Increase in Internet Penetration to Provide Growth Opportunities for Smart Kitchen Appliance Market During 2020-2028

According to our latest market study on "Smart Kitchen Appliance Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, End User, Connectivity, and Geography," the market was valued at US$ 13,786.0 million in 2020 and is projected to reach US$ 47,071.2 million by 2028; it is expected to grow at a CAGR of 17.4% from 2020 to 2028.

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Surge in Internet Penetration
In recent years, several developed countries in North America and Europe have witnessed the growth in the adoption of smart kitchen appliances, which is majorly attributed to the significant rise in the internet of things (IoT). The availability of better internet infrastructure in the regions mentioned above has enabled end users to procure smart kitchen appliances. Similarly, Asia Pacific is also witnessing staggering growth in internet penetration due to advancements in internet infrastructure.

Companies Mentioned are: Electrolux AB; BSH Hausgeräte GmbH; GE Appliances; LG Electronics; Koninklijke Philips N.V.; Panasonic Corporation; Samsung Electronics Co., Ltd; Breville Group Limited; Whirlpool Corporation; and Vita-Mix Corporation

Cost-Effectiveness and Communication Ability of Smart Kitchen Appliances
Smart kitchen appliances are recently innovated technologies that are gaining prominence substantially in developed and developing nations. According to the Cisco Internet Report, connected homes will hold a share of 48% across all Internet of Things (IoT) applications. Smart kitchen appliances offer several benefits such as cost-effectiveness, communication ability, safety, and convenience to the owners, thereby gaining traction among end users.

The initial investments toward the procurement of smart kitchen appliance are on the higher side. However, these appliances help customers reduce recurring costs associated with periodic maintenance and energy consumption in the long run. Traditional or modern electronics or electrical appliances conserve less energy but require periodic maintenance and incur high costs. The integration of sensor technologies in smart kitchen appliances enables the devices to sense the performance and alert the owners in case of any faults. This factor reduces repetitive costs. For instance, LG ThinQ is a smartphone application offered by LG Electronics for its smart appliances. The smart appliances are powered by self-diagnosis features, and diagnosis results can be accessed by end users using LG ThinQ application. Further, the application provides necessary troubleshooting instruction to users to diagnose problems, which eliminates the need to contact repair personnel for minor issues. The reduction in recurring expenses is facilitating several end users to procure these smart kitchen appliances.

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GLOBAL SMART KITCHEN APPLIANCE - MARKET SEGMENTATION
Smart Kitchen Appliance Market - By Product
Smart Ovens,
Smart Refrigerators,
Smart Sous Vide,
Smart Juicers & Blenders,
Smart Cooker & Cooking Robots,
Smart Cooktops,
Smart & Integrated Ovens & Cooktops, and
Others

Smart Kitchen Appliance Market - by End User
Commercial and
Residential), and

Smart Kitchen Appliance Market - By Connectivity
Wi-Fi and
Bluetooth

Global Smart Kitchen Appliance Market by Region
North America
Europe
Asia Pacific
Middle East and Africa
South America

Moreover, key companies contributing to Fiber Laser market valuation are studied thoroughly. The study entails a list of these companies along with exhaustive information regarding their offerings, strategic decisions such as partnerships, product launches, mergers & acquisitions and SWOT analysis.

Table of Content
1. Introduction
1.1 Scope of the Study
1.2 The Insight partners research report guidance
1.3 Market segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Smart Kitchen Appliance Market landscape
4.1 market overview
4.2 Ecosystem Analysis
4.3 pest analysis
4.4 Expert Opinion
4.5 Volume Analysis
5. Smart Kitchen Appliances Market - Key Industry Dynamics
5.1 Key Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact Analysis Of Drivers And Restraints
6. Smart Kitchen Appliance - Global Market Analysis
6.1 Global Smart Kitchen Appliance Market Overview
6.2 Global Smart Kitchen Appliance Market Revenue Forecast and Analysis
6.3 Global Smart Kitchen Appliance Market Revenue and Forecasts to 2028 (US$ Mn)
6.4 Market Positioning - Global Top 5 Players Ranking
………Continued

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Sameer Joshi
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.