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With the growing interest in the smart home concept, homeowners are increasingly looking at upgrading their kitchens with smart gadgets. Across the world, the US has the biggest market share for most smart kitchen gadgets including smart refrigerators, microwaves and smart display.
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Here are the key smart kitchen gadget statistics for the US in 2020:
Market growth for smart kitchen appliances
According to Grand View Research’s global smart kitchen market report, the market size for smart kitchen appliances in 2019 was worth $ 9.87 billion. The market is expected to grow at a CAGR (compound annual growth rate) of 19.1 percent between 2020 and 2027. The robust growth is attributed to increasing consumer disposable income as well as evolving technological trends particularly related to AI (Artificial Intelligence) and IoT (Internet of Things). In both commercial and residential sectors, smart kitchen appliances are witnessing increasing adoption across the world that is further contributing to smart kitchen appliances’ market growth.
The market size in the US
In the US, the increasing adoption of the smart home concept is fueling the market growth of smart kitchen appliances. A smart home is a setup wherein devices and appliances are automatically controlled remotely from anywhere in the world through an internet-enabled device such as a smartphone. The homeowner can access and control many functions of connected devices such as temperature, security access, home theater or even, the coffee brewer.
Here are some of the key statistics related to the growth of smart homes and, consequently, smart kitchen gadgets in the US.
• Global comparison: US is the key player
Smart home growth is significantly higher in the US as compared to other countries in the world because of the higher penetration of advanced, technology-enabled products. Features such as time-saving, intelligent sensors, connected security, convenience, and energy-saving will contribute towards market growth for smart kitchen gadgets. Statista figures indicate that the maximum revenue for smart homes is generated in the US.
A report from Technavio confirms that the US is the biggest contributor towards the growth of the smart kitchen gadgets market, with a market share of 62 percent.
• Market revenue
According to Statista, the smart home market in the US is forecast to grow at a CAGR of 21.7 percent from 2019 to 2023. The revenue is expected to reach $62.7 billion by 2023. A Mordor Intelligence report highlights that the smart home market in the US was valued at $79.13 billion.
• Household adoption
Household penetration of smart appliances is expected to be 40 percent in 2021 while expanding to 57.2 percent by 2025.
• Smart kitchen gadgets
Increasing focus on kitchen remodeling or renovation to create a modular kitchen is a major factor contributing to fast-paced growth in the smart kitchen appliances market, such as cooktops, cookware, steam ovens, and dishwashers. The rising popularity of voice-controlled devices with digital assistance applications, such as Google Home and Amazon Echo, is further strengthening the smart kitchen gadgets’ market. An NPR study reports that 39 million Americans owned smart speakers in 2018 as part of their connected home environment. The speaker interface enables smart kitchen appliances such as ovens, refrigerators, and coffee machines to be accessed and controlled remotely.
Smart displays, along with built-in cameras, enable video calling from anywhere outside to home. The food network in the US partnered with Amazon to provide on-demand, live cooking classes.
Kitchen appliance manufacturers launched multiple eco-friendly kitchen appliances in 2020 owing to the growing interest and demand for energy efficiency measures and devices. For instance, top manufacturers such as Whirlpool and Samsung increased ENERGY STAR ratings for ovens and refrigerators to boost product penetration in the smart kitchen gadgets market. The 2020 Statista survey shows that 11 percent of US households owned a major smart appliance.
The top smart kitchen gadgets in 2020
Smart dishwashers are growing in popularity as compared to standard versions because of the added features that elevate flexibility and the level of convenience to consumers. The smart appliance is much more efficient and addresses common cleaning issues, including the deposition of food particles on utensils. Enhanced features with wireless connectivity enable consumers to integrate the dishwasher with their smart home design.
Smart dishwashers were one of the most popular appliances in the US in 2020, and the market is expected to grow at13.4 percent CAGR between 2020-2026. Some factors that contribute to this growth include rising income levels of consumers, the convenience of being able to remotely control the dishwasher, and the growing trend of renovating homes and kitchens to include the latest gadgets.
