Report : North America Smart Kitchen Appliance Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Smart Ovens, Smart Refrigerator, Smart Juicers and Blenders, Smart Cookers and Cooking Robots, Smart Cooktops, Smart Integrated Cooktops and Ovens, Smart Sous Vide, and Others), Connectivity (Wi-Fi and Bluetooth), and End User (Residential and Commercial)
The smart refrigerator segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “North America Smart Kitchen Appliance Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application, Connectivity and Country.” The North America smart kitchen appliance market is expected to reach US$ 16,175.9 million by 2028 from US$ 5,475.4 million in 2021; it is estimated to grow at a CAGR of 16.7% from 2021 to 2028. The report highlights trends prevailing in the North America smart kitchen appliance market and the factors driving market along with those that act as hindrances.
The construction sector in North America is witnessing substantial demand for connected homes equipped with technologically advanced appliances and devices. Developed countries such as the US have made interesting strides in smart home developments. The US market has witnessed substantial growth in the number of smart homes, and the country is expected to experience similar trends in the coming years. The rapid shift in the mindsets of the US population is heavily impacting the growth of smart home appliances such as smart speakers, smart thermostats, smart lighting, and smart security devices. According to Alarm.org, 57% of Americans admitted that by using smart products, they could save ~30 minutes of their time in a day; ~47% of millennials are already using smart home products. The penetration of these smart devices is opening up the growth avenues for smart kitchen appliances as these appliances are among the necessary household items. Owing to the change in the mindset of the global population, majorly among the people in developed countries and a few developing countries, the smart kitchen appliances market is expected to have a positive outlook in the future. Also, the hospitality industry in various geographies is procuring robotic technologies and connected technologies to enhance customer satisfaction. Smart TVs, voice-controlled rooms, robotic luggage storage, and digital concierge are among the prominent smart hotel technologies. Various hotel management teams are showcasing interest in transforming their kitchens into smart kitchens with the procurement of smart kitchen appliances. The integration of cloud-based technologies and smartphones is enabling hotels and restaurant owners to remotely control and monitor their commercial kitchen appliances.
Since the onset of the COVID-19 pandemic, a majority of the manufacturing plants were operating with a partial workforce or were closed until the third quarter of 2020. The spread of SARS-CoV-2 also led to disruptions in the supply chain of raw materials and components. These constitute critical challenges faced by manufacturers in North America till the Q4 of 2020. Since the region is characterized by high GDP per capita and a high standard of living, the demand for advanced consumer electronics is always high. Although the supply side in the smart kitchen appliances market faced hindrance, the demand side is generating high demand for these products due to remote working and learning practices.
Based on product, the North America smart kitchen appliance market is segmented into smart ovens, smart refrigerators, smart sous vide, smart juicers and blenders, smart cookers and cooking robots, smart cooktops, smart integrated ovens and cooktops, and others. By end user, the North America smart kitchen appliance market is segmented into commercials and residential. Geographically, the North America smart kitchen appliance market is sub-segmented into U.S, Canada and Mexico.
Electrolux AB, BSH Hausgeräte GmbH, GE Appliances, LG Electronics, Koninklijke Philips N.V., Panasonic Corporation, Samsung Electronics Co., Ltd., Whirlpool Corporation, Breville Group Limited and Vita-Mix Corporation are among the leading companies operating in the North America smart kitchen appliance market.
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