South America Smart Kitchen Appliance Market

Market Introduction

The smart kitchen appliances products encompasses set of consumer kitchen appliances and electronics exclusively designed for commercial and/or residential cooking requirements. The key differentiating factor between the conventional and smart kitchen appliances is that the later utilizes the application of any technology driven solutions or features that facilitates in enhanced consumer experience for its customers compared to the conventional kitchen appliances.

South America Smart Kitchen Appliance Strategic Insights

Strategic insights for the South America Smart Kitchen Appliance provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South America Smart Kitchen Appliance Report Scope

South America Smart Kitchen Appliance Regional Insights

The geographic scope of the South America Smart Kitchen Appliance refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The South America smart kitchen appliance market is expected to reach US$ 956.0 million by 2028 from US$ 355.2 million in 2021; it is estimated to grow at a CAGR of 15.2% from 2021-2028. A few of the major factors contributing to the market growth include cost-effectiveness and communication ability of smart kitchen appliances, and growing internet penetration in kitchen appliances across South America. However, vulnerability to cyber-crimes and higher upfront costs restrict the market growth in this region.

The construction sector is witnessing substantial demand for connected homes equipped with technologically advanced appliances and devices. Developing countries such as Brazil have made interesting strides in smart home developments. The South American market has witnessed substantial growth in the number of smart homes, and the country is expected to experience similar trends in the coming years. The rapid shift in the mindsets of the Brazilian population is heavily impacting the growth of smart home appliances such as smart speakers, smart thermostats, smart lighting, and smart security devices. According to Alarm.org, 57% of Americans admitted that by using smart products, they could save ~30 minutes of their time in a day; ~47% of millennials are already using smart home products. The penetration of these smart devices is opening up the growth avenues for smart kitchen appliances as these appliances are among the necessary household items. Owing to the change in the mindset of the global population, majorly among the people in developed countries and a few developing countries, the smart kitchen appliances market is expected to have a positive outlook in the future. Also, the hospitality industry in various geographies is procuring robotic technologies and connected technologies to enhance customer satisfaction. Smart TVs, voice-controlled rooms, robotic luggage storage, and digital concierge are among the prominent smart hotel technologies. Various hotel management teams are showcasing interest in transforming their kitchens into smart kitchens with the procurement of smart kitchen appliances. The integration of cloud-based technologies and smartphones is enabling hotels and restaurant owners to remotely control and monitor their commercial kitchen appliances.

Brazil has recorded the highest number of COVID-19 cases in SAM, followed by Ecuador, Peru, Chile, and Argentina, respectively. Several electronics manufacturers had to temporarily cease their manufacturing units owing to the enactment of containment measures, and the limited availability of components and raw materials. Further, the manufacturers of various electronic and semiconductor products, including smart kitchen appliances, experienced delays in stipulated timelines. Meanwhile, from the late Q4 of 2021, supply chain operations of consumer electronics in SAM began to stabilize. Hence, despite the COVID-19 pandemic, the region showcased positive demand for advanced consumer electronics in 2020 and 2021.

Key Market Segments

Based on product, the South America 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. The others segment includes smart dishwashers and smart coffee vending machines. In 2021, the smart refrigerator segment held the largest share of the market, and it is further expected to register the highest CAGR from 2021 to 2028.

By end user, the South America smart kitchen appliance market is segmented into commercials and residential. In 2021, the residential segment held a larger share of the market, and it is anticipated register a higher CAGR during 2021–2028.

Major Sources and Companies Listed

A few of the market players profiled during the study of report on the South America smart kitchen appliance market are Electrolux AB, BSH Hausgeräte GmbH, and GE Appliances.

Reasons to buy the report

• Determine prospective investment areas based on a detailed trend analysis of South America smart kitchen appliance market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different addictions therapeutics segments in the top spending countries and identify the opportunities offered by each of them.
• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels driving the South America smart kitchen appliance market, providing a clear picture of future opportunities that will help analyze, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs undertaken by the different countries within the South America smart kitchen appliance market.

SOUTH AMERICA SMART KITCHEN APPLIANCE MARKET SEGMENTATION

By

Product

• Smart Ovens
• Smart Refrigerators
• Smart Sous Vide
• Smart Juicers & Blenders
• Smart Cookers & Cooking Robots
• Smart Cooktops
• Smart Integrated Ovens & Cooktops
• Others

By

Connectivity

• Wi-Fi
• Bluetooth

By End User

• Residential
• Commercial

By Country

• Brazil
• Argentina
• Rest of SAM

Company Profiles

• Electrolux AB
• BSH Hausgeräte GmbH
• GE Appliances
• LG Electronics
• Koninklijke Philips N.V.
• Panasonic Corporation
• Samsung Electronics Co., Ltd.
• Whirlpool Corporation
• Breville Group Limited