Intelligent living: Smart Kitchen
Movement restrictions and social distancing rules have led to more time spent at home. This boosted the demand of smart home devices, especially kitchen appliances.
Consumers are purchasing appliances which make their lives easier, such smart refrigerators with a camera and touch-screen, and smart multi-function cookers. The global smart kitchen market size is valued at US$14.47 billion in 2019 and is expected to grow at 18.7% a year to hit over US$45 billion by 2027.
One reason for this huge projected growth is the increasing disposable income of consumers from developing economies. Investment in R&D, Internet of Things (IoT), artificial intelligence (AI) and the growing preference for energy efficiency are also some of the driving factors of the growth.
How can smart home device manufacturers integrate their products to offer consumers complete home solutions?
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