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Sustainability and energy efficiency are becoming increasingly important in the IoT kitchen system industry as consumers and businesses alike prioritize environmental responsibility. Manufacturers are creating smart kitchen gadgets and systems that use less energy, rely on renewable resources, and lower waste generation. These innovations include smart refrigerators that optimize temperature settings to save energy, sensor-equipped taps that use less water, and connected appliances that can be managed remotely to avoid wasting electricity. IoT-enabled kitchen systems can also track energy consumption in real-time and offer consumers information to help them make more sustainable decisions.
By incorporating sustainability and energy efficiency elements into IoT kitchen systems, manufacturers may appeal to environmentally concerned customers while contributing to the global movement toward cutting carbon emissions and saving resources. For instance, in January 2024, LG Electronics announced its new eco-friendly and AI-powered kitchen appliances line for optimized energy consumption and sustainable practices. The LG InstaView ThinQ Refrigerator with AI door sensing features a transparent panel that allows users to see inside without opening the door, reducing unnecessary cold air loss and energy consumption. AI Door Sensing technology can learn user habits and suggest optimal opening durations, further minimizing energy waste.
Advancements in connectivity and seamless integration are transforming the internet of things kitchen system market, enabling enhanced convenience, efficiency, and functionality for users. Manufacturers are developing interconnected kitchen appliances and devices that seamlessly communicate with each other, as well as with smartphones, tablets, and other smart devices. This allows for remote monitoring and control of kitchen operations, such as preheating ovens, adjusting cooking settings, or checking inventory levels, from anywhere with internet access.
Smart home hubs act as central controllers, connecting various smart devices and enabling communication between them. This allows for unified control of kitchen appliances alongside other smart home elements including lighting, thermostats, and security systems. Integration with virtual assistants, such as Amazon Alexa, Apple Home Kit, and Google Assistant, provide a standardized interface for users to interact with their connected devices, offering seamless control and automation across different brands and ecosystems.
The commercial kitchen segment recorded over 40% market share in 2023, due to its unique requirements for efficiency, productivity, and cost-effectiveness.
North America market held over 30% revenue share in 2023, attributed to consumers increasingly seeking solutions that simplify their lives and save time in the region.
The market size of IoT kitchen system reached USD 20 billion in 2023 and is set to witness 15% CAGR from 2024 to 2032, owing to the rising consumer demand for convenience, personalization, and automation in the culinary space worldwide.
Samsung Electronics Co., Ltd., Panasonic Corporation, LG Electronics Inc., The Middleby Corporation, Electrolux AB, Whirlpool Corporation, and Haier Group, are some of the major IoT kitchen system companies worldwide.