Market Overview

Global Smart Kitchen Appliances Market to Grow at a CAGR of 29.1% by 2022 with Growing Acceptance of Technologically Advanced Products - TMR

Share:

Albany, New York, Aug. 07, 2018 (GLOBE NEWSWIRE) -- The global smart kitchen appliances market has been expanding at a starry rate due to the rigorous efforts of the market players to promote their products. Transparency Market Research (TMR) analysed the key strategies and hacks used by market vendors to enhance their prospects of growth in the global market for smart kitchen appliances. The leading market players have earned the trust of the consumers by introducing innovative kitchen appliances in the market, and are expected to continue on their streak of innovation.

Since the entire world is moving towards a scenario of technological supremacy, there lie tremendous growth opportunities in the global smart kitchen appliances market. Hence, several new players are expected to make their way into the kitchen appliances market to excavate the benefits of a product-hungry market. Some of the key players in the global market for smart kitchen appliances are LG Electronics, Inc., Whirlpool Corporation, and Samsung Electronics Co. Ltd.

Request a PDF Brochure at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4044

Transparency Market Research (TMR) estimates that the global market for smart kitchen appliances would accumulate revenues worth US$ 2,730.6 Mn in 2022, rising up from a value of US$ 476.2 Mn in 2013; the CAGR of the global market is projected to be 29.1% over 2014 to 2022. Based on product type, smart refrigerators are in great demand across the globe. Furthermore, the market for smart kitchen appliances in North America has been booming over the past decade.

Quest to Improve Residential Sector to Propel Market Demand

A large population of people has given in to the promotion of better living standards through media and advertisement. These promotions include the marketing of consumer electronic including kitchen appliances such as smart refrigerators, smart mixer grinders, water purifiers, and other similar products. Hence, the demand within the global market for smart kitchen appliances is projected to escalate at a robust rate over the forthcoming years. Interior designers and planners also recommend smart kitchen appliances to give a touch of sophistication to residential units.

Get a PDF Sample at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4044

The rising disposable income of the masses has made it easy for them to buy smart kitchen appliances. Furthermore, the commercial sector has also begun using smart devices and appliances in order to save energy and function as a responsible unit.

High Costs of Smart Kitchen Appliances to Restrain Market Growth

Although the global market for smart kitchen appliances has been expanding at a skyrocketing pace, the high costs of these appliances could hamper the growth of the market. A large population in the emerging economies lies in the lower-income group, thus, making it difficult for them to afford smart appliances. Furthermore, the restaurant industry is reluctant to use smart kitchen appliances as it increases the total cost of production. This rips away a huge consumer base from the global market for smart kitchen appliances. Nevertheless, the improving living standards of the people, especially in the western regions, are anticipated to keep bolstering demand within the global smart kitchen appliances market. Besides this, the effective marketing strategies of vendors in the global smart kitchen appliances market are also projected to enhance the growth prospects of the market.

Download Report TOC at https://www.transparencymarketresearch.com/report-toc/4044

The review is based on TMR's report titled "Smart Kitchen Appliances Market (Products - Smart Refrigerators, Smart Dishwashers, Smart Ovens, Smart Cookware and Cooktops, Smart Scales and Thermometers and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022".

The report segments the global smart kitchen appliances market along the following lines:

Smart Kitchen Appliances Market, by Products

  • Smart Refrigerators
  • Smart Dishwashers
  • Smart Ovens
  • Smart Cookware and Cooktops
  • Smart Scales and Thermometers
  • Other Products (Kettles and Coffee Makers)

Smart Kitchen Appliances Market, by Applications

  • Residential
  • Commercial

Smart Kitchen Appliances Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)
  • Latin America

Popular Reports by TMR:

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact Us

Mr. Atil Chaudhari
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Research Blog: http://www.techyounme.com/

Primary Logo

View Comments and Join the Discussion!