Europe Smart Kitchen Appliance Market

Market Introduction

The smart kitchen appliances products encompasses set of consumer kitchen appliances and electronics exclusively designed for commercial and/or residential cooking requirements. The key differentiating factor between the conventional and smart kitchen appliances is that the later utilizes the application of any technology driven solutions or features that facilitates in enhanced consumer experience for its customers compared to the conventional kitchen appliances.

Market Overview and Dynamics

The Europe smart kitchen appliance market is expected to reach US$ 15,358.9 million by 2028 from US$ 4,955.1 million in 2021; it is estimated to grow at a CAGR of 17.5% from 2021 to 2028. A few of the major factors contributing to the market growth include cost-effectiveness and communication ability of smart kitchen appliances, and availability of superior internet connectivity across Europe. However, vulnerability to cyber-crimes and higher upfront costs restrict the market growth.

Smart kitchen appliances are recent technologies that are gaining prominence in developed countries. According to the Cisco Internet Report, connected homes will hold a share of 48% across all the Internet of Things (IoT) applications. The use of smart lighting, smart locks, and thermostats is prominent in Europe region. Smart kitchen appliances benefit end users through cost-effectiveness, communication ability, and safety and convenience. The initial investments toward the procurement of smart kitchen appliances are on the higher side; however, in the long run, these appliances help customers reduce costs associated with periodic maintenance and energy consumption. The traditional or modern electronics or electrical appliances conserve less energy; however, they require periodic maintenance, incurring high costs. The integration of sensor technologies in smart kitchen appliances enables the devices to sense the performance and alert the owners in case of any faults. This factor reduces the repetitive costs. LG ThinQ is a smartphone application offered by LG Electronics for its smart appliances, which feature self-diagnosis abilities; the diagnosis results can be accessed by end users using the LG ThinQ application. Further, the application provides necessary troubleshooting instructions to users to diagnose problems, which eliminates the need to contact repair personnel for minor problems. Another advantage of smart kitchen appliances is their ability to communicate with each other over wireless networks. Users can also communicate with these appliances through their smartphone applications. As a result, smart technologies enable the owners to control, monitor, and access the appliances remotely. Smart kitchen appliances such as smart ovens allow them to switch off or on the stove from their smartphones. The integration of various sensors and built-in cameras with smart refrigerators also allows the owners to update the shopping list with ease. Smart refrigerators have screens that are used as notepads as well as to check temperature and energy consumption patterns. The owners of smart refrigerators can easily control and manage the refrigerators according to the refrigerator's performance and switch between various modes through smartphones. These advantages of smart refrigerators are propelling their popularity in commercial and residential sectors.

Germany, Belgium, Poland, the UK, and the Netherlands are the worst-hit countries by the COVID-19 pandemic in the region. The UK, Germany, and France have numerous electronic component manufacturers. The emergence of SARS-CoV-2 has impacted the businesses of European electronics manufacturers. For instance, AB Electrolux’s five consumer electronics manufacturing facilities in Italy reported a substantial disruption in supply lines in 2020. Also, limited workforce availability and mandate at manufacturing facilities further slowed down the performance of supply side. However, from the Q1 of 2021, manufacturers started to ramp up the production to their fullest capacities as economies reopened and containment measures were relaxed.

Key Market Segments

Based on product, the Europe smart kitchen appliance market is segmented into smart ovens, smart refrigerators, smart sous vide, smart juicers & blenders, smart cookers & cooking robots, smart cooktops, smart integrated ovens and cooktops, and others. The others segment includes smart dishwashers and smart coffee vending machines. In 2021, the smart refrigerator segment held the largest share of the market, and it is expected to register the highest CAGR during 2021–2028.

Based on end user, the Europe smart kitchen appliance market is segmented into commercials and residential. In 2021, the residential segment held a larger market share. The market for this segment is expected to grow at a faster CAGR during 2021–2028.

Major Sources and Companies Listed

A few of the market players profiled during the study of report on the Europe smart kitchen appliance market are Electrolux AB, BSH Hausgeräte GmbH and GE Appliances.

Reasons to buy the report

• Determine prospective investment areas based on a detailed trend analysis of Europe smart kitchen appliance market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different addictions therapeutics segments in the top spending countries and identify the opportunities offered by each of them.
• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels driving the Europe smart kitchen appliance market, providing a clear picture of future opportunities that will help analyze, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs undertaken by the different countries within the Europe smart kitchen appliance market.

EUROPE SMART KITCHEN APPLIANCE MARKET SEGMENTATION

By Product

• Smart Ovens
• Smart Refrigerators
• Smart Sous Vide
• Smart Juicers & Blenders
• Smart Cookers & Cooking Robots
• Smart Cooktops
• Smart Integrated Ovens & Cooktops
• Others

By Connectivity

• Wi-Fi
• Bluetooth

By End User

• Residential
• Commercial

By Country

• UK
• Germany
• France
• Italy
• Spain
• Russia
• Poland
• Sweden
• Netherlands
• Rest of Europe

Company Profiles

• Electrolux AB
• BSH Hausgeräte GmbH
• GE Appliances
• LG Electronics
• Koninklijke Philips N.V.
• Panasonic Corporation
• Samsung Electronics Co., Ltd.
• Whirlpool Corporation
• Breville Group Limited

Europe Smart Kitchen Appliance Market Strategic Insights

Europe Smart Kitchen Appliance Market Segmentation Analysis

Europe Smart Kitchen Appliance Market Report Highlights

Europe Smart Kitchen Appliance Report Scope

Europe Smart Kitchen Appliance Market Country and Regional Insights