AI Enabled Kitchen Appliances Market is Exhibited to Grow at 25.8% CAGR over the forecast Period 2021-2027, Brandessence Market Research
PUNE, India, March 12, 2021 /PRNewswire/ -- Global AI Enabled Kitchen Appliances Market is Expected to Grow with a CAGR of 25.8% over the Forecast Period. Increasing working population along with technological developments to manufacture more innovative kitchen appliances globally is anticipated to drive the Global AI Enabled Kitchen Appliances Market.
During Covid-19 pandemic, the governments have imposed the movement restrictions around the globe which results in reduced home help & increased self-dependence which resulted in significant rise in demand for the AI enabled kitchen appliances. The growing population with increased working individuals will lead the market growth due to busy life schedule & increased advanced technology adoption.
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AI enabled kitchen appliances are the kitchen devices utilizing technology to communicate with owner or with other appliances remotely using tablet or smartphone. The appliances are equipped with advanced technology to understand the specific requirement of owner or day cycle such as off peak load period, reminder, automatic shutdown, etc. The implementation of automization connects the devices together where ones signal can be understood by other appliance which reduces the human efforts to a great extent. The AI enabled appliances has been in demand due to increasing working population & growing hectic schedule so that individual can do multiple tasks at a time & complete it fast. Voice assistant is emerging technologies where people can use smart devices with help of Alexa, Ok Goggle, Siri to start and stop the equipment from bed.
The decision making of appliance is a result of AI implementation with thinking capability to learn from the environment for controlling the process. The problem with AI enabled kitchen appliances is the cost to the customer which reduces the chances of adoption mostly to developed economy & a certain niche market in developing nations. These appliances can play important role in individual's life with increased productivity by reducing repetitive work & more focused work life to achieved life goals.
News: SpaceMax Family Hub Smart Refrigerator has been Launched in India by Samsung.
On July 13th 2020; Samsung launched its new line of smart series of refrigerator SpaceMax family hub. It comes with the inbuilt camera to take a quick peek inside with multi finger swipe down screen on galaxy phones & people with other phone can use Family Hub app to see inside remotely. It helps in shopping list creation, expiry date labeling & reminder for stocking, Meal planner which analyzes stock & suggest relevant food recipe. It comes with 21.5 inch FHD touch screen with 25 watt speakers for audio & videos for cooking or song.
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Top Companies Who Are Working In AI Enabled Kitchen Appliances Market: LG Electronics, Robert Bosch, Koninklijke Philips N.V., Kenmore, Samsung, GE Appliances, Whirlpool, Panasonic, Electrolux, June Oven, Smarter and others.
Global AI Enabled Kitchen Appliances Market Segmentation:
Global AI enabled kitchen appliances market report is segmented on the basis of product, technology, distribution, end-user and region & country level. Based upon product, global AI enabled kitchen appliances market is classified into refrigerator, ovens, cook tops, & ranges, dishwasher and others. Based upon technology, the market is divided into Wi-Fi, NFC, and bluetooth. Based upon distribution, global AI enabled kitchen appliances market is divided into specialty stores, hypermarkets & supermarkets and online channels. Based upon end-user, the market is divided into residential and commercial.
By Product:
- Refrigerator
- Ovens, Cook tops, & Ranges
- Dishwasher
- Others
By Technology:
- Wi-Fi (Wireless Fidelity)
- NFC (Near Field Communication)
- Bluetooth
By Distribution:
- Specialty Stores
- Hypermarkets & Supermarkets
- Online Channels
By End-User:
- Residential
- Commercial
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Increasing Working Population & Growing Technological Advancements to Manufacture More Innovative Kitchen Appliances are Some of the Major Factors Driving the Market Growth.
The major factor driving the growth of global AI enabled kitchen appliances market is the growing working population globally. The rising working population with higher rate in developing economies is expected to increase the demand for AI enabled kitchen appliances. According to World Bank; working population growth from 2019-20 was 32 million with Asia Pacific more than 12 million. In addition, the growing technological developments in the area of kitchen appliances will help individual in reduced repetitive with fast & easy service will result in increased demand. Furthermore, increasing adoption of technology such as smartphone, and others will provide better efficiency and reduce the working cost and foster the market growth.
However, high cost of the AI enabled kitchen appliances may hinder the market growth. The latest technology is coupled with high cost which makes it limited to niche market. In spite of that, growing use of AI enabled kitchen appliances in the commercial sector such as restaurant where customer service need to be fast & it's easy for restaurant to afford it may create more opportunity for the further growth of the market.
North America is Anticipated to Dominate the Global AI Enabled Kitchen Appliances Market
On the basis of region, the global AI enabled kitchen appliances market is divided into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global AI enabled kitchen appliances market within the forecast period due to early adoption of new technology, high disposable income & lifestyle and increased awareness regarding these products in this region. The region has most working population around the globe which results in increased disposable income with growing independent lifestyle leads to the market growth in this region. According to World Bank; the per capita income for this region is $ 51896 for 2018. In addition, presence of global players such as such as GE, Whirlpool and etc. in this region is also supplementing the market growth.
Asia Pacific is the fastest growing region & anticipated to witness a significant growth in the global AI enabled kitchen appliances market due to its developing economies such as China, India, etc. The developing economies will result in developed infrastructure; increased working population along with rise in disposable income will supplement the market growth in this region.
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