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Global Smart Kitchen Market 2016-2020

  • Published: Feb 2016
  • Pages: 35
  • SKU: IRTNTR8815
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The global smart kitchen market report provides an analysis of the market by product (smart refrigerators, smart cookware and cooktops, smart dishwasher, and others). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The report also provides an analysis of the market’s competitive landscape and offers information on several companies including Dacor, Electrolux, GE, Haier, LG, SectorQube, Onida, Samsung, and Whirlpool.

The infographic below contains key findings from our analysis of the smart kitchen market   

 

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See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.   

 

Market overview of smart kitchens

Technavio’s smart kitchen market research report predicts the global smart kitchen market to grow at a tremendous CAGR of more than 63% during the forecast period. The energy efficiency of smart kitchen appliances has been a key growth driver for this market. Compared to traditional appliances, smart kitchen appliances consume less energy, as these are capable of providing continuous feedback to the user on energy consumption. Once the user gets to know the energy required to dry clothes in a dryer, they can decide the amount of load the dryer can take to dry a particular set of clothes. Even a refrigerator can automatically switch off by informing the owner.

The increase in diversity of IoT standards is another smart kitchen market trend that will impel market growth by 2020. AllJoyn is an open-source platform that enables companies and enterprises to create interoperable products. It also provides a common platform for devices and apps to communicate with one another irrespective of brands, categories, and transports. For instance, during 2014, Intel, Samsung, Broadcom, Atmel, and Dell launched the Open Interconnect Consortium, which aimed at developing a standard for interoperability across multiple vertical markets, including smart home and office, followed by automotive, industrial, and health applications. Such growing IoT standards will drive the IoT market as it will provide consumers with interoperable smart products that work regardless of the brand.

 

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Product segmentation and analysis of the smart kitchen market

  • Smart refrigerators
  • Smart cookware and cooktops
  • Smart dishwasher
  • Others

The smart refrigerator segment accounted for more than 46% of the smart kitchen market share during 2015 and is expected to retain its market leadership until the end of 2020. A smart refrigerator keeps track of products stored inside through barcodes or RFID scanning. They can be set to switch off automatically when required by the user, thus helping in power consumption. It was one of the first smart kitchen appliances to be commercialized and, thus, has a high market share. Samsung and LG are the leading smart refrigerator vendors in this segment.

Geographical segmentation and analysis of the smart kitchen market

  • Americas
  • APAC
  • EMEA

During 2015, the Americas dominated the market, accounting for more than 62% of the smart kitchen market share. Rapid technological innovations and changing consumer preferences over the use of electronic devices are some of the major factors contributing to a high demand for smart kitchens in the region. The US accounts for the majority of the global connected devices market due to its implementation of the Green Buildings Act. The Green Buildings Act covers public, private, and non-profit sectors, and aims to enhance the energy efficiency and sustainability of buildings.

Competitive landscape and key vendors

The smart kitchen market is in its nascent stage with no vendors present to provide the whole smart kitchen setup. Due to the high growth potential of this market, many emerging vendors such as Firebox, HAPILABS, Smarter, XYZPrinting, and PicoBrew are expected to enter the market during the forecast period.

The leading vendors in the market are -

  • Dacor
  • Electrolux
  • GE
  • Haier
  • LG
  • SectorQube
  • Onida
  • Samsung
  • Whirlpool

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global smart kitchen market?
  • What are the key market trends impacting the growth of the smart kitchen market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the vendors in the global smart kitchen market?
  • What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the smart kitchen market?

 

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Table of Content

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Market segmentation by product

  • Smart refrigerators
  • Smart cookware and cooktops
  • Smart dishwashers
  • Others

PART 07: Geographical segmentation

  • The smart kitchen market in the Americas
  • The smart kitchen market in EMEA
  • Smart kitchen market in APAC

PART 08: Market drivers

  • Multiple benefits of IoT
  • Government funding for IoT start-ups
  • Energy efficiency of smart kitchen appliances

PART 09: Impact of drivers

PART 10: Market challenges

  • High initial cost of smart kitchen appliances
  • Need for strong Internet connectivity
  • Privacy concerns over data security
  • Change in buyer perception
  • Less awareness about smart kitchen appliances

PART 11: Impact of drivers and challenges

PART 12: Market trends

  • Rise in number of smart homes
  • Emergence of innovative products
  • Increase in diversity in IoT standards

PART 13: Vendor landscape

  • Competitive scenario
  • Vendor landscape

PART 14: Appendix

  • List of abbreviations

PART 15: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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