Get the Latest Global and China Market Research Reports by AskLinker

In-depth analysis, competitive scenario, trends, forecasts and more

Ask Linker Reports
Mounting Demand For Smart And Green Appliances To Drive Global Smart Kitchen Appliances Market
Published : 2016-09-16

The intensifying demand for connecting kitchen appliances and accessories to smart technologies is the major element motivating the global smart kitchen appliances market. Futuristic kitchen appliances brag about first-class design and offer enhanced efficiency and ease than their old-fashioned colleagues. These appliances also guarantee energy efficacy. Owing to growing improvements in the kitchen appliances industry, the market is expected to see noteworthy growth over the coming years. The global smart kitchen appliances market, which was worth $476.2 million in 2013, is projected to reach $2,730.6 million by the end of 2022. The market is thus estimated to magnify at an extraordinary CAGR of 29.1% between 2014 and 2022. 

The smart kitchen devices are well-furnished with sensors and are designed with cutting-edge connectivity features, which can link to handheld gadgets or other household devices. Practical as well as easy access is expected to gain importance, thus leading to the development of proficient appliances. High energy depletion of old-style appliances is anticipated to be one of the significant aspects driving the change towards smart devices in the near future.

Increasing energy prices is estimated to boost the industry over the next few years. Escalating buying power of the customers, chiefly in developed economies and accumulative acceptance of luxurious goods has positively impacted the smart kitchen appliances market demand. Great energy efficacy is also one of the vital factors likely to boost implementation.

Dearth of attentiveness about these machines and their profits over the outmoded devices are likely to encumber market growth over the next few years. Extensive digitization is projected to open possibilities for industry growth. Expensive initial as well as upkeep costs of the appliances are projected to be a threat to industry growth, especially in developing countries in the coming years.

Smart kitchen appliances are advanced machines that are crafted to guarantee more ease and competence in the daily kitchen operations along with offering high energy efficiency. With the introduction of the state-of-the-art technologies these machines have become conventional in the IoT revolutions. Therefore the smart kitchen appliances market now has innovative and linked appliances available extending from cutlery sets to smart stoves. 

North America leads the global smart kitchen appliances market. The area accounted for a share of 39.5% in the global market in 2013. Nevertheless, over the approaching years Asia Pacific is anticipated to display the fastest CAGR of 29.9%. Other major regional markets for smart kitchen appliances include Europe, Latin America, and the Middle East and Africa. 

Read more on Electronics on:

http://www.asklinkerreports.com/category/electronics-market-research

We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy