The smart kitchen appliances market is estimated to be USD 1,450.8 million in 2023. By 2033, the smart kitchen appliances market will reach USD 3,280.1 million.
With upgrades in lifestyle worldwide due to increasing disposable income, people are also looking to upgrade their homes. The introduction of the smart homes concept has led to renewed attention being paid to kitchens. By using smart kitchen appliances, smart kitchens can be achieved. Therefore, there is increasing demand for smart kitchen appliances.
People are also skewing towards living their life more healthily and being eco-friendlier. Smart kitchen appliances can help with both of these things. With smart kitchen appliances, consumers can track what and how much is consumed. Smart kitchen appliances also help with minimizing food waste.
With technology inescapable in the modern world, kitchen appliances too are benefiting from it. The list of things smart kitchen appliances can do is impressive and ever-increasing. From setting alarms for when food is cooked in an oven to keeping track of how much time the food has been in the refrigerator, the possibilities for smart kitchen appliances seem to be endless. Smart kitchen appliance manufacturers are further trying to improve their products with the help of AI, voice assistants, and more such innovations.
Key Takeaways from the Smart Kitchen Appliances Market
- The smart kitchen appliances market recorded a growth of 8.5% from 2023 to 2033.
- Smart refrigerators lead the appliances segment, accounting for 25.70% of the share in 2022.
- Wi-Fi is the leader in the connectivity technology segment, accounting for 20.40% of the market share 2022.
- The United States rules the roost among countries, enjoying 23% of the market share 2022.
- There is expected to be strong growth in the Asia Pacific market, with Japan making up 4.8% of the global market share in 2022, while China made up 6.2%
- In Europe, the United States and Germany made up 7.4% and 6.2% of the global market share, respectively in 2022.
Competition Analysis of the Smart Kitchen Appliances Market
Smart kitchen appliance manufacturers are increasingly investing in Research and Development (R&D) activities to propel themselves ahead of the competition. The market is heavily fragmented, but several established players exist. A few are Whirpool Corporation, LG Electronics, Panasonic Corporation, Haier Group, and Samsung Electronics Co. Ltd.
Recent Developments in the Smart Kitchen Appliances market
- In August 2023, the Samsung Food app was launched by Samsung Electronics Pvt. Ltd. It has a feature whereby users can scan a food item and get recipes. Those recipes can also be synced with an oven.
- In July 2022, Sharp Corporation launched the Sharp Smart Dishwasher. The innovative dishwasher can count among its capabilities, Wi-Fi connectivity and Alexa remote assistant.
- In April 2022, LG Electronics launched several smart kitchen appliances in India. A few of them were the InstaView Door-in-Door and Frost Free Refrigerators, AI Direct Drive Washing Machines, and a range of Charcoal Microwaves.
Key Companies in the Smart Kitchen Appliances Market
- Whirlpool Corporation
- LG Electronics
- AB Electrolux
- Panasonic Corporation
- Haier Group
- Samsung Electronics Co. Ltd.
- Koninklijke Philips N.V.
- General Electric Co.
- Onida
- Sector Qube
- Dacor
- Sharp Corporation
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Key Segments
By Appliances:
- Smart Refrigerator
- Smart Coffee Maker
- Smart Dishwasher
- Smart Cookware & Cooktop
- Smart Oven
- Other Appliances
By Connectivity Technology:
- Bluetooth
- Wi-Fi Market
- NFC
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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