The global smart kitchen market is expected to witness a steady growth rate during the forecast period. Technological developments such as smart sensors which are making the appliances more energy efficient coupled with its improved connectivity with other devices through Wi-Fi has been attracting more users. This increasing number of users are projected to drive the growth of the global smart kitchen market by 2025.
The market report enables the industry participants to understand various characteristics of the smart kitchen market. We have assessed and estimated the market by considering technological developments, regional trends, government initiatives, upcoming investments The report on global smart kitchen market also covers several other qualitative aspects of the market such as the drivers, restraints and key industry trends. Further, the market study provides an in-depth analysis of the strategic framework of the players in the global smart kitchen market.
Promptly increasing population, urbanization, and industrialization has made Kitchen management a challenge. Thus, smart kitchen appliances provide a comprehensive solution to these problems related to kitchen management by combining technology and services. The technological developments which facilitate the integration of kitchen appliances with smart sensors have created a kitchen automation system which is improving the cooking experience along with added safety features such as gas leak and fire detection. These, technological advancements in kitchen appliances are catalyzing the growth of smart kitchen appliances market during the forecast period. This coupled with rising disposable income in the developed economy such as the United States is boosting the demoing which is driving the market growth.
On the basis of product type, the global smart kitchen market has been segmented in the refrigerator, cooking appliances, and others. Smart refrigerators are projected to have the largest market share of more than 35% by 2025 in the global smart kitchen market. This dominance is projected as a shift towards smart fridges is seen as people want to improve and streamline the way they buy and store food. For instance, most smart fridges have an inbuilt super wide-angle camera that helps the user to see what’s available in the fridge right from your smartphone. This is a wonderful tool and can be helpful in efficient grocery buying and storing. For instance, one Samsung model uses the groceries by Mastercard mobile app to help the user easily order and pay for items it may need. Thus smart fridges have surged in demand driving the growth of the smart kitchen market.
On the basis of the end user, the global smart kitchen market is segmented in residential and commercial. Residential end users are projected to account for the largest share by 2025 on account of rising expenditure on smart technologies and the lifestyle changes which is demanding more smart technologies to facilitate easy and convenient kitchen management. The commercial end user is projected to grow with the fastest CAGR during the forecast period. This growth is expected as commercial kitchen operations and restaurant chains are strongly adopting to smart kitchen appliances as these multi-function appliances which are Wi-Fi and internet-enabled also offer mobile integration are making kitchen operations easier and efficient to manage.
By geography, the Asia Pacific market is expected to grow with the fastest CAGR of 12.8% during the forecast period. This growth is expected as the major urban population is expected to adopt smart kitchen appliances as the technological advancements have helped inefficient kitchen and energy management. This coupled with rising disposable income and increasing awareness about smart kitchen appliances and the performance of kitchen appliances are collectively driving the growth of the smart kitchen market in the Asia Pacific. North America is expected to continue its dominance in the global market by 2025 as the integration of smart kitchen appliances with the internet of things is expected to propel the demand for smart kitchen appliances in the region driving the growth of the global smart kitchen market.
Key Segments of the Global Smart Kitchen Market
Product Type Overview, 2015-2025 (USD Million)
- Cooking appliances
End User Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East
- Saudi Arabia
- Rest of MEA