Research Nester published a report titled “Smart kettle market- Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the smart kettle market in terms of market segmentation by communication protocol, by operating system type, by power rating type, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for smart kettle is anticipated to record a notable CAGR of around 19% over the forecast period 2020-2028. The increased adoption of internet of things along with the rapid upgradations in the technology is estimated to drive the market growth. Additionally, rising disposable income of consumers is resulting into increased demand for variety of kitchen appliances such as smart kettles. The advanced features of smart kettles such as intelligent sensors along with the rising use of voice enabled devices are accelerating the growth of the market. Based on communication protocol, the market is segmented intoBluetooth, Wi-Fi, voice enabled and others. The market for Wi-Fi is estimated to witness largest market share owing to the rising popularity of Wi-Fi among consumers. Further, easy working of smart kettles with the help of Wi-Fi with operating systems such as iOS and android offers convenience and remote controlling access to consumers. Moreover, Bluetooth segment is anticipated to foresee significant growth in the market on the back of advancements in the features such as updates related to heated water and adjustment of brewing temperature along with various other features.
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Based on the regional analysis, the market for smart kettle is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The Asia Pacific is anticipated to dominate the market owing to the presence of emerging economies such as India and China that offers various smart home appliances along with the healthy economic growth in the region. Further, increased penetration of advanced technologies and better infrastructural facilities are boosting the demand for smart kettles. Moreover, changing lifestyles of the consumers are leading to increased spending on kitchen appliances, which in turn, will accelerate the growth of the market. The market in North America and Europe region is anticipated to witness notable growth owing to the increasing government initiatives for eco-friendly smart appliances along with the presence of matured economies.
Increase in the Popularity of Smart Kettles
The growth in the kitchen appliances industry along with the rising concerns for energy saving advancements is estimated to drive the growth of the market. The rising government initiatives for the adoption of eco- friendly smart kettles and growing trend of virtual kitchen are fostering the demand for smart kettles. Further, user friendly interface of smart kettles along with the development of digital assistant applications allow users to save time and energy. Moreover, launch of creative designs and security & intelligent sensors is estimated to boost the market growth along with the changing preferences of working population.
However, higher cost of smart kettles and lack of awareness regarding smart kettles & its benefits is expected to operate as key restraint into the growth of smart kettle market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the smart kettle market which includes company profiling of Breville Inc. (ASX:BRG), Smarter Applications Limited, Brewista Inc., Xiaomi (HKG:1810), AppKettle, Fellow Industries and Chef’s Choice by EdgeCraft.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the smart kettle market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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