A smart kettle is a kettle that connects to an application in smart phone and allows the kettle to command the temperature at which the water is boiled. The smart kettle allows the consumer to turn on/off kettle from anywhere and essentially saves time. This smart kettle offers many functions such as scheduling the time, allowing the user to measure the water currently in kettle, precise temperature control and real time update of smart kettle. The smart kettle offers convenience in operating and is efficient to use.
The market for smart kettle is anticipated to record a significant CAGR of around 19% during the forecast period, 2020-2028. The major key factors driving the growth of the market include rising penetration of internet of things along with the voice enabled devices. The surge in demand for smart home appliances is the driving demand for variety of kitchen appliances that allows user to connect the electronic devices. One of the popular smart kitchen appliances is smart kettle that comes with advanced features such as wireless communication and intelligent sensors, which in turn, is driving the growth of the market. Further, the rapid upgradations in the technology along with the rising disposable income of consumers are estimated to boost the growth of the market over the forecast period.
On the basis of communication protocol, the market for smart kettle is segmented into Bluetooth, Wi-Fi, voice enabled and others, out of which, the Wi-Fi segment is anticipated to account for the largest share in the market on the back of introduction of internet of things for smart kettles along the rising popularity of Wi-Fi among consumers. Further, Wi-Fi allows easy integration of smart kettles with operating systems such as android and iOS, which offers convenience to consumers and reduces electricity consumption.
Moreover, with IoT environment, smart kettles allow remote controlling access along with voice assisted operations. Moreover, Bluetooth segment is estimated to witness notable growth owing to the new innovations along with its features such as setting of brewing temperature, updates regarding heated water and other features. Hence, these factors are anticipated to drive the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
The popularity of smart kettles among consumes is rising on the back of growth in kitchen appliances industry and changing consumer preferences for energy saving advancements. In addition, the increasing working population and growing trend of virtual kitchens is driving the growth of the market. The technological upgradations make it easier for consumers to control these smart kettles through smart phones. Further, introduction of digital assistant applications such as Amazon echo and improved security & intelligent sensors are increasing the demand for smart kettles. Moreover, in order to save energy, the government is taking initiatives for eco-friendly smart kettles, which in turn, is accelerating the growth of the market. Therefore, these reasons along with the introduction of various aesthetic designs and the user-friendly interface of smart kettles are anticipated to fuel the market growth over the forecast period.
The aesthetic designing of smart kettles along with the adoption of advanced technologies is making it highly expensive. Further, spending of huge amount of money to develop these smart kettles and high maintenance costs are hampering the demand for smart kettles. Moreover, lack of understanding regarding the benefits of smart kettles over the electric kettles along with the lack of awareness about smart kettles in developing or under-developed countries is expected to hamper the market growth during the forecast period.
Our in-depth analysis of smart kettle market includes the following segments:
On the basis of regional analysis, the smart kettle market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific for smart kettles is estimated to dominate the region on the back of changing lifestyles and healthy economic growth. Further, presence of fastest growing economies such as India and China are increasing the penetration of smart technologies such as artificial intelligence and voice enabled services in the region. In addition, China offers several smart home appliances owing to the presence of large number of manufacturers in the region which is driving the demand for smart kettles. Moreover, better infrastructural facilities along with the rising consumer spending on kitchen appliances will boost the growth of the market. The regions in North America and Europe are anticipated to witness significant growth in the market on the account of presence of developed economies and rising government initiatives for eco-friendly devices along with increased adoption of smart appliances.
The smart kettle market is further classified on the basis of region as follows:
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