Smart kitchen appliances market size worldwide 2020-2028

The smart kitchen appliance market is forecast to grow between 2020 and 2028. In 2020, the size of this market amounted to around 13.79 billion U.S. dollars, and it is forecast to reach a revenue of over 47 billion U.S. dollars by 2028, grow8ing at a CAGR of 19.2 percent.

Smart kitchen – a growing segment in household appliances

Smart appliances are forecast to make up a more significant share of the overall household appliances market across all product categories in the future. Smart kitchen appliances include appliances and products such as smart refrigerators, smart dishwashers, smart cooking ranges, smart microwaves and ovens, and smart coffee machines. Some forecasts show that the overall global smart kitchen market will pass the 20 billion dollar mark during the 2020s. The growth in the market is driven by increasing smart city funding, leading to an increasing deman for smart kitchen appliances. The need for energy efficient appliances is another growth driver for the segment. Despite the forecasted growth of the smart appliances market, the segment is still relatively small in relation to the overall household appliances market, which will grow to around 450 billion U.S. dollars by 2023.