Growing Demand for Kitchen Tech to Make Cooking Safer and More Effective to Drive Smart Kitchen Appliances Market

21/set/2020 17:47:11 Pradeep Z Contatta l'autore

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The North America and Europe smart kitchen appliances market is expected to exhibit steady growth over the forecast period due to the growing consumer inclination towards the use of wireless connectivity for kitchen-based applications. This information comes from the latest research report from Market Research Future (MRFR). The MRFR report provides a comprehensive overview of the smart kitchen appliances market’s historical growth trajectory in North America and Europe, elaborating upon the major drivers and restraints affecting the market. The immediate economic environment of the Smart Kitchen Appliances Market Demand is also studied in the report in order to provide readers with pointers as to how major macroeconomic and microeconomic factors impact the smart kitchen appliances market. The leading players operating in the North America and Europe smart kitchen appliances market are also studied in the report to provide readers with a clear picture of the competitive landscape of the market.

Smart kitchen appliances are an extension of the overall development of the Internet of Things, and consist of a wide range of devices including smart pans, smart ovens, smart weighing scales, and more. Smart kitchen appliances are geared towards making cooking easier for consumers and provide various data such as the temperature of the food. Based on the temperature of the food, devices such as smart pans and ovens can recommend when to flip or turn the food in question, in order to obtain uniform heating. Smart kitchen appliances can also provide recipes from web-based platforms, so that home-based consumers can easily prepare their food. This enhances the safety as well as utility of kitchen appliances, as temperature sensors and time sensors can determine if a piece has been used for too long. This also allows the consumer to relax about the quality of the food being cooked, as there is little chance of overcooking or undercooking when the implement has built-in temperature sensors determining the best way to cook the food.

The growing awareness about the Internet of Things (IoT) in consumers in North America and Europe is likely to be a major driver for the North America and Europe smart kitchen appliances market over the forecast period. With the increasing adoption of IoT principles and technology, consumers have become familiar with the concept, enabling growing demand from the smart kitchen appliance market. The growing disposable income of consumers in North America and Europe is also likely to be a major driver for the North America and Europe smart kitchen appliances market.

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Competitive Analysis:

Leading players in the North America and Europe smart kitchen appliances market include Etekcity Corporation, Lakeland Limited, Hestan Cue Inc., Vorwerk Elektrowerke GmbH & Co. KG, Tovala, Samsung Electronics Co. Ltd., Whirlpool Corp., Robert Bosch GmbH, Hamilton Beach Brands Inc., AB Electrolux, and Breville Group Ltd.

In September 2019, Sharp announced a new line of smart ovens, called Love2Cook smart oven. The oven is integrated with the smart kitchen app Innit, which will provide the users with customized recipes based on the availability of ingredients.

The same month, Haier announced that its new smart refrigerators will integrate SideChef, providing users with customized recipes based on the inventory in their refrigerators.

Segmentation:

The North America and Europe smart kitchen appliances market is segmented on the basis of product type, application, technology, distribution channel, and region.

By product type, the North America and Europe smart kitchen appliances market is segmented into crockpots, instant pots, combination ovens, smart ovens, smart weighing scales, thermomix, intelligent pans, and others. The intelligent pans segment is expected to exhibit the highest growth rate over the forecast period.

By application, the market is segmented into residential and commercial. The residential sector is likely to dominate the North America and Europe smart kitchen appliances market over the forecast period.

By technology, the market is segmented into RFID, Bluetooth, wireless sensor networks, and others, with the wireless sensor networks segment holding the largest share in the market.

By distribution channel, the North America and Europe smart kitchen appliances market is segmented into store-based and non-store based.

Regional Analysis:

The North America and Europe markets for smart kitchen appliances are expected to reach a valuation of USD 5,906.78 million and USD 5,595.05 million, respectively, by 2023. Europe is expected to grow at a higher CAGR of 18.82%, while the North America market is expected to grow at a CAGR of 18.08% over the forecast period.

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