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Smart kitchen appliances uses technology that have the capability to perform functions faster and cheaper. Smart kitchen appliances are energy efficient appliances relative to traditional kitchen appliances. It consist of feature that automatically switches off the appliances as per requirement by informing the owner, one of the major factors driving the smart kitchen appliances market growth. In addition, the increasing adoption of IoT technology also plays a major role for the growth of the smart kitchen appliances market. However, lack of awareness about the advantages and high maintenance cost of the smart kitchen appliances are some of the major factors which hinders growth of the smart kitchen appliances market.     

Global Smart Kitchen Appliances Market Taxonomy

On the basis of type, the global smart kitchen appliances market is segmented into:

  • Smart Coffee Maker
  • Smart Cooker
  • Smart Cooktop
  • Smart Dish Washer
  • Smart Freezer
  • Smart Kettle
  • Smart Oven
  • Smart Refrigerator
  • Others

On the basis of technology, the global smart kitchen appliances market is segmented into:

  • Bluetooth
  • Near Field Communication
  • Wi-Fi

On the basis of end users, the global smart kitchen appliances market is segmented into:

  • Commercial
  • Residential

On the basis of regions, the global smart kitchen appliances market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

The smart refrigerator segment held a dominant position in smart kitchen market in 2016 and is projected to retain its dominance throughout the forecast period. The smart refrigerator keeps the record of products kept inside with the help of barcode and RFID. It reduce the power consumption by automatically switching off the power as required, which raised the demand for smart refrigerator in the market. The Wi-Fi technology segment held a dominant position in smart kitchen appliances market in 2018 and is projected to retain its dominance throughout the forecast period. By the end of the year 2018, it is projected that approximately 55.6% households will have an internet access worldwide compared to 53.5% in 2017. The increasing household’s internet access fuels the Wi-Fi technology segment in smart kitchen appliances market. The residential segment held a dominating position in smart kitchen market in 2018 and is projected to retain its dominance throughout the forecast period.

Smart Kitchen Appliances Market Outlook – North America holds significant market share

Regional segmentation of smart kitchen appliances market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America Holds the major share in the global smart kitchen appliances market and is projected to retain its dominance throughout the forecast period. This is owing to increasing number of smart grid power projects, changing lifestyle, and increasing per capita income. The U.S. and Canada are the major countries which drives the smart kitchen appliances market in North America region. Asia Pacific is projected to exhibit highest CAGR over the forecast period. India, china, Japan, and South Korea are some of the major countries that drives the market in Asia Pacific region.  However, China held the dominant position in 2018 and is projected to witness highest CAGR over the forecast period in the region. This is mainly owing to factors such as growing economy and high investments in smart grid projects.          

Global Smart Kitchen Appliances Market: Key Players

Key players operating in the global smart kitchen market include General Electric Co. (GE), LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Whirlpool Corporation, Electrolux AB, Koninklijke Philips N.V., Electrolux, Qingdao Haier Co Ltd, and Dacor.

Global Smart Kitchen Appliances Market: Key Developments

  • In September 2019, Bosch announced a launch of its photo finish fridges and ovens with built in AI Technology. Bosch unveiled new refrigerator models that expand the company's line of camera-connected food storage. The KAD92HBFP and KGN39HIEP models include a built-in camera. The BOSCH SERIES 8 OVEN HRG6769S6B is a smart oven with AI. These ovens can predict, and learn when your food will be done based on your specifications.
  • In August 2019, Sharp, Japanese electronics company, announced a launch of its first full suite of built-in kitchen products. The kitchen suit offered by the Sharp will include supersteam ovens, induction cooktops, wall ovens, slide-in range, microwave drawers, and over-the-range microwave ovens. In addition to these products, the company will offer dishwashers and refrigerators. The Sharp 24-inch IoT SuperSteam Built-In Oven and the Sharp 24-inch IoT Microwave Drawer are IoT-enabled to integrate with smart home devices.
  • In April 2019, Pocket Kitchen LLP announced a launch of its German kitchen robot called “Thermomix” in India. Thermomix is a unique all-in-one smart kitchen appliance that will enhance the way people cook by helping them unlock their full culinary potential while saving time and effort. Thermomix unites the functions of 12 appliances into one compact unit that includes features such Milling or grinding, cooking, emulsifying, whipping, steaming, mixing, precise heating, etc.
  • In February 2019, LG announced a partnership with Tovala, a smart oven company based out of Chicago for automated cooking solution and meal services.
  • In January 2019, GE Appliances announced to launch its Smart Kitchen Hub at a cost ranging from $1,200 to $1,400 MSRP. The smart kitchen hub is built on the company’s much-lauded GE Appliances U+ Connect platform and features a built-in Google Assistant as well as access to thousands of recipes through SideChef and access to entertainment options like Netflix and Spotify.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users