Smart Kitchen Appliances Market Generate North America USD 5906.78 Million and Europe USD 5595.05 Million
Smart Kitchen Appliances Market Report
The North America & Europe market for smart kitchen appliances has witnessed continued demand during the last few years and is projected to reach USD 5906.78 Million in North America and USD 5595.05 Million in Europe by 2023. Among the two regions, Europe will witness a high growth rate of 18.82% during the given forecast period. Increasing consumer’s inclination towards the adoption of advanced technology into their daily routine is likely to drive the North America & Europe smart kitchen appliances market
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North America And Europe Smart Kitchen Appliances Market Information: by Product-Type (Crockpot, Instant Pot, Combination Ovens, Smart Ovens, Smart Weighing Scale, Thermomix, Intelligent Pan, others), by Application (Residential, Commercial), by Technology Type (RFID, Bluetooth, Wireless Censor Networks, others), By Distribution Channel (Store Based (Supermarkets & Hypermarkets, Specialty Retailers, Departmental Stores, Mass Retailers, others), Non- Store Based), and by Region- Forecast to 2023
North America will continue to dominate the smart kitchen appliances market and is projected to grow at CAGR of 18.08% by 2023. Availability of wide range of smart kitchen appliances has increased the popularity due to convenience usage of smart kitchen appliances among consumers in developed regions. High focus on R & D has led to innovations in the appliances adding value to the final product. The appliances are now used with the help of connected smart phones which makes the consumers cooking experience hustle free. All these factors have a positive impact on the smart kitchen appliances market.
Based on the product-type available in smart kitchen appliances, intelligent pans will witness highest growth rate (~18.87%) in North America and (~16.34) in Europe. By 2023, intelligent pans are anticipated to reach a market value of more than USD 200 Million in North America and Europe. Rising applications of intelligent pans for quick cooking of food products and also its integration to the smart phone which gives ‘one click’ cooking experience will support the growth of these appliances.
By 2023, residential application of smart kitchen appliances will dominate the applications and is evaluated to grow at a rate of 18.50% in Europe during the forecast period. Increasing demand for luxury cookware from the consumers’ end has a positive impact on this market.
On the basis of technology, wireless sensor networks will continue to dominate the smart kitchen appliances market holding a major share of more than 30% in both the regions. Fastest growing application of wireless technology will influence the positive growth of this market.
Owning to ‘one-stop shopping experience,’ store-based sale of smart kitchen appliances is found to dominate the market in Europe and North America. In Europe, Store based sale is estimated to grow at a CAGR of 18.56% whereas, in North America, sale through store based channels is estimated to grow at a CAGR of 17.88%.
Some of the leading players in the North America & Europe smart kitchen appliances market primarily are: Breville Group Ltd., AB Electrolux, Hamilton Beach Brands, Inc., Robert Bosch GmbH, Whirlpool Corp., Samsung Electronics Co., Ltd., Tovala, Vorwerk Elektrowerke GmbH & Co. KG, Hestan Cue, Inc., Lakeland Limited, Etekcity Corporation
- North America & Europe smart kitchen appliances market is projected to reach more than USD 5,000 Million by 2023 at growth rate of 18.08% and 18.82% respectively
- Combination ovens will continue to dominate the smart kitchen appliances product-type segment with more than 20% market share
- Residential application will continue to dominate the smart kitchen appliances market with more than 50% market share, and it is projected to grow at a CAGR of 18.50% in Europe and 17.81% in North America by 2023
- Based on the technology, wireless sensor networks is expected to dominate in both the regions holding a market share of more than 30%
- Store based distribution and sale of smart kitchen appliance is projected to dominate the share in the North America and Europe smart kitchen appliances market
Regional and Country Analysis of Smart Kitchen Appliances market Development and the Demand Forecast till 2023 Market
As per the MRFR analysis, the North America and Europe market for smart kitchen appliances have been witnessing continued demand during the last few years and is projected to reach USD 5906.78 million in North America and USD 5595.05 million in Europe by 2023. North America region is estimated to dominate the smart kitchen appliances market holding the lion’s share of more than 50%. However, Europe will witness the highest growth rate of 18.82% in the global smart kitchen appliances market.
Study Objectives of Smart Kitchen Appliances Market:
- Detailed analysis for individual micro and macro markets for smart kitchen appliances
- To estimate market size by product-Type, Application, Technology-Type, Distribution Channel and Region
- To understand the supply and demand dynamics of smart kitchen appliances
- To provide region level market analysis and future outlook for the U.S., Spain, the U.K., France, and others
- Company profiling of major players and competitive positioning for the smart kitchen appliances market
- Value chain analysis and supply chain analysis of smart kitchen appliances
- Analysis of historical market trends and technologies, and current government regulatory requirements related to smart kitchen appliances market
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