Vancouver, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) — The smart kitchen appliances market reached a market size of USD 110.56 Billion in 2020 and is expected to register a steady CAGR over the forecast period, according to recent analysis by Emergen Research. Large and medium sized companies are investing majorly in R&D to develop, design, and enhance product offerings. Major players such as Bosch, Samsung, and LG are changing the way consumers store, prepare, consume, and interact with food, and the way they interact with the kitchen and related appliances. Companies are introducing a wide range of products such as built-in ovens, built-in hobs, coffee makers, steam appliances, thermostats, refrigerators with Wi-Fi modules, electric kettles, washing machines, and many more; these appliances are incorporated with IoT and AI technologies that enables interconnectivity and interoperability.
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With the help of AI technologies, companies have been able to develop devices with in-built sensors, which help users to manage their time more efficiently, and also offers features such as self-monitoring for minimizing energy consumption. Adoption of Wi-Fi-enabled kitchens among residential and commercial end-users has been increasing rapidly, and this is boosting revenue growth of the Wi-Fi segment in countries in developed and developing regions.
Other key factors…