Smart Kitchen Appliance Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025
Technavio has been monitoring the smart kitchen appliance market and it is expected to grow by $ 9.40 bn, accelerating at a CAGR of almost 13% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Smart Kitchen Appliance Market: Key Trends to impact market growth
The increased adoption of modular kitchens is positively impacting the smart kitchen appliance market. The adoption of modular kitchens is growing rapidly because of the improvements in living standards and rising expenditure on household infrastructure. Customers prefer smart kitchen appliances that require minimal space and provide an attractive look to their modular kitchen. All these comprise the leading trends in the smart kitchen appliance market. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Smart Kitchen Appliance Market: Top Drivers to Boost Demand
Growing demand for premium, innovative appliances is one of the primary factors driving the growth of the smart kitchen appliance market. innovative and smart kitchen appliances are eco-friendly, possess a user-friendly interface, and are energy-efficient.The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: AB Electrolux, Breville USA Inc. and Haier Smart Home Co. Ltd. are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AB Electrolux, Breville USA Inc., Haier Smart Home Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Miele & Cie. KG, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sub-Zero Group Inc., and Whirlpool Corp. are some of the major market participants.
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Smart Kitchen Appliance Market: Key Highlights of the Report for 2021-2025