Smart Kitchen Appliances Market

Industry Insights

[228+ Pages Report] According to Facts & Factors, the global smart kitchen appliances market size was worth around USD 18.75 billion in 2023 and is predicted to grow to around USD 82.53 billion by 2032, with a compound annual growth rate (CAGR) of roughly 17.9% between 2024 and 2032.

Market Overview

Smart kitchen appliances are daily-use kitchen devices that are integrated with advanced technologies to improve cooking, kitchen management, and food storage. They comprise ovens, smart refrigerators, coffee makers, and blenders. These appliances can be controlled efficiently through mobile phones or voice assistants like Google Assistant and Alexa.

The global smart kitchen appliances market has witnessed substantial growth in the past years, spurred by the rising demand for convenience, technological advancements, and the increasing integration of IoT in daily-use devices.

A majority of consumers are increasingly adopting appliances that offer convenience and save time. Smart kitchen enables homeowners to remotely control appliances, automate several tasks, and set timetables, thus streamlining multiple tasks for users. The incorporation of AI, IoT, and voice assistants in kitchen devices helps users control numerous tasks in their comfort at home. This enhances connectivity and results in more efficient and intuitive appliances.

Furthermore, the increasing spending power of consumers on convenience and comfort products is propelling the demand for smart kitchen appliances.

Nonetheless, the global smart kitchen appliances industry is also witnessing a few barriers due to the complexity of use and security & privacy issues.

Along with the convenience offered by the kitchen appliances, installation and operational complexity are some major concerns, mainly for the less-tech-savvy homeowners. This could majorly slow down the adoption of these appliances and hamper the industry's growth. Moreover, since these appliances are linked to the internet, the concerns for data security and privacy are also rising.

Yet, the market is projected to experience a boost owing to the expanding smart home market. The smart home market is widely progressing as more consumers are adopting smart kitchen appliances that can be easily integrated into connected home networks.

Key Insights:

• As per the analysis shared by our research analyst, the global smart kitchen appliances market is estimated to grow annually at a CAGR of around 17.9% over the forecast period (2024-2032)
• In terms of revenue, the global smart kitchen appliances market size was valued at around USD 18.75 billion in 2023 and is projected to reach USD 82.53 billion by 2032.
• The smart kitchen appliances market is projected to grow at a significant rate due to rising trends of sustainability and energy efficiency, growing disposable income, and growing health and wellness trends.
• Based on product type, the smart refrigerators segment is the dominating segment among others, while the smart cookware and cooktops segment is projected to witness sizeable revenue over the estimated period.
• Based on distribution channel, the online segment is expected to lead the market, while the multi-brand stores segment is anticipated to hold a remarkable market share in the next five years.
• Based on end user, the residential segment is expected to lead the market, followed by the commercial segment.
• Based on region, North America is anticipated to dominate the global market over the forecast period, followed by Asia Pacific.

Growth Drivers

• A growing number of technological improvements and the incorporation of IoT propel the industry's growth

The incorporation of IoT, voice assistants in kitchen appliances, and AI has notably improved the convenience and functionality of smart kitchen appliances. These devices or appliances can be automated, controlled, and optimized remotely, as per user preferences.

In 2024, Whirlpool, a prominent smart appliance maker, declared the growth of its linked home products. This comprises ovens, refrigerators, and dishwashers that incorporate intelligent home appliances and can be remotely controlled via smartphone applications.

In addition, Samsung lately, disclosed its fresh line of smart ovens and smart refrigerators that can be easily linked to smart home systems, such as Smart Things. This offers predictive maintenance, enhanced personalization, and energy efficiency.

• The rising use of smart homes and incorporation with connected networks fuel the market growth

The rising adoption of smart home technologies like locks, lights, and thermostats has boosted the adoption of kitchen appliances into home automation systems. This interrelation enables consumers to control their homes via a single platform.

As per reports, nearly 45% of United States households are projected to purchase and install smart home technologies by 2025. This will significantly drive the demand for intelligent kitchen appliances that incorporate home automation technologies.

In 2024, Ring and Amazon launched novel integrations with diverse kitchen brands, enabling consumers to efficiently control refrigerators, ovens, and other devices through voice commands using Ring and Amazon Alexa security cameras.

Moreover, Apple’s HomeKit platform is growing its network, adding several novel kitchen appliances like Wi-Fi-based refrigerators and smart ovens from forerunning brands like Whirlpool. This streamlines the monitoring and controlling of kitchen devices in an incorporated home automation framework for consumers.

Restraints

• Complexity in installation and use hamper the market progress

Despite advanced capabilities and technological improvements, smart kitchen appliances cannot be easily installed, mainly for consumers who lack basic technological knowledge. This complexity may refrain several people, majorly the senior population who choose simplicity over complex smart home appliances.

In January 2024, Amazon updated to Alexa incorporation for kitchen devices and launched more instinctive installation processes for linked devices. This was done in response to user feedback on the intricacy of the installation and configuration of smart kitchen appliances.

Moreover, in 2023, Google stated that its Google Home application got feedback from consumers on challenges in syncing smart devices with home ecosystems. These set-up issues resulted in negative reviews and lowered user satisfaction.

Opportunities

• Integration with AI for more personalized cooking presents major opportunity

The incorporation of artificial intelligence into kitchen appliances denotes a vital opportunity for the smart kitchen appliances industry growth. AI enables these devices to grasp knowledge from user preferences and behavior, offering automation tasks and customized advice.

Artificial intelligence can improve cooking experiences by regulating settings depending on cooking methods, ingredients, and desired results. The key opportunities marked include personalized meal suggestions, predictive maintenance, and health monitoring.

