$4.3 Billion Worldwide Smart Kitchen Industry to 2027 – Impact of COVID-19 on the Market – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–Feb 3, 2021–
The "Smart Kitchen – Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com’s offering.
The publisher brings years of research experience to the 8th edition of this report. The 116-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Smart Kitchen Market to Reach $103.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Smart Kitchen estimated at US$4.3 Billion in the year 2020, is projected to reach a revised size of US$103.9 Billion by 2027, growing at a CAGR of 57.8% over the analysis period 2020-2027.
Smart Refrigerators, one of the segments analyzed in the report, is projected to record a 61.4% CAGR and reach US$63 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Smart Cookware & Cooktops segment is readjusted to a revised 58.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 54.7% CAGR
The Smart Kitchen market in the U.S. is estimated at US$1.3 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$16.1 Billion by the year 2027 trailing a CAGR of 54.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 52.2% and 48.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 38.2% CAGR.
Smart Dishwashers Segment to Record 51.3% CAGR
In the global Smart Dishwashers segment, USA, Canada, Japan, China and Europe will drive the 51.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$752.6 Million in the year 2020 will reach a projected size of US$13.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.7 Billion by the year 2027.
Competitors identified in this market include, among others:

  • Dacor, Inc.
  • Electrolux AB
  • GE Appliances
  • Haier Group
  • LG Electronics Inc.
  • MIRC Electronics Ltd. (Onida)
  • Samsung Electronics Co., Ltd.
  • Sectorqube Inc.
  • Whirlpool Corporation

Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW

  • Global Competitor Market Shares
  • Smart Kitchen Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION

  • Total Companies Profiled: 46

For more information about this report visit https://www.researchandmarkets.com/r/i2xxce
View source version on businesswire.com:https://www.businesswire.com/news/home/20210203005613/en/
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KEYWORD:
INDUSTRY KEYWORD: HOME GOODS RETAIL OTHER TECHNOLOGY TECHNOLOGY SPECIALTY
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 02/03/2021 09:38 AM/DISC: 02/03/2021 09:38 AM
http://www.businesswire.com/news/home/20210203005613/en