Globally, rising per capita income and an increase in the number of middle-income families can be attributed to rising energy demand, notably in nations like China and India. The rising expense of fossil fuels is forcing people to conserve energy in order to keep their finances in check. Consumers all across the world are becoming more interested in energy-efficient smart kitchen equipment that can cut energy usage and save money on electricity bills.
Governments are also supporting the use of energy-efficient smart kitchen appliances as public awareness of climate change and energy conservation grows. The market for energy-efficient smart kitchen appliances is expected to develop in the following decade due to rising demand, high disposable income, and favourable regional legislation.
Smart Kitchen Appliances Market: Key Takeaways
- In the future years, smart refrigerators are expected to sell in large numbers.
- Due to the rise of high disposable and middle-income households over the last half-decade, the residential sector has been the fastest-growing category among the applications.
- In 2021 and beyond, the North American region is expected to dominate sales revenue.
- Sales of smart kitchen appliances are predicted to increase dramatically in Asia Pacific by 2031.
- Demand for smart kitchen appliances was affected in 2020 because to the COVID-19 issue, which experienced a drop. However, with the introduction of voice-activated smart kitchen equipment, demand is projected to increase.
According to a Fact.MR analyst, “high spending on innovation and IoT technologies will boost demand growth for smart kitchen equipment in the next years.”
How is Rapid Digitization Paving Way for Smart Kitchen Appliances?
Smart kitchen appliances are gadgets that can be operated remotely via tablets or smartphones and are becoming increasingly popular in both the commercial and residential sectors around the world. Intelligent sensors, security features, and convenience are all factors driving interest in smart kitchen appliances. Demand for smart kitchen appliances is also being driven by the growing trend of smart houses with modular kitchens.
Furthermore, technical improvements such as IoT-enabled smart kitchen products, such as AI-enabled refrigerators, combined with high disposable income, particularly in North America, have given the market the crucial boost. Smart kitchen equipment are becoming more popular as people’s lifestyles change, their schedules become busier, and their kitchen efficiency improves.
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