Transparency Market Research (TMR) states the global smart kitchen market has been expected to grow with a higher growth rate in coming years. The global smart kitchen appliances market is fragmented in nature with the presence of large number of small and large players. Companies are adopting the strategy of product innovation & development as well as investing in geographical expansion. Some of the large players are offering innovative product to increase their customer base.
As per TMR report, global smart kitchen appliances market size was valued at US$ 2,725.5 Mn and expected to grow with a CAGR of 25.5%. By the end of 2027, the market is forecasted to reach US$ 8,501.1 Mn in 2027.
Get sample copy of at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4044
It has been estimated that smart refrigerators segment dominate the product type market size. In terms of geography, the global smart kitchen appliances market has been divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North American region is expected to have higher market share in 2018. This is because of the already existing players in the market who are continuously launching innovative products to draw more revenue and have the largest share over the global market.
Key players operating in the global smart kitchen appliances market are Samsung Electronics Co. Ltd., Haier Group, LG Electronics, Inc., AB Electrolux, BSH Home Appliances Corporation (Robert Bosch GmbH), and Panasonic Corporation.
Availability of Energy Saving Product to Propel Market Growth
Consumer demand towards energy efficient product is increasing day by day. Rising cost of fossil fuel is driving the energy cost at a global level. By understanding this market scenario, companies are investing in energy saving products. Key players are invest on research & development activities to launch energy efficient products.
Rising demand of advanced smart home equipment in urban areas will work as a market driving factor. Consumers are spending on effortless kitchen appliances which can save their cooking time. Rising disposable income in developing countries including China, India, South Africa and Mexico that will further create new consumer base for smart kitchen appliance market.
High Product Cost To Restrict Market Growth
Average cost of smart home appliances are very high in retail market. It has become tough for middle class population to afford such products. Furthermore, traditional appliances are available in urban and rural market with a lower price. This factor will decrease the product sales in coming years.
The information presented above is based on the findings of a research report, titled,” Smart Kitchen Appliances Market (Products – Smart Refrigerators, Smart Dishwashers, Smart Ovens, Smart Cookware and Cooktops, Smart Scales and Thermometers and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027”.
The global smart kitchen appliances market can be segmented into the following categories:
Smart Kitchen Appliances Market by Products
- Smart Refrigerators
- Smart Dishwashers
- Smart Ovens
- Smart Cookware and Cooktops
- Smart Scales and Thermometers
Smart Kitchen Appliances Market by Applications
- Residential
- Commercial
Have any query? Inquiry about report at: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=4044
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
