Report : Europe Smart Kitchen Appliance Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Smart Ovens, Smart Refrigerator, Smart Juicers and Blenders, Smart Cookers and Cooking Robots, Smart Cooktops, Smart Integrated Cooktops and Ovens, Smart Sous Vide, and Others), Connectivity (Wi-Fi, and Bluetooth), and End User (Residential, and Commercial)
The smart refrigerator segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “Europe Smart Kitchen Appliance Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application, Connectivity and Country.” The Europe smart kitchen appliance market is expected to reach US$ 15,358.9 million by 2028 from US$ 4,955.1 million in 2021; it is estimated to grow at a CAGR of 17.5% from 2021 to 2028. The report highlights trends prevailing in the Europe smart kitchen appliance market and the factors driving market along with those that act as hindrances.
Smart kitchen appliances are recent technologies that are gaining prominence in developed countries. According to the Cisco Internet Report, connected homes will hold a share of 48% across all the Internet of Things (IoT) applications. The use of smart lighting, smart locks, and thermostats is prominent in Europe region. Smart kitchen appliances benefit end users through cost-effectiveness, communication ability, and safety and convenience. The initial investments toward the procurement of smart kitchen appliances are on the higher side; however, in the long run, these appliances help customers reduce costs associated with periodic maintenance and energy consumption. The traditional or modern electronics or electrical appliances conserve less energy; however, they require periodic maintenance, incurring high costs. The integration of sensor technologies in smart kitchen appliances enables the devices to sense the performance and alert the owners in case of any faults. This factor reduces the repetitive costs. LG ThinQ is a smartphone application offered by LG Electronics for its smart appliances, which feature self-diagnosis abilities; the diagnosis results can be accessed by end users using the LG ThinQ application. Further, the application provides necessary troubleshooting instructions to users to diagnose problems, which eliminates the need to contact repair personnel for minor problems. Another advantage of smart kitchen appliances is their ability to communicate with each other over wireless networks. Users can also communicate with these appliances through their smartphone applications. As a result, smart technologies enable the owners to control, monitor, and access the appliances remotely. Smart kitchen appliances such as smart ovens allow them to switch off or on the stove from their smartphones. The integration of various sensors and built-in cameras with smart refrigerators also allows the owners to update the shopping list with ease. Smart refrigerators have screens that are used as notepads as well as to check temperature and energy consumption patterns. The owners of smart refrigerators can easily control and manage the refrigerators according to the refrigerator's performance and switch between various modes through smartphones. These advantages of smart refrigerators are propelling their popularity in commercial and residential sectors.
Germany, Belgium, Poland, the UK, and the Netherlands are the worst-hit countries by the COVID-19 pandemic in the region. The UK, Germany, and France have numerous electronic component manufacturers. The emergence of SARS-CoV-2 has impacted the businesses of European electronics manufacturers. For instance, AB Electrolux’s five consumer electronics manufacturing facilities in Italy reported a substantial disruption in supply lines in 2020. Also, limited workforce availability and mandate at manufacturing facilities further slowed down the performance of supply side. However, from the Q1 of 2021, manufacturers started to ramp up the production to their fullest capacities as economies reopened and containment measures were relaxed.
Based on product, the Europe smart kitchen appliance market is segmented into smart ovens, smart refrigerators, smart sous vide, smart juicers and blenders, smart cookers and cooking robots, smart cooktops, smart integrated ovens and cooktops, and others. By end user, the Europe smart kitchen appliance market is segmented into commercials and residential. Geographically, the Europe smart kitchen appliance market is sub-segmented into UK, Germany, France, Italy, Spain, Russia, Poland, Sweden, Netherlands and Rest of Europe.
Electrolux AB, BSH Hausgeräte GmbH, GE Appliances, LG Electronics, Koninklijke Philips N.V., Panasonic Corporation, Samsung Electronics Co., Ltd., Whirlpool Corporation, and Breville Group Limited are among the leading companies operating in the Europe smart kitchen appliance market.
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