Global Smart Kitchen Appliances (Smart Refrigerators, Smart Ovens) Market Analysis Report 2021: The market is expected to reach $ 43.83 billion by 2028, at a CAGR of 18.6%
DUBLIN, December 14, 2021– (COMMERCIAL THREAD)–The Smart Kitchen Appliances Market Size, Share and Trend Analysis Report by Product (Smart Refrigerators, Smart Ovens), Application (Residential, Commercial), Region and Segment Forecast, 2021-2028 “ the report was added to ResearchAndMarkets.com offer.
The global smart kitchen appliances market size is expected to reach USD 43.83 billion by 2028 and is expected to increase at a CAGR of 18.6% from 2021 to 2028.
Customers are drawn to the new smart kitchen appliances because they are energy efficient, environmentally friendly and have a user-friendly interface. In addition, as disposable income and purchasing power increase, customers are able to increase their spending on high-end smart kitchen equipment, resulting in increased demand and market growth.
Kitchen appliance makers have recognized the potential of IoT and are investing time and money to build the infrastructure that will allow their products to communicate with each other. This feature is appreciated by consumers who use IoT devices and is expected to drive the market growth throughout the forecast period.
The Internet of Things (IoT) is a growing network of common objects that connects industrial machines with consumer home devices to share data and perform tasks while people are busy with other activities. The inclusion of small amounts of computing power in devices has resulted in significant improvements in lifestyle.
Generation Y and Generation X are the most likely to have smart home technology products in their homes, according to Security.org. People under 44 are more likely to acquire smart kitchen equipment than people over 45.
According to ValuePenguin, 52% of people very concerned about climate change who own a smart home device bought it because it’s better for the environment, compared to 20% of those moderately concerned and 10% of those who don’t. are not.
Additionally, 66% of those who are extremely concerned about climate change plan to purchase another smart home gadget within the next six months.
Only 41% of those surveyed were somewhat concerned, while 20% were not at all concerned, indicating that environmentally conscious people are more likely to be regular buyers of smart home gadgets.
Highlights of the Smart Kitchen Appliances Market Report
By product, the smart refrigerator segment accounted for the largest share of 34.23% in 2020. Smart refrigerators are increasingly common as smart cities and smart infrastructure are more widely adopted. They have become the most popular kitchen appliances. Thanks to advancements in technology, consumers can now see what’s inside their refrigerators with their smartphones
Based on the app, the residential segment dominated the market and clinched a 56.83% revenue share in 2020. As smart devices replace traditional appliances in kitchens, millennials and younger demographics alike are also interested in cooking. In addition, the increase in tourism and travel is increasing consumer interest in different culinary cultures and multi-cuisine foods, prompting them to opt for smart kitchen appliances in their homes.
North America dominated the market and held a 33.33% revenue share in 2020. The growing number of smart grid projects, changing consumer preferences and increasing purchasing power are fueling the regional market growth. Another notable trend in North America is the increase in investment in residential construction projects. The increase in the number of residential and commercial construction projects will lead to an increase in regional demand for smart kitchen appliances
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive summary
Chapter 3. Smart Kitchen Appliances Market Variables, Trends and Scope
Chapter 4. Analysis of consumer behavior
Chapter 5. Smart Kitchen Appliances Market: Product Estimates and Trend Analysis
Chapter 6. Smart Kitchen Appliances Market: Application Estimates and Trend Analysis
Chapter 7. Smart Kitchen Appliances Market: Regional Estimates and Trend Analysis
Chapter 8. Competitive analysis
For more information on this report, visit https://www.researchandmarkets.com/r/eyrnfp
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211214005733/en/
Laura Wood, Senior Press Director
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