segment is expected to register the highest growth in the global market during the forecast period. This is attributed to the ongoing advancements, especially from the companies such as Whirlpool Corporation and AB Electrolux, in the segment, making them easier to operate with higher energy efficiency. Furthermore, the smart ovens segment too is estimated to register strong growth in the global market. The others segment is predicted to witness moderate growth in the coming years.
The global market for smart kitchen appliances is dominated by the North American region. As of 2014, the region contributed to more than one-third of the total market revenue generated worldwide. The U.S. is the largest market for smart kitchen appliances in the region, accounting for more than 3/4th of the total regional revenue. Due to the high discretionary income of the consumers coupled with the presence significant number of players, the market here is expected to witness strong growth throughout the forecast period. Thus, the region is estimated to retain its dominant position in the market throughout the forecast period.
The Asia Pacific is expected to emerge as the highest growing market for smart kitchen appliances in the coming years. The growth here is majorly supported by China, Australia, Japan, and South Korea. These countries have a huge consumer base, and hence the region holds large room for market growth. Further, Europe is expected to witness strong market growth during the forecast period. The market growth is mainly expected from Western European countries.
