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The global smart cooktops market is anticipated to witness a growth of steady CAGR during the forecast period, 2023-2027. High internet penetration, the proliferation of smart devices, and growing awareness about the use of smart cooktops and the development of smart infrastructure in developed and developing countries are driving the growth of the global smart cooktops market.
Smart cooktops connect with the smart home network, including other smart devices like smart microwaves, smart refrigerators, smart dishwashers, and use advanced cooking technology to enhance the cooking experience for more even cooking. Smart cooktops can be accessed through smartphones or other smart devices to enter the instructions without needing to go physically near the smart cooktop. These often use Bluetooth and Wi-Fi technology to send information over the internet to a smart cooktop.
Adoption Of Quality Lifestyle and Growing Disposable Income Fuels Market Growth
Ongoing economic transformations are going around the globe increase consumers' purchasing capacity to afford the improved lifestyle. In developing economies, rapid urbanization and industrialization make consumers adopt advanced technologies and equipment to experience comfort and convenience while indulging in household chores like cooking. The launch of initiatives for digital transformation and the construction of smart cities by the leading authorities is expected to upgrade the existing infrastructure and make the system compatible to adjust according to new technologies is expected to create a market for the growth of smart cooktops. Market players are investing in research and development activities to develop innovative technologies and introduce smart products with user-friendly features to attract more customers and boost their sales. The United States is expected to witness huge sales of smart cooktops due to major market players and consumers' high per capita income.
Rising Awareness About Benefits of Using Smart Technology Boosts Market Growth
The global cooktops market is expected to grow at a CAGR of over 7% during 2022-2027. And with the launch of advanced products, global smart cooktops are expected to grow rapidly. Smart cooktops allow consumers to give instructions via texting or by using the voice. The cooktop is adjusted according to the required temperature and can be turned off by smartphone. A smart stove offers a customizable cooktop that can accommodate any dish, pan, or pot. Gas cooktop allows selecting the best cooking precision, while induction cooktop offers attractive features to provide the best cooking experience for consumers. The global induction cooktops market stood at near USD15 billion in 2020. Smart cooktop learns the cooking habits of consumers over a while and sends notifications or alerts when the smart cooktop is on for longer than usual. Smart cooktops use geofencing technology to find the smartphone location, indicating whether you have left home without turning off the smart cooktop and alerts to turn off the stove to prevent the spread of accidental fire. Smart cooktops provide a cost-effective solution to consumers and offer several advantages over conventional cooktops, which is expected to boost the growth of the global smart cooktops market in the forecast period.
The global smart cooktops market is segmented by type, number of burners, distribution channel, regional distribution, and competition landscape. Based on the type, the market is divided into gas cooktop, induction cooktop and hybrid cooktop. Based on the end use, the market is divided into below 3, 3-4 and more than 4. Based on the distribution channel, the market is bifurcated into offline and online. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North American region, European region, Asia-Pacific region, South American region, and Middle East & African region.
Samsung Electronics Co., Ltd., GE Appliances, a Haier company, BSH Home Appliances Corporation, Whirlpool Corporation, Electrolux Home Products, Inc., LG Electronics Inc., BuzzFeed, Inc. (one Top), are among the major market players in the global platform that lead the market growth of the global smart cooktops market.
In this report, global smart cooktops market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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