Smart refrigerators accounted for 34.0 percent of the market share in 2019-2020. Consumers prefer smart refrigerators owing to the higher efficiency, convenience, and energy-saving features. Innovation by the manufacturers such as Wi-Fi connectivity, embedded touchscreen display, smart sensors, and climate control zones are leading to the popularity of smart refrigerators. In January 2020, manufacturers such as LG and Samsung and LG added artificial intelligence capabilities to their refrigerators. These smart fridges have AI-equipped internal cameras that identify food, maintain inventory, and alert consumers when they are low on a particular food or ingredient.
The software upgrades in these smart refrigerators include meal planning in partnership with a food tech startup. The software enables users to plan their weekly meals while creating a smart shopping list for the selected recipes.
Smart cooktops and cookware
Smart cooktops and cookware were the major products in the smart appliances segment that boosted the market growth. These appliances, according to the Grand View Research report, will grow at a 20.2 percent CAGR from 2020 to 2027. Increasing penetration in the US of IoT enabled appliances in modern kitchens is a key factor that is fueling growth in this sector.
Instant multicookers with voice assistance and WiFi access gained popularity as users can simply ask Alexa to provide a recipe. The settings can be adjusted using a smartphone app, while users can also check the progress of the food being cooked.
The market in the US for smart coffee makers in 2020 was estimated to be at $50.5 million, while the market is slated to expand by $340.40 million by 2024. With innovative “smart” features, the coffeemaker can be connected to smart home devices such as Google Home and Alexa. The device can then be turned off or on using voice control. Other useful features made the coffee maker one of the most popular smart kitchen appliances in 2020. These include an automatic pause feature, customization of the brew, and automatic detection when the machine is low on coffee beans.
High rates of coffee consumption in the US contribute, along with technological advances, to the market growth of household smart coffeemakers.
The smart microwave market in the US is expected to grow by 17.9 percent between 2020 and 2030. Microwaves already had a penetration rate in the US of 90 percent in 2016, with interest in smart homes, kitchen aesthetics, and smart features contributing to the growth of smart microwaves.
The latest smart microwaves of 2020 work with Alexa, which helps optimize hands-free operation. Users can also leverage the Alexa app to choose from the selection of popcorn right here. The Auto Popcorn Replenishment Service provided by Amazon ensures the consumer does not run out of the favorite treat when it is needed the most. The smart microwave orders popcorn automatically when it detects that the levels of the same are low.
One of the top 2020 smart kitchen gadgets is the smart display device. The compact smart display devices such as Nest Hub Max or Echo Show were loved by consumers for their compact size, connectivity, ease of use, and the solutions they provided. The compact size ensured their perfect fit on any kitchen countertop while the connected device solves the users’ recipe questions. The speakers can also listen to music as the consumer cooks up food or entertains guests. With the hands-free operation, getting help with recipes is not a problem when the hands of the home chef are covered with dressings, dough, or sauces. With built-in video chat and camera functions, consumers can chat with their mom, a friend, or a fellow chef to get more help with the recipe.
The market for smart displays is slated to grow at a CAGR of 32 percent by 2026. The accelerated demand for connected smart devices is a major factor that has encouraged manufacturers to add new features, functionality, higher product utilization, convenience, and greater reliability. According to Statista, there were 9.6 million users of smart display products in the US in 2019-2020.
Digitization and connectivity of living spaces are the rapidly emerging trends in the US of this decade that are influencing the increasing adoption of smart kitchen gadgets. By 2025, IEEE estimates that over 50 billion devices will be connected by the IoT (Internet of Things) thanks to the advent of 5G. Smart and interactive kitchen gadgets and appliances are an integral part of a luxurious, connected, and convenient lifestyle in the US. Many consumers are investing in smart kitchen appliances that take the hassles away from kitchen chores while complementing the kitchen aesthetics.