Smart Kitchen Appliance Market size to increase by USD 9.40 Bn | Driven by growing demand for premium, innovative appliances

NEW YORK, May 30, 2022 /PRNewswire/ — The “Smart Kitchen Appliance Market by Product, Distribution Channel, and Geography – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. According to the report, the global smart kitchen appliance market size is expected to increase by USD 9.40 billion between 2020 and 2025, expanding at a CAGR of 12.65% during the forecast period. The report provides a detailed analysis of the vendor landscape, growth opportunities across business segments, and market growth across regions.

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Vendor Landscape
The global smart kitchen appliance market is fragmented. The market is characterized by the presence of several well-established vendors. Market vendors are focusing on technology for innovating products to sustain themselves in the competitive market. They are also focusing on building brand and brand equity in the market to differentiate themselves from competing brands.

Technavio identifies AB Electrolux, Breville USA Inc., Haier Smart Home Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Miele & Cie. KG, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sub-Zero Group Inc., and Whirlpool Corp. are some of the major market participants. Although the growing demand for premium, innovative appliances, increasing adoption of smart connected home system, and the ease of use and convenience offered by smart kitchen appliances will offer immense growth opportunities, the high cost of installation, lack of product and technology awareness, especially in developing regions, and the impact of COVID-19 pandemic on market will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Smart Kitchen Appliance Market 2021-2025: Segmentation

The global smart kitchen appliance market is segmented as below:

The market will observe high demand for smart cooking appliances during the forecast period. Factors such as enhanced living standards and growing interest in smart connected home appliances are driving the demand for such products. Also, the growing trend of modular kitchens with large cooking appliances is further driving the demand.

The offline segment will account for maximum growth in terms of sales and revenue generation. The segment is driven by increasing strategic alliances between vendors and household appliance retail chains.

About 34% of the market growth will originate from North America during the forecast period. Factors such as the availability of favorable infrastructure, high internet penetration, and the adoption of smart homes are driving the growth of the regional market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our smart kitchen appliance market report covers the following areas:

Smart Kitchen Appliance Market 2021-2025: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the smart kitchen appliance market. Backed with competitive intelligence and benchmarking, our research report on the smart kitchen appliance market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Smart Kitchen Appliance Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025

• Detailed information on factors that will assist smart kitchen appliance market growth during the next five years

• Estimation of the smart kitchen appliance market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the smart kitchen appliance market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of smart kitchen appliance market vendors

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Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Market Segmentation by Distribution channel

7 Customer landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

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SOURCE Technavio