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Smart Kitchen Appliances Market - Growth, Trends And Forecasts (2020 - 2025)

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  • 110 Pages
  • August 2020
  • Region: Global
  • Mordor Intelligence
  • ID: 5176106
With pacing technological advancements, the kitchen concept has gone through very radical change, with a major focus on increasing efficiency around the kitchen and reducing the time spent in cleaning and cooking. The industry has been gaining prominence on account of devices enhanced with smart sensors and the Internet of things (IoT) enabled technology. IoT devices are also expected to drive market growth, over the forecast period.

Customers of the global market have started to link technological advancement as an indication of prosperity and are spending a disproportionate amount on beautifying their homes. This has led to the growth of the smart kitchen appliances market worldwide. Smart technology is a key feature for every new appliance, from dishwashers to refrigerators offering customized functionalities for all kinds of needs and preferences of the user. The trends towards smaller single households and integrated kitchen designs support the development of smart kitchens. In addition to the convenience and easy handling, smart devices also serve sustainability purposes. For example, connected household appliances can not only store shopping lists, but with one view on the smartphone, it is possible to check what is still in the refrigerator and what needs to be purchased.

Key Market Trends

Designing Of Internet Of Things (iot) Network System For Kitchen

The potential of IoT has not been unnoticed by kitchen appliances manufacturers, and they are investing time and money in developing infrastructures for their products to communicate over. This factor is highly appreciated by the consumers actively using IoT devices, which is expected to drive the market growth, over the forecast period. Internet of Things is a growing network of everyday objects, connecting industrial machines to consumer home appliances that can share information and complete tasks, while people are engaged in other routine activities. Embedding a small amount of processing power into appliances has created significant lifestyle benefits. Networked objects are serving users better, and are helping modify users’ behavior in positive ways, by reminding the users of schedules, deadlines, or other household needs.

United States is a Growing Market In North America

The home appliance industry, through its products and innovation, is becoming essential to consumers, due to changes in lifestyle, health, safety, and convenience. It is also contributing significantly to the US job market and the nation’s economic security. The factors promoting the growth of the market are the high technological acceptance in the country and the purchasing power of the consumer. Even the government is promoting the adoption of energy efficient appliances. Connected home devices include smart appliances (dishwashers, dryers, refrigerators, etc.), safety and security systems, and energy equipment like smart thermostats and smart lighting. Furthermore, although built-in connectivity is a niche feature in large cooking appliances in the United States, a rise in smart assistant speakers is indicated. For example, recently, Whirlpool integrated technological innovations in a selection of kitchen appliances, calling it the Smart Home Line.

Competitive Landscape

The most active companies in the market include key players, such as Samsung Electronics Co. Ltd, Whirlpool Corporation, LG Electronics, and AB Electrolux. Key players in the global smart kitchen appliances market are focussing on the online distribution channels, for their online marketing and branding of their products to attract more customers. Some of the other prominent players in the market are Sub-Zero, Breville Group Limited, Hestan Cue Inc., Miele & Cie KG, and Panasonic Corporation.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Porters Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Technological Advancements in the Market
4.7 Consumer Behavior Analysis
4.8 Impact of COVID-19 on the Market
5.1 Product Type
5.1.1 Smart Ovens
5.1.2 Smart Dishwashers
5.1.3 Smart Refrigerators
5.1.4 Smart Cookware and Cooktops
5.1.5 Smart Scale and Thermometers
5.1.6 Other Product Types
5.2 Distribution Channel
5.2.1 Multi-brand Stores?
5.2.2 Exclusive Stores
5.2.3 Online?
5.2.4 Other Distribution Channels
5.3 End User
5.3.1 Residential
5.3.2 Commercial
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 South America
5.4.5 Middle East and Africa
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 AB Electrolux
6.2.2 Samsung Electronics Co. Ltd
6.2.3 Whirlpool Corporation
6.2.4 LG Electronics Inc.
6.2.5 BSH Home Appliances Corporation
6.2.6 Panasonic Corporation
6.2.7 Haier Group
6.2.8 Breville Group Limited
6.2.9 Miele
6.2.10 Philips

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • AB Electrolux
  • Samsung Electronics Co. Ltd
  • Whirlpool Corporation
  • LG Electronics Inc.
  • BSH Home Appliances Corporation
  • Panasonic Corporation
  • Haier Group
  • Breville Group Limited
  • Miele
  • Philips