North America Smart Kitchen Appliances Market By Product (Smart Refrigerators, Smart Cookware and Cooktops, Smart Ovens, Smart Dishwashers, and Other Products), By Applications (Residential and Commercial), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The North America Smart Kitchen Appliances Market would witness market growth of 16.4% CAGR during the forecast period (2021-2027).
Smart kitchen appliances comprise a wide range of appliances like smart cookware, smart refrigerators, smart cooktops, dishwashers, smart electric kettles, smart coffee makers, and many others. These appliances use the latest technologies like IoT and AI to provide various features and benefits. The technological advancement taking place across the world is fueling the demand for smart kitchen appliances. In addition, several benefits of these appliances like cost-effectiveness would attract more customers towards its adoption, which is estimated to surge the growth of the smart kitchen appliances market over the forecast period.
The ongoing development and innovations within the kitchen appliance industry are attracting customers to adopt more technically advanced appliances. In this modern world, everything is getting linked to technology and thus, making technology a crucial aspect of life. The shifting lifestyle of the customers is contributing to the growth of the regional smart kitchen appliances market. The high adoption rate of technologically advanced products is boosting the demand for these products.
In addition, the increasing popularity of connected home devices like dryers, dishwashers, and refrigerators, is supporting the growth of the regional market. Though, built-in connectivity is a specific characteristic in big kitchen appliances in the US, there is an increase in smart assistant speakers recorded in this region. For instance, Whirlpool combined technological advancement in selected kitchen appliances, which is added to the Smart Home Line.
There is a shift in the trend among consumers towards the adoption of compact single households and combined kitchen designs that would support the development of smart kitchens. Along with convenience and easy management, smart kitchen appliances would fulfil sustainability purposes. For instance, in connected household appliances, consumers can store their shopping list and can also check what is in the refrigerator and what they need to buy by using a smartphone.
The US market dominated the North America Commercial Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3,840.7 million by 2027. The Canada market is experiencing a CAGR of 19.6% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 18.5% during (2021 - 2027).
Based on Product, the market is segmented into Smart Refrigerators, Smart Cookware and Cooktops, Smart Ovens, Smart Dishwashers, and Other Products. Based on Applications, the market is segmented into Residential and Commercial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BSH HausgerÄte GmbH, Whirlpool Corporation, Miele & Cie. KG, LG Electronics, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Koninklijke Philips N.V., GE Appliances, a Haier Company, Electrolux AB, and Daewoo Electronics Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Smart Refrigerators
- Smart Cookware and Cooktops
- Smart Ovens
- Smart Dishwashers,
- Other Products
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- BSH Hausgeräte GmbH
- Whirlpool Corporation
- Miele & Cie. KG
- LG Electronics, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Panasonic Corporation
- Koninklijke Philips N.V.
- GE Appliances, a Haier Company
- Electrolux AB
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