Published Date: 24-Nov-2021
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According to a new report Global Smart Kitchen Appliances Market, published by KBV research, The Global Smart Kitchen Appliances Market size is expected to reach $33.3 billion by 2027, rising at a market growth of 17.3% CAGR during the forecast period.
Smart refrigerators accounted for the largest share of the smart kitchen appliances market in 2020. The growth of the market would witness bright prospects due to the high spending of the customers on home refurbishment in the residential sector and emerging cook-at-home trend are projected to spur the growth of the market. The smart home idea is gaining traction among the customers, which is shifting the preference of the customers on smart kitchen appliances, thereby unlocking growth prospects for the smart kitchen appliances market.
The residential segment acquired the largest market share in 2020. The increasing popularity of cooking due to the higher awareness created by popular cooking shows that are telecasted on TV is developing more interest among the customers for cooking and thus, surging the demand for high-end smart kitchen appliances.
The North America market dominated the Global Smart Kitchen Appliances Market by Region in 2020. The Europe market is experiencing a CAGR of 16.9% during (2021 - 2027). Additionally, The Asia Pacific market is estimated to grow at the highest CAGR of 18.7% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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