The term “smart city” came into existence in the late 20th century. This is reflected in the adoption by major companies for communication technologies built for urban areas. IoT systems are the core components of smart cities and have witnessed a significant increase in their deployment. In the last five years, the adoption rate of smart cities has seen a massive boost, as governments have taken significant steps and invested well in transforming communities into smart cities. The high rate of smart home adoption by countries and high investments for further developments are making way for smart home appliances. More and more smart homes are being constructed, and consumers are becoming more informed about the advantages provided by smart kitchen appliances.
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The commercial sector, comprising of eateries, high-end restaurants, and cafes, is gradually catching up in the adoption of small smart kitchen appliances, especially smart coffee machines. Global smart kitchen appliances manufacturers are partnering with commercial establishments to increase their footprint and the popularity of smart kitchen appliances. The offline distribution channel, comprising retail stores and high-end experience centers that introduce potential customers to smart kitchen appliances, is expected to record the highest growth in revenue generation in the coming years.
The integration or connectivity of smart kitchen appliances with Wi-Fi is currently the most common platform, and this trend is expected to maintain dominance in the market during the forecast period. The ability to connect kitchen appliances with smart home appliances, such as voice-enabled products, requires Bluetooth integration, which many global smart kitchen appliance manufacturers are now implementing.
Internet accessibility became the standard for many applications in the 2000s, and it is now important to have access to technology as part of any business, manufacturing, and consumer product. The core of the connected devices in the kitchen appliances segment is the IoT feature, which gives the consumer the ability to monitor the device via a mobile application. Kitchen technology advancements are changing the way food is cooked and stored.
The invention of smart devices has made it easier to navigate homes and continues to improve lives by saving time and energy. Additionally, smart kitchen appliances, such as smart refrigerators, microwave ovens, sinks, and other appliances, are capable of tracking the energy they use and reduce waste. Investing in smart appliances can mean saving for years on a monthly basis. Some appliances have the feature of warning the user about the problematic situations that can occur in the kitchen. For example, the appliances can warn the user if the gas burner is left on or the products stored in the refrigerator are close to their expiry dates. The need to improve cooking experience and energy efficiency have therefore become crucial due to the continuous increase in demand for innovative devices, primarily from residential and commercial consumers.
The use of smart kitchen appliances is expected to revolutionize the cooking industry, right from energy consumption to cooking experience lowering the cost due to the installation of intelligent technologies.
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Key Questions Answered:
• What is the expected global smart kitchen appliances market size in terms of value during the period 2018-2024?
• What are few emerging technologies anticipated to impact the smart kitchen appliances industry?
• What is the most popular product category out of all smart appliances such as smart refrigerators, smart dishwashers, smart coffee machines, smart ovens and microwaves, smart cooktops and ranges, among others?
• Which sector accounts for a major share of installation of smart kitchen appliances?
• Which sales channel is expected to outperform in the forecasted period and offer opportunity to retain profitability in the industry?
• Which geographical region is currently the largest market in the global smart kitchen appliances market?
• What are the opportunities associated with smart kitchen appliances in different geographies such as North America, South America, the U.K., Europe, Middle East Africa, China, and Asia-Pacific Japan?
• What is the competitive strength of the key players in the smart kitchen appliances market based on the analysis of their recent developments, product offerings, and regional presence?
• What are the emerging trends in global smart kitchen appliances market?
• What are the latest and upcoming innovations in smart kitchen appliances industry?
• What are the major factors impacting the adoption of smart kitchen appliances?
• What are the market dynamics of the global smart kitchen appliances market including market drivers, restraints, and opportunities?
• What are the opportunities offered by the market to new entrants?
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