AI can study user preferences, propose recipes depending on the available ingredients, and adjust settings for better results. AI can also monitor the performance of the device and inform users whenever repairs or maintenance are needed. AI-based kitchen appliances can also track nutritional information, assisting users to maintain good health by advising balanced or low-calorie meal choices as per health goals.

Challenges

• Consumer awareness and education is one of the key challenges

A majority of consumers are unaware of the broad range of features and advantages of smart kitchen appliances and how they help in daily life. The complexity of these appliances and low awareness of their functionalities and operations may prevent individuals from purchasing these devices.

Moreover, most people (the senior population) may not correctly understand the time-saving and energy-saving advantages of these devices. Hence, a lack of understanding of the advantages may notably restrain the growth of the smart kitchen appliances market. Most consumers may not know the value of using smart devices that automate cooking, track food inventory, and optimize energy use, resulting in low purchases.

Recently, GE Appliances introduced fresh marketing campaigns to educate users on the advantages of dishwashers and smart refrigerators. Despite efforts by brands, the challenge of convincing users is still prevalent in many areas.

Report Scope

Segmentation Analysis

The global smart kitchen appliances market is segmented based on product type, distribution channel, end-user, and region.

Based on product type, the global smart kitchen appliances market is divided into smart ovens, smart dishwashers, smart refrigerators, smart cookware and cooktops, smart scale and thermometers, and other product types. The smart refrigerators segment held a maximum share of the market owing to efficiency, convenience, and integration with smart home networks.

Smart refrigerators offer characteristics like automatic re-ordering, inventory tracking, and recipe suggestions on the basis of the present ingredients. This reduces the wastage of food and enhances convenience. These refrigerators smoothly incorporate with other smart home appliances, thus offering users added convenience and control via voice assistants and smartphone applications.

Based on distribution channel, the global market is segmented as multi-brand stores, exclusive stores, online, and other distribution channels. The online segment held a notable share of the global smart kitchen appliances industry owing to the growth of e-commerce and shifting consumer trends.

An increasing number of e-commerce platforms like Best Buy, Amazon, and others have shifted consumer inclination towards buying smart kitchen appliances. The reasons for this inclination include easy price comparison, wide product selection, convenience, and home delivery. Moreover, the trend of online shopping and the ability to read product reviews, access products online, and go through detailed comparisons has increased the dominance of online sales.

Based on end-user, the global market is segmented as residential and commercial. The residential segment registered a larger share of the market owing to the rising demand for convenience and the rising adoption of smart homes. Users are actively looking for devices that offer the best convenience, energy-efficient, and time-saving options. Characteristics like personalized cooking experience, remote control, energy tracking, and more appeal to a majority of consumers. Moreover, since more consumers are using smart home solutions, incorporating smart kitchen devices in the home network is gaining popularity.

Regional Analysis

• North America to register majority share during the estimated period

North America held a notable share of the global smart kitchen appliances market in 2023 and is anticipated to continue dominance in the future. The key reasons for this growth include strong consumer demand for efficiency and convenience, rising consumer preference for smart technologies, and increasing investment for improvements.

North American users are actively seeking convenience, energy efficiency, and time-saving solutions, resulting in increased adoption of smart kitchen appliances. They offer features like energy management, remote control, and personalized cooking, thus impacting the market growth.

Furthermore, owing to the high population of tech-savvy consumers, the adoption rate of these smart devices has exceeded significantly. As per Statista, the rate of smart home adoption in the United States is anticipated to reach 69% by 2025, impacting the market growth. Also, with growing spending power, consumers in the region are willingly investing in premium smart products for kitchens.

Asia-Pacific is projected to grow as a second-leading region owing to speedy urbanization, increasing spending power of consumers, and technological improvements and adoption. With the growth of the urban population, the spending power of the middle class also increases. This ultimately increases the demand for convenient appliances like smart kitchen devices.

As per reports, the number of smart homes in the region will increase from 6.4 million to 18.3 million in a period of 5 years. Also, the region has witnessed a surge in the adoption of technology, with the rising number of users availing IoT-based appliances. Most users are early adopters of intelligent technologies, resulting in fierce growth of the smart kitchen appliances industry.

Competitive Analysis

The global smart kitchen appliances market is led by players like:

• Samsung Electronics
• LG Electronics
• Whirlpool Corporation
• Bosch
• GE Appliances (Haier)
• Philips
• Panasonic Corporation
• Miele
• Siemens
• Sharp Corporation
• KitchenAid (Whirlpool)
• Toshiba
• Electrolux
• Instant Brands
• Xiaomi

Key Market Trends

• Growing use of machine learning and AI for personalization:

Several smart kitchen appliances are now integrating machine learning and AI to deeply understand human behavior and preferences. This allows appliances to offer highly personalized cooking advice, improve user convenience, and automatically adjust the settings.

• Smart devices with energy efficiency:

With growing environmental awareness across the globe, the demand for energy-efficient smart appliances is also increasing. Devices like ovens and refrigerators are now available with energy management properties that help users reduce carbon footprint and decrease energy consumption.

The global smart kitchen appliances market is segmented as follows:

 By Product Type Segment Analysis

• Smart Ovens
• Smart Dishwashers
• Smart Refrigerators
• Smart Cookware and Cooktops
• Smart Scale and Thermometers
• Other Product Types

By Distribution Channel Segment Analysis

• Multi-brand Stores
• Exclusive Stores
• Online
• Other Distribution Channels

 By End User Segment Analysis

• Residential
• Commercial

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America