Smart Connected Cooking Appliances Market - Segmentation, Forecast, and Analysis by Technavio
September 22 2017 - 12:43PM
Business Wire
According to the latest market study released by Technavio, the
global smart connected cooking appliances market is expected to
grow at a CAGR of close to 20% during the forecast period.
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Technavio has published a new report on
the global smart connected cooking appliances market from
2017-2021. (Graphic: Business Wire)
This research report titled ‘Global Smart Connected Cooking
Appliances Market 2017-2021’ provides an in-depth analysis of the
market in terms of revenue and emerging market trends. This report
also includes an up to date analysis and forecasts for various
market segments and all geographical regions.
This report is available at a USD 1,000 discount for a
limited time only: View market snapshot before purchasing
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The market research analysis categorizes the global smart
connected cooking appliances market into the following product
segments:
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Global smart connected ranges market
In 2016, the smart connected ranges market had a share of over
45% of the global smart connected cooking appliances market. A
range is a combined cooking appliance, which has two parts -
stovetop and oven. Some of the key vendors such as Haier (GE
Appliances), LG Electronics, and SAMSUNG offer smart connected
ranges in their product portfolio. Some of the categories are
involved in the ranges such as electric ranges, gas ranges,
induction ranges, and double oven ranges. With the wireless
technology enabled in these cooking appliances, customers can
monitor and control the oven through their smartphones.
According to Tamal S, a lead home, kitchen,
and large appliances research analyst at Technavio, “The awareness
of smart connected appliances and need for comfortable life is
increasing among consumers, which is driving the adoption of smart
home systems. This, in turn, is likely to fuel the growth of this
segment during the forecast period. Determining the remaining
cooking time and changing the temperatures as per the need are few
of the many advantages of smart connected ranges.”
Global smart connected ovens market
SAMSUNG, LG Electronics, Robert Bosch, Haier (GE Appliances),
June Life, Breville, and Whirlpool offer smart connected ovens.
Through the wireless connectivity, customers can easily connect
these ovens with their smartphones. These ovens can be electric or
can use gas as the fuel.
Although smart connected ovens are expensive, customers adopt
them for their user-friendly and reliable features, which are
absent in the ordinary and traditional ovens. Increasing
digitization in homes has created the desire among customers to
spend on smart connected home appliances. In addition, the growing
Internet of things (IoT) platform will help in the growth of the
global smart connected cooking appliances market. However, many
price-sensitive customers prefer regular ovens, which could be a
major challenge for the market growth. Vendors need to develop
their products in a mid-range category to attract more
customers.
Global other smart connected cooking appliances
market
The other smart connected cooking appliances market considers
smart connected slow cookers, smart connected coffee makers, and
smart connected cooktops. Newell Brands, Behmor, Koninklijke
Philips, SMARTER APPLICATIONS, SAMSUNG, and Robert Bosch provide
these appliances. Newell Brands provides smart connected slow
cookers that can be operated through Wi-Fi connectivity. Some smart
connected cooktops are induction cooktops, gas cooktops, and
electric cooktops. Among these cooktops, induction and electric
cooktops are powered by electricity. Due to the rising safety
concerns and desire for quick heating and cooking, induction
cooktops are gaining popularity in various regions.
“The use of induction cooktops is high among
the European population when compared to the US population. Smart
functions equipped in these types of cooktops provide another level
of convenience and comfort, and hence, attract more customers.
Vendors provide cooktops with smart connectivity, due to this,
customers can easily control and access them remotely from
anywhere,” says Tamal.
The top vendors highlighted by Technavio’s market research
analysts in this report are:
- Haier
- LG Electronics
- Robert Bosch
- SAMSUNG
- Whirlpool
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com