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Smart Kitchen Appliance Market to Grow at 14+% CAGR to Reach $40.5 Billion by 2027 Led by GlenDimplex, Gorenje, Gourmia, Hisense, IKEA, Instant Brands

Press release   •   Jun 13, 2019 22:06 IST

Smart kitchen appliance market

The global Smart kitchen appliance market revenue accounted to US$ 12.6 Bn in 2018 and is expected to grow at a CAGR of 14.9% during the forecast period 2019 – 2027, to account to US$ 40.5 Bn by 2027. Whereas, by volume, the global smart kitchen appliance market is expected to grow at a CAGR of 17.3% during the forecast period.

The Smart Kitchen Appliance Market report provides the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and more. The report alongside offer new task SWOT examination, speculation attainability investigation, and venture return investigation.

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The report provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments, and focuses on markets capacities and on the changing structure.

Studies the latest industry trends, market development aspects, market gains, and industry scenario during the forecast period. The report provides the details related to fundamental overview, development status, latest advancements, market dominance and market dynamics.

The List of Companies

AB Electrolux
Breville Group
BSH Home Appliances
GE Appliances
Joules Limited
LG Electronics
Panasonic
Samsung
Vita-Mix
Whirlpool

The rising number of high net worth individuals in these regions are fueling the growth of smart kitchen appliance market. Additionally, the smart kitchen appliance market is heavily captured by numerous well-established and globally renowned manufacturers as well as tier-2 companies and startups, which offer various types of smart kitchen appliances. This factor is also influencing the residential as well as commercial end users to procure smart kitchen appliances, thereby, catalyzing the growth of smart kitchen appliance market.

Several developed countries in North America and Europe has witnessed the growth in adoption of smart kitchen appliances, which is majorly attributed to the significant rise in Internet of Things (IoT). The availability of better internet infrastructure in the regions mentioned above has enabled the end users to procure smart kitchen appliances, thereby, have boosted the growth of smart kitchen appliances market size. Similarly, the Asia Pacific region is also witnessing staggering growth in internet penetration owing to the advancements in internet infrastructure.

The growth trajectory of the smart home industry is consistently rising, and the same is expected to surge exponentially in the years to come. The smart kitchen appliance market is also anticipated to grow in the coming years, with the increasing number of partnerships among the players operating in the ecosystem. The growing alliances would benefit the developers to innovate and design advanced technology appliances and would also facilitate in reducing the upfront cost of the appliance. This factor is foreseen to increase the procurement volume of smart kitchen appliances during the forecast period, thereby, helping the market to foster.

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Product Type Insights

The global smart kitchen appliance market by product type is segmented into smart ovens, smart refrigerators, smart sous vide, smart juicers & blenders, smart cookers & cooking robots, smart cooktops, smart integrated ovens & cooktops, and others. Smart refrigerators by revenue dominates the smart kitchen appliance market heavily, however, smart ovens by volume dominates the market and is expected to continue its dominance throughout the forecast period from 2019 – 2027.

The smart kitchen appliance market revenue by connectivity technology is further segmented into Wi-Fi and Bluetooth technologies. Wi-Fi dominates the smart kitchen appliance market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The growing adoption rate of Wi-Fi enabled smart kitchen appliances among residential and commercial end users, is catalyzing the growth of connectivity technology segment in a smart kitchen appliance market.

The smart kitchen appliance market revenue by end user is segmented into residential and commercial. The smart kitchen appliance market by residential segment led the market in 2018 with the maximum market share and is expected to continue its dominance during the forecast period. Due to traditional heating kitchen appliances, the homeowners look ahead for technological advanced and aesthetic, smart kitchen appliances. In addition to adoption of smart kitchen appliances, homeowners with high net worth possess high usage of these connected and smart kitchen appliances to ease their regular activities of kitchen.

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– Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Smart Kitchen Appliance Market
– Highlights key business priorities in order to assist companies to realign their business strategies.
– The key findings and recommendations highlight crucial progressive industry trends in the global Smart Kitchen Appliance Market, thereby allowing players across the value chain to develop effective long-term strategies.

– Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
– Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
– Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.

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