Global Smart Kettle Market - 2022-2029

Global Smart Kettle Market - 2022-2029

Market Overview

Smart kettles are essentially water heaters that can be programmed for different temperature settings or have the ability to schedule operations. With most smart gadgets, usually has Wi-Fi integration is included. The smart kettle can be referred as smart kitchen appliance of the next generation that arises with improved features for transmitting and connecting information, utilizing technologies like Wi-Fi, and others. In addition, the smart kettle comes with developed technologies that support the customer to manage it through a smartphone from any corner of the house. Also, it comes with temperature selector, and it can also be monitored through the smartphone utilize the voice technology.

The global smart kettle market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 12.56% during the forecast period (2022-2029).

Market Dynamics: The surge in demand for technology driven appliances and consistent launch of products is driving the growth of global smart kettle market

The growth in demand for technology driven appliances, led to the advancements and innovations in the market which helps the market to grow in coming years. In addition, the growing use of internet and increasing reliability on technology is increasing the demand for smart kettles.

Furthermore, the new launch of products is considered as the improvements and advancements of the products which add to the growth of the market. The consistently increased use of internet is strongest factor that is increasing the demand for smart kettles and thus helps the market to grow. In addition, the increased use of technologically advanced appliances in kitchen is also adding to the growth of the market. For instance, in 2022, Chunli Zhang launched the Weekett smart kettle with help from Business Gateway.

Thus, the growing trend of internet of things, made the products more convenient and reliable which ultimately led the emergence of appliances in the kitchen and other places which adds to the growth of the market.

Market Segmentation: Wi-Fi stands for the highest share in global smart kettle market

In 2021, Wi-Fi segment dominated the market and accounted for YY share of the global revenue. Innovation in smart technologies and the introduction of IoT for smart kettles with Wi-Fi are gaining popularity among consumers, thus driving the demand for the segment. This type of kettle can be easily integrated with operating systems like Android and iOS using the mobile app, which is convenient and helps save time. Wi-Fi is the fastest-growing segment in the market. Increasing penetration of smart kettles with IoT-enabled devices and voice-assisted operations like on/off and setting alarms are among the prominent factors leading to rapid segment growth. For instance, according to next.tech.com, in the year 2019, there were more than 26 billion devices connected to IoT, and by the end of the year 2020, there were a total reach of 31 billion devices connected to IoT.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of YY percent. North America is anticipated to witness significant growth over coming years due to increasing adoption of advanced technologies such as IoT (Internet of Things) and AI (Artificial Intelligence) in countries such as U.S., Canada, and Mexico. Moreover, growing demand for premium products with added features will support regional growth. In addition, the rising product penetration due to consumer awareness regarding energy conservation measures taken by manufacturers coupled with high purchasing power parity among consumers there compared with other regions will drive this industry further. For instance, according to IoT business News, North America was the fastest-growing region in 2021 (+24.1%), and process manufacturing was the fastest-growing segment (+25%).

Competitive Landscape:

The global smart kettle market is competitive and comprises players such as Apple Inc, Breville USA Inc, BRG Appliances Limited, Smartco Group Inc., Allgemeine Elektricitäts-Gesellschaft AG, Auroma Brewing Company, Epica Kettle, Midea Group, Smart Food Scale and Conagra Brands among others. The smart kettle market competitiveness is estimated to increase over the forecast period as the key players and focus on various strategies such as strong online presence, collaborations, technological advancements, new product launches, partnerships and others. Moreover, growing use of internet and technologically advanced products will propel the market growth in coming years.

For instance,
• In August 2020, Edinburgh Firm launched Smart WiFi Kettle which allows the users to start boiling and controlling its temperature remotely via a mobile app or ‘smart speakers’.

COVID-19 Impact: Negative impact on global smart kettle market

The COVID-19 pandemic has adversely affected the economies of various countries due to lockdowns, restrictions of import-exports, business close, and travel bans. FMCG is among the major industries suffered from intense disruptions such as restrictions on the supply chain and the shutdown of warehouse plants. The production of smart kettle has been abruptly shut down due to which the product become stagnant for a while that impacted the market negatively. Furthermore, due to the disruption in supply chain of existing products, the revenue of the market had declined. Thus, owing to these factors the covid-19 pandemic has negatively impacted the smart kettle market, however, the manufacturers are coping up with the situation and making the production and transport in line.

The global smart kettle market report would provide an access to approximately 61 market data tables, 53 figures and 170 pages