Global Smart Connected Cooking Appliances Market 2017-2021
About Smart Connected Cooking Appliances
Smart connected kitchen appliances include refrigerators, dishwashers, cookware, cooktops, and other cooking appliances. Owing to the growing popularity of the modern and smart kitchen concept, customers are willing to spend on such products. These appliances work similar to that of the regular kitchen appliances. They also provide additional advantages, such as remote access, control, and monitoring, because of the wireless technologies equipped with them. Because of the hectic lifestyles of people and need for proper time management, smart connected kitchen appliances are good options to opt for.
Technavio’s analysts forecast the global smart connected cooking appliances market to grow at a CAGR of 19.93% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart connected cooking appliances market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Connected Cooking Appliances Market 2017-2021
Technavio recognizes the following companies as the key players in the global smart connected cooking appliances market: Haier, LG Electronics, Robert Bosch, SAMSUNG, and Whirlpool.
Other Prominent Vendors in the market are: Behmor, Breville, Electrolux, June Life, Koninklijke Philips, Newell Brands, and SMARTER APPLICATIONS.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing adoption of modular kitchen. With the improving living standards, people are willing to invest in kitchen renovation and transform them into modular ones. Design-savvy customers prefer sophisticated and modern designs that require minimal space. These designs provide an aesthetic appearance to the kitchen. The changes in customer preferences have forced the manufacturers to provide value additions to the cooking appliances portfolio used in the modular kitchen. The demand for built-in cooking appliances such as ranges, wall ovens, cooktops, and others has grown from last few years. This is also due to the rise in housing constructions, through which modern kitchen designing got increased.”
According to the report, one of the major drivers for this market is Rising innovation in product and technology. In the global smart connected cooking appliances market, the products usually fall into the premium category. This is attributed to the innovation and technology implemented on cooking appliances. Different varieties of cooking appliances are offered with the smart connectivity technology. Such products include cooktops, wall ovens, microwaves, range, and coffee makers. The rising living standards of people and increasing expenditure on technology and connected devices propel the demand for smart and advanced appliances. Smart connected products provide convenience to the customers while cooking.
Further, the report states that one of the major factors hindering the growth of this market is High price of smart connected cooking appliances. Compared to the regular cooking appliances, smart connected cooking appliances are expensive. This is because of the integrated wireless technology within these smart appliances. In many nations, traditional cooking is still preferred over smart connected cooking appliances. Thus, manufacturers face challenges in marketing these appliances. Due to the affordability of regular cooking appliances, price-sensitive consumers are not much enthusiasm to invest in smart products.
Haier, LG Electronics, Robert Bosch, SAMSUNG, Whirlpool, Behmor, Breville, Electrolux, June Life, Koninklijke Philips, Newell Brands, and SMARTER APPLICATIONS.
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