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The smart connected cooking appliances market size is forecast to increase by USD 19.62 billion at a CAGR of 26.58% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market is experiencing significant growth due to the integration of advanced technologies such as Food tracking, Meal planning, Monitoring and control, and Environmental sustainability. Residential and Commercial sectors are increasingly adopting these energy-efficient and AI-enabled appliances, including Cooking equipment like Blenders, Coffee makers, Weighing scales, Tiny appliances, Refrigerators, Ovens, Dishwashers, and Cooktops. Rising costs and home improvement projects, including remodeling tasks in older homes and modern kitchens, are driving the demand for these appliances.
Furthermore, traditional household structures are evolving towards sustainability, with a focus on reducing Food wastage and Energy efficiency. companies are also collaborating with retailers and implementing marketing strategies to boost sales through both online and offline channels. These initiatives aim to cater to consumers' preferences for convenience and eco-friendly cooking solutions, from Appetizers to Desserts, Entrees, Cocktails, and Cooking shows on TV.
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The offline segment was valued at USD 3.93 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The global market for smart connected cooking appliances experienced significant growth in 2023, with North America leading the way due to increasing consumer awareness and favorable infrastructure. Smart connected cooking appliances, including fridges, ovens, cooktops, dishwashers, blenders, coffee makers, and weighing scales, offer features such as food tracking, meal planning, monitoring, and control, reducing food wastage, and promoting environmental sustainability. In North America, the US and Canada are driving the market's growth, with modern kitchens in residential and commercial settings undergoing home improvement and remodeling projects. Additionally, traditional appliances are being replaced with energy-efficient, AI-enabled, and design-conscious smart connected cooking appliances. The trend is expected to continue, with rising costs and the popularity of green buildings further fueling the demand for these appliances during the forecast period. Cooking enthusiasts can now prepare appetizers, desserts, entrees, and cocktails with ease, while cooking shows and TV continue to inspire home cooking.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising innovation in product and technology is the key driver of the market.
Increasing adoption of modular kitchen is the upcoming trend in the market.
The high price of smart connected cooking appliances is a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast , partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The smart kitchen appliances market is experiencing significant growth due to the rising disposable income of tech-savvy homeowners, particularly in single person households, and the increasing popularity of smart homes. Urban population, with their modern lifestyle and rigid work schedules, are increasingly turning to smart home language and technologies to make their kitchens more efficient and convenient. Smart kitchen appliances, such as smart refrigerators, ovens, and dishwashers, are becoming essential components of a connected home. These appliances are equipped with IoT, Bluetooth, and Wi-Fi capabilities, allowing users to control them using digital tools like smartphones and tablets. Smart refrigerators, with inner cameras and AI capabilities, help maintain a hygienic environment by preventing cross contamination and ensuring a nutrient-rich food supply.
Further, the Smart Connected Cooking Appliances market is growing rapidly, driven by tech-savvy homeowners and the increasing demand for smart cookware and cooktops. The integration of the Internet of Things (IoT) enables seamless control and automation of appliances, enhancing convenience and efficiency in the kitchen. E-commerce platforms are playing a key role in providing easy access to these innovative products, with many consumers investing in energy-efficient models that contribute to a healthier lifestyle. Fridges, as part of smart kitchens, offer advanced features like remote monitoring and temperature control. As expenditure on home renovations rises, many homeowners are replacing conventional appliances with smart options to reduce energy consumption and improve overall home functionality. This trend reflects a shift towards more connected, sustainable cooking solutions.
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Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 26.58% |
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Market Growth 2024-2028 |
USD 19.62 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
22.06 |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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