Smart kitchen: Key market research findings
- Emergence of innovative products and appliances
- Energy efficiency of smart kitchen appliances
Technavio has released a new market research report on the global smart kitchen market, which is expected to generate revenues around $7 billion by 2020. Smart kitchens provide a smart environment, which makes it easy for the user to perform meal-preparation activities. It integrates a wide variety of technologies, including smart refrigerators, dishwashers, cookware and cooktops, microwave ovens, sensors, and a user interface. Smart refrigerators are the most used smart kitchen appliances. The Americas dominate the global smart kitchen market, occupying around 62% of the total market share. Rapid technological innovations and changing consumer preferences over the use of electronic devices are major factors contributing to high demand for smart kitchens in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The market is going through a series of technological innovations in terms of products and appliances. For instance, Whirlpool’s interactive backsplash and cooktops can be connected to social media websites, and digital recipes, allowing the user to create customized menus. Smarter’s Wi-Fi–enabled coffee machines can grind beans and adjust water levels, XYZPrinting’s 3D food printer is capable of making cookies and sweets, and HAPILABS’s HAPIfork can monitor users’ eating habits. Growing use of these smart devices will boost the smart kitchen market over the next four years,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
Smart kitchen appliances consume less energy, as they provide continuous feedback to the user on energy consumption. Once the user gets to know the energy required to dry clothes in a dryer, they can decide the amount of load the dryer can take to dry a particular set of clothes. Even the refrigerator can automatically switch off by informing the owner. Energy saving will be a major factor that will drive growth in this market. Also, this will prompt governments to encourage the adoption of smart kitchen appliances among individual consumers during the forecast period.
The leading vendors in the global smart kitchen market are Dacor, Electrolux, GE, Haier, LG Electronics, SectorQube, Onida, Samsung and Whirlpool. Though the market is in its nascent stage, it has huge growth potential for market vendors. Several new players such as Firebox, HAPILABS, Smarter, XYZPrinting, and PicoBrew are expected to enter the market during the forecast period. Intense competition prevails in this market, where vendor are constantly making technological innovations in their product offerings.
A more detailed analysis is available in the Technavio report, Global Smart Kitchen Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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