ID: MRFR/CR/2637-CR | June 2017 | Region: Global | 141 pages
North America will continue to dominate the smart kitchen appliances market and is projected to grow at CAGR of 18.08% by 2023. Availability of wide range of smart kitchen appliances has increased the popularity due to convenience usage of smart kitchen appliances among consumers in developed regions. High focus on R & D has led to innovations in the appliances adding value to the final product. The appliances are now used with the help of connected smart phones which makes the consumers cooking experience hustle free. All these factors have a positive impact on the smart kitchen appliances market.
Based on the product-type available in smart kitchen appliances, intelligent pans will witness highest growth rate (18.87%) in North America and (~16.34) in Europe. By 2023, intelligent pans are anticipated to reach a market value of more than USD 200 Million in North America and Europe. Rising applications of intelligent pans for quick cooking of food products and also its integration to the smart phone which gives ‘one click’ cooking experience will support the growth of these appliances.
By 2023, residential application of smart kitchen appliances will dominate the applications and is evaluated to grow at a rate of 18.50% in Europe during the forecast period. Increasing demand for luxury cookware from the consumers’ end has a positive impact on this market.
On the basis of technology, wireless sensor networks will continue to dominate the smart kitchen appliances market holding a major share of more than 30% in both the regions. Fastest growing application of wireless technology will influence the positive growth of this market.
Owning to ‘one-stop shopping experience,’ store-based sale of smart kitchen appliances is found to dominate the market in Europe and North America. In Europe, Store-based sale is estimated to grow at a CAGR of 18.56% whereas, in North America, sale through store-based channels is estimated to grow at a CAGR of 17.88%.
Some of the leading players in the North America & Europe smart kitchen appliances market primarily are: Breville Group Ltd., AB Electrolux, Hamilton Beach Brands, Inc., Robert Bosch GmbH, Whirlpool Corp., Samsung Electronics Co., Ltd., Tovala, Vorwerk Elektrowerke GmbH & Co. KG, Hestan Cue, Inc., Lakeland Limited, Etekcity Corporation
Regional and Country Analysis of Smart Kitchen Appliances market Development and the Demand Forecast till 2023 Market
As per the MRFR analysis, the North America and Europe market for smart kitchen appliances have been witnessing continued demand during the last few years and is projected to reach USD 5906.78 million in North America and USD 5595.05 million in Europe by 2023. North America region is estimated to dominate the smart kitchen appliances market holding the lion’s share of more than 50%. However, Europe will witness the highest growth rate of 18.82% in the global smart kitchen appliances market.
Study Objectives of Smart Kitchen Appliances Market
The reports also cover country-level analysis: