How Has the Smart Cooktop Market Size Evolved in Recent Years?
The smart cooktop market has seen considerable growth due to a variety of factors.
• The market size for intelligent cooktops has seen quick expansion in the previous years. It is projected to move from $1.79 billion in 2024 to $1.99 billion in 2025, marking a compound annual growth rate (CAGR) of 11.5%.
The historical growth has been driven by technology advancements, shifts in consumer lifestyles, an increasing fascination with home automation, globalization, and broader market outreach.
What Are The Predictions for The Smart Cooktop Market in the Coming Years?
The smart cooktop market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the smart cooktop market is anticipated to experience robust growth. The market is projected to rise to $2.87 billion by 2029, with a compound annual growth rate of 9.5%.
Factors contributing to the growth during the projected period include improved safety features, customisation and personalisation possibilities, as well as increased consumer education and awareness. Prominent trends encompass integration with smart home ecosystems, cooking assistance powered by artificial intelligence, seamless connectivity and remote control options, and modular and adaptable designs.
Which Drivers Are Accelerating Growth In The Smart Cooktop Market?
Anticipated growth in the market for smart cooktops is largely due to the escalating demand for smart home applications. Smart home technology involves the use of interconnected gadgets and systems within a house, enhancing various aspects of home life such as convenience, control, and efficiency through automation and remote accessibility. The incorporation of such technology boosts the functionalities of smart cooktops, enabling users to regulate and oversee their cooking activities from afar, thereby promoting convenience and efficiency. For instance, Samsung Electronics Co. Ltd, a South Korean company, conducted a survey in June 2023 involving 1,000 adults which showed that 86% of UK-based home purchasers would consider a smart home for their next acquisition, even if it cost them an excess of $21,685 (£18,000). This clearly indicates the willingness and preference of customers to pay for smart technology. Nearly 40% of Gen Z buyers have expressed a desire for their upcoming property to possess smart home capabilities. Consequently, the expanding demand for smart home integration is aiding in the expansion of the smart cooktop market.
Smart Cooktop Market Driver: Surge in Urbanization Propelling the Growth of the Smart Cooktop Market
What Are The Core Segments Of The Global Smart Cooktop Market?
The smart cooktop market covered in this report is segmented –
1) By Fuel Type: Electric, Gas
2) By Technology: Induction Cooktops, Radiant Cooktops, Gas Cooktops
3) By End-User: Residential, Commercial
4) By Distribution Channel: Online, Offline
Subsegments:
1) By Electric: Induction Cooktops, Radiant Cooktops, Ceramic Cooktops
2) By Gas: Natural Gas Cooktops, Propane Gas Cooktops
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How Are Emerging Trends Reshaping The Dynamics Of The Smart Cooktop Market?
Major corporations in the smart cooktop sector are increasingly focusing on delivering progressive solutions like smart gas stoves, looking to secure an advantage within the market. Smart gas stoves are kitchen tools boasting the latest technology and connectivity features, offering users improved control and monitoring abilities. An example of this innovation can be seen when in December 2023, the consumer electronics firm, Xiaomi Corporation introduced the Mijia Smart Gas Stove S2 - a next-generation smart cooktop. This stove is a blend of sleek design and cutting-edge technology, integrating seamlessly into any contemporary kitchen setup. The stove features a matte-tempered glass panel with twin burners, comparable to the luxurious induction cooktops. Its double flame system allows for uniform heating of pots and pans, offering accurate temperature control up to 230°C. It further has a dual timer, which can be set from anywhere between 1 minute to 3 hours and adds to safety and convenience by automatically shutting off the gas supply once the timer runs out.
Who Are the Key Players In The Smart Cooktop Market?
Major companies operating in the smart cooktop market are:
• Samsung Electronics Co. Ltd.
• Siemens Home Appliances
• LG Electronics Inc.
• Panasonic Corporation
• Whirlpool Corporation
• Bosch Home Appliances
• Electrolux AB
• Miele & Cie. KG
• GE Appliances
• Fisher & Paykel Appliances
• Garland Commercial Industries LLC
• KitchenAid Inc.
• Teka Group
• Montague Company
• Viking Range LLC
• AGA Rangemaster Group Ltd.
• BlueStar Cooking
• Dacor Inc.
• Smeg S.p.A.
• Hestan Commercial Corporation
• Fulgor Milano
• ILVE S.p.A.
• Kenmore Appliances
• Bertazzoