Westford USA, June 28, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the industry's growth has been dramatically influenced by the strategic tactics implemented by market participants in recent years, including various extensions and expansions. The report offers comprehensive details and valuable information about the companies operating in the market and their interactions within the smart kitchen appliances industry.
Browse in-depth TOC on "Smart Kitchen Appliances Market."
- Pages - 234
- Tables - 65
- Figures –75
Smart kitchen appliances are renowned for their high quality and innovative features, designed to enhance comfort and efficiency in various kitchen operations. While they may come at a higher price than traditional appliances, their benefits outweigh the cost. One of the key advantages of smart kitchen appliances is their ability to reduce waste. These appliances often feature precise measurements, automated settings, and smart food storage capabilities, minimizing food spoilage and promoting sustainable practices.
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Prominent Players in Smart Kitchen Appliances Market
- Whirlpool Corporation
- LG Electronics
- Samsung Electronics
- Panasonic Corporation
- Haier Group Corporation
- General Electric Company
- AB Electrolux
- Koninklijke Philips N.V.
- Siemens AG
- BSH Hausgeräte GmbH
- Midea Group Co., Ltd.
- Robert Bosch GmbH
- Toshiba Corporation
- Hitachi, Ltd.
- Arcelik A.S.
- Sharp Corporation
- Vestel Elektronik Sanayi ve Ticaret AS
- Smarter Applications Ltd.
- June Life, Inc.
- Hestan Commercial Corporation.
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Smart Refrigerators Segment is Expected to Grow the Market Due to the Rising Adoption of Smart Cities
Smart refrigerators emerged as the dominant segment in the smart kitchen appliances market, capturing a significant revenue share of over 33%. The increasing popularity of smart refrigerators can be attributed to the broader adoption of smart cities and smart infrastructure, where connected appliances play a crucial role. The advent of the Internet of Things (IoT) has propelled the growth of the market, and smart refrigerators have become a prominent part of this ecosystem.
The market in North America has emerged as a leader in the smart kitchen appliances market, primarily due to several factors contributing to its growth. One of the key drivers is the increasing trend of technology-driven appliances in households. Consumers in North America are embracing smart kitchen appliances that offer convenience, efficiency, and enhanced functionalities, aligning with the overall smart home ecosystem.
Residential Segment is Expected to Dominate the Market Due to Rising Advancements in Technologies
The residential segment emerged as the dominant force in the smart kitchen appliances market, capturing a substantial revenue share of approximately 58%. The residential sector has witnessed a significant transformation in how consumers work in their home kitchens, primarily driven by technological advancements.
Regional markets in the Middle East & Africa is anticipated to exhibit the highest CAGR of 21.9% from 2023 to 2030 in the smart kitchen appliances market. Within this region, the Gulf Cooperation Council (GCC) stands out as a highly developed area, presenting ample opportunities for high-end kitchen appliance manufacturers. The region's strong economy, characterized by high household spending and growing commercial activities, has fueled the demand for smart kitchen appliances.
A comprehensive analysis of the major players in the smart kitchen appliances market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Smart Kitchen Appliances Market
- In 2023, Samsung Electronics Co. showcased its commitment to sustainable and smart living at the Kitchen & Bath Industry Show 2023 in the United States. The company unveiled its range of innovative smart appliances, aiming to advance technologies that promote energy conservation and offer personalized experiences. Samsung is dedicated to integrating these appliances with its SmartThings connected services, enhancing connectivity and enabling a more tailored user experience.
- Samsung Electronics recently unveiled its new line of Bespoke Flex refrigerators, featuring three distinct models: Stainless Steel, Bespoke, and Family Hub. These refrigerators offer a range of innovative features designed to enhance the user experience. One notable addition is the inclusion of a beverage center, allowing users to conveniently store and access their favorite drinks.
Key Questions Answered in Smart Kitchen Appliances Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Ceramic Sanitary Ware Market
Global Biodegradable Cutlery Market
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
