Smart Kitchen Appliances Market to Reach US$ 2.2 Bn by 2026-End, Europe to Reign Supreme

ALBANY, USA, 2018-May-18 — /EPR Network/ —A new research study highlighting the future prospects of smart kitchen appliances market has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the report titled “Smart Kitchen Appliances Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2026)”, the global smart kitchen appliances market is likely to reach a valuation of over US$ 2.2 Bn by the end of the forecast period.

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The research study offers in-depth analysis and insights on the key factors that are driving the growth of the market. According to the report, demand for smart kitchen appliances is growing on account of growing emphasis on energy efficiency, convenience, and integration of technology. Growing awareness on the benefits of smart kitchen in reducing wastages and boosting power consumption are among the key factors driving the growth of the market.

The outlook on the smart appliances market remains positive, but high cost of smart kitchen appliances vis-à-vis conventional appliances is likely to impede adoption during the assessment period.

The report offers in-depth segment-wise analysis and insights on the smart kitchen appliances market. The report has segmented the market on the basis of region, components, connectivity technology, and appliances. By region, Europe continues to be the leading market for smart kitchen appliances. According to the report, relatively higher awareness among end-users on the benefits of smart kitchen appliances in Europe is one of the key factors for the growth of the market in the region.

On the basis of components, demand for hardware and software is likely to remain high during the assessment period. The software segment is likely to grow at the highest CAGR during the assessment period, whereas the hardware segment is likely to reach a valuation of nearly US$ 917 Mn by the end of the forecast period.

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By appliances, demand for smart ovens is likely to remain resurgent during the forecast period. This segment is likely to witness a high CAGR during the assessment period.

In addition to segment-wise analysis, the research study also offers in-depth analysis on the key players operating in the region. According to the research study, leading market participants are focusing on launching novel and affordable products in the market to consolidate their position. Some of the leading players profiled in the business intelligence study include Dacor, SectorQube, Onida, General Electric Co., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Haier Group, Panasonic Corporation, AB Electrolux, LG Electronics and Whirlpool Corporation.

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