Smart Kitchen Appliances Market To Reach $60.20 Billion By 2030

Smart Kitchen Appliances Market Growth & Trends

The global smart kitchen appliances market size is expected to reach USD 60.20 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 17.9% from 2024 to 2030. The market's main development drivers include factors like rising demand for smart sensors and energy efficiency, increasing home kitchen renovation and reconstruction, a consumer shift toward making homes more technologically advanced with artificial intelligence (AI) assistance and rising disposable income.

Technological advancements and growing demand for smart homes have been significantly driving the smart kitchen appliances industry growth. For instance, the smart home concept helps detect a leak in the pipes with a detection tool, which triggers an alert if there is a leak with the help of sensor-based technologies installed in the appliances. With the growing number of young people purchasing homes, there has been a gradual shift from traditional kitchen fittings to the adoption of smart kitchen appliances with new technology like touchscreens, voice control, Wi-Fi, sensors, and anti-fingerprint coatings in kitchen appliances. Moreover, the growing popularity of smart homes, which combine elegance and convenience, is driving the demand for smart kitchen appliances.

In addition, smart appliances are not only connected to Wi-Fi or sensor-enabled but are also focused on energy consumption and efficiency through smart meters. For instance, dishwashers with heat pumps consume less energy, such as Winning Appliances, V-ZUG Ltd, and others. These have lately been included in a dishwasher that is sold commercially and is available in the Swiss market. To better manage the electrical grid and reduce the need for backup generators, time-of-use control on some of the larger appliances might be used as a distributed resource.

The materials that are used to make home appliances have changed over time. The two most important developments are the replacement of steel with more plastic and the shift from electronic to mechanical controls. In addition, important trends influence product design, material utilization, and advancements in recycling technologies and procedures, such as appliances becoming smarter, interactive, and frequently multifunctional.

Consumers focus on making the kitchen a focal point in their homes, leading to renovation and decoration in kitchens following current trends and products. Consumers' need for technological advancements, coupled with shifting social dynamics, has fueled the growth of smart kitchen appliances. In addition, the growing culture of avid cooks, seasoned hosts, and busy families encourages consumers to invest in smart kitchen appliances for greater convenience and hassle-free cooking.

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Smart Kitchen Appliances Market Report Highlights

• North America dominated the market in 2023. This is due to growing internet penetration, increasing adoption of smart home devices, and growing need for functionality and convenience in the kitchen

• In terms of product, smart cookware & cooktops segment is projected to register the fastest growth from 2024 to 2030 due to the need for precision cooking, energy efficiency, and integration with smart home systems

• During the forecast period, the commercial application segment of smart kitchen appliances is projected to grow at the fastest CAGR. This is due to the rising need for efficiency and cost-effectiveness in food preparation, leading to streamlined operations and enhanced customer experiences

Smart Kitchen Appliances Market Segmentation

Grand View Research has segmented the global smart kitchen appliances market based on product, application, and region:

Smart Kitchen Appliances Product Outlook (Revenue, USD Million, 2018 - 2030)

• Smart Refrigerators

• Smart Cookware & Cooktops

• Smart Dishwashers

• Smart Ovens

• Other

Smart Kitchen Appliances Application Outlook (Revenue, USD Million, 2018 - 2030)

• Residential

• Commercial

Smart Kitchen Appliances Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Smart Kitchen Appliances Market

• Whirlpool Corporation

• LG Electronics

• Electrolux AB

• Samsung Electronics Co., Ltd.

• Haier Group

• Panasonic Corporation

• BSH Hausgerate GmbH

• Breville

• Miele & Cie. KG

• Dongbu Daewoo Electronics