Market revenue in 2022 | USD 15,677.8 million |
Market revenue in 2030 | USD 60,199.4 million |
Growth rate | 18.3% (CAGR from 2022 to 2030) |
Largest segment | Smart refrigerators |
Fastest growing segment | Smart Cookware & Cooktops |
Historical data covered | 2017 - 2021 |
Base year for estimation | 2022 |
Forecast period covered | 2023 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Smart Refrigerators, Smart Cookware & Cooktops, Smart Dishwashers, Smart Ovens, Other Appliances |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart kitchen appliances market will help companies and investors design strategic landscapes.
smart refrigerators was the largest segment with a revenue share of 33.73% in 2022. Horizon Databook has segmented the Global smart kitchen appliances market based on smart refrigerators, smart cookware & cooktops, smart dishwashers, smart ovens, other appliances covering the revenue growth of each sub-segment from 2017 to 2030.
Consumers are increasingly investing in home improvement or home remodeling projects to update their traditional household structure as a result of increased expenditures associated with housing prices and mortgage rates. Rising home values have doubled homeowner equity from 2014 to 2019.
Although the COVID-19 pandemic resulted in a temporary slowdown in April 2020, home prices have been preserved and have, in fact, thrived due to record-low mortgage rates and inventory across the U.S. According to a CoreLogic report, U.S. homeowners gained USD 9,800 at the end of Q2 2020, an increase of 6.6% year-over-year.
The growing home values have doubled homeowner equity, indicating a trend of homeowners feeling richer and more disposed toward spending on home improvement projects. According to Houzz, an online home remodeling platform, project leads for home professionals reported a 58% uptick as of June 2020, compared to the same period in 2019.
Horizon Databook provides a detailed overview of global-level data and insights on the Global smart kitchen appliances market , including forecasts for subscribers. This global databook contains high-level insights into Global smart kitchen appliances market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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