Market Trends of Europe Smart Cooker Industry
This section covers the major market trends shaping the Europe Smart Cooker Market according to our research experts:
Boom in Smart Homes and Smart Kitchens are Driving the Market
In Europe, smart cookers and kitchen appliances are steadily increasing due to rapid urbanization and customers' busy schedules. Growing consumer awareness about a healthy diet and nutrition is another factor boosting the sector's revenue, particularly during the pandemic. Users can choose a recipe to be cooked at certain temperatures using smart modular kitchens and smart home technologies. In Europe, the household penetration rate increased from 3.8% in 2020 to 6.3% in 2022, which is a fairly significant increase.
Technological Advancement is Supporting the Growth of the Market
Technological advancements, such as near-field communication (NFC), Wi-Fi, and other technologies, are being incorporated into smart kitchen appliances. The Wi-Fi segment had a much higher revenue share in 2021. Remote accessibility enables control of many features, including preheating, temperature regulation, and settling timer. The main reason driving the growth of this market is the rising usage of smart devices, including smartphones, smart locks, smart watches, and smart bands, as well as their interconnection. Built-in ovens, microwaves, and free-standing cookers were all exchanged in 2020 for about USD 12.5 million, USD 6.6 million, and USD 4.9 million, respectively, in Europe.
