Global Smart Kitchen Market 2016-2020
Published: Feb 2016 | Pages: 35 | SKU: IRTNTR8815 |
The infographic below contains key findings from our analysis of the smart kitchen market
Want a bigger picture? Try a FREE sample of this report now!
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.
Get more value with Technavio’s subscription platform! Gain easy access to all of Technavio’s reports, along with on-demand services. Try the demo
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?
Want to dial in on a specific region or segment? We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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.
INFORMATION 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
DATA 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
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
- Off-the-shelf research reports
- Reports can be tailored to meet the customer's needs
- Trusted by more than 100 fortune 500 organizations
- Information about the market's key drivers, trends, and challenges
- Parent market analysis
- Every week, 50,000 people visit our subscription platform
- Detailed vendors report with competitive landscape
- Covid-19 impact and recovery analysis
- Data on revenue-generating market segments
- Details on the market shares of various regions
- Five-force market analysis