Smart Kitchen Appliances Market Size, Share, Growth Analysis, By Product(Smart Washer, Smart A.C, Smart Dryer, Smart Refrigerator), By Application(Residential, Commercial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25I2027 | Region: Global | Published Date: April, 2024
Pages: 234 | Tables: 65 | Figures: 75

Smart Kitchen Appliances Market Regional Insights

North America is expected to control the smart kitchen appliances market share. This is attributed to the growth in smart grid initiatives, shifting consumer preferences, and rising purchasing power. The increase in government incentives for using energy-efficient technology is one of the key factors driving the market. Regional demand for smart kitchen appliances will increase as a result of the expansion of residential and commercial construction projects in this area.

The smart appliance market is anticipated to grow at the highest CAGR in APAC. Major smart appliance producers with a constant focus on technological advancements can be found in the APAC, including Samsung Electronics (South Korea), Panasonic (Japan), Haier Smart Home (China), and LG Electronics (South Korea). Additionally, the markets for smart appliances in China, Japan, South Korea, and India have the potential to grow rapidly.

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Global Smart Kitchen Appliances Market size was valued at USD 13.18 billion in 2022 and is poised to grow from USD 15.67 billion in 2023 to USD 60.19 billion by 2031, growing at a CAGR of 18.4% in the forecast period (2024-2031).

Global smart kitchen appliances market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Whirlpool Corporation', 'LG Electronics', 'Samsung Electronics', 'Panasonic Corporation', 'Haier Group Corporation', 'General Electric Company', 'AB Electrolux', 'Koninklijke Philips N.V.', 'Siemens AG', 'BSH Hausgeräte GmbH', 'Midea Group Co., Ltd.', 'Robert Bosch GmbH', 'Toshiba Corporation', 'Hitachi, Ltd.', 'Arcelik A.S.', 'Sharp Corporation', 'Vestel Elektronik Sanayi ve Ticaret AS', 'Smarter Applications Ltd.', 'June Life, Inc.', 'Hestan Commercial Corporation.'

To increase customer satisfaction, the hospitality sector is investing in robotic and connected technologies across various geographies. Today's leading smart hotel technologies include voice-activated rooms, robotic luggage storage, digital concierge, and smart TVs. With the purchase of smart kitchen appliances, numerous hotel managements are demonstrating a respectable interest in converting their kitchens into smart kitchens. The development of the smart kitchen appliance market is currently facilitated by the integration of cloud-based technologies and smartphones that allow hotel and restaurant owners to remotely control and monitor their commercial kitchen appliances.

Smart technologies, such as smart appliances, have increased as a result of the Internet of Things' (IoT) quick development. Cooking tasks have been eliminated thanks to the adoption of smart kitchen appliances. These "smart" appliances have a specific level of processing power, one or more actuators, sensor technologies, Wi-Fi or Bluetooth connectivity, artificial intelligence (AI), and a sophisticated user interface. Market expansion has been aided by the possibility of IoT to meet client needs while boosting functionality and engaging experiences.

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Smart Kitchen Appliances Market Size, Share, Growth Analysis, By Product(Smart Washer, Smart A.C, Smart Dryer, Smart Refrigerator), By Application(Residential, Commercial), By Region - Industry Forecast 2024-2031

Smart Kitchen Appliances Market Regional Insights

Smart Kitchen Appliances Market Report Snapshots

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