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Explore global smart connected cooking appliances market forecast 2017-2021

Consumer Market Research

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.

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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.

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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.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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:
• Americas
• Europe

Technavio’s report, Global Smart Connected Cooking Appliances Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

Key vendors
• Haier
• LG Electronics
• Robert Bosch
• Whirlpool

Other prominent vendors
• Behmor
• Breville
• Electrolux
• June Life
• Koninklijke Philips
• Newell Brands

Market driver
• Rising innovation in product and technology
• For a full, detailed list, view our report

Market challenge
• High price of smart connected cooking appliances
• For a full, detailed list, view our report

Market trend
• Increasing adoption of modular kitchen
• For a full, detailed list, view our report

Key questions answered in this report
• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?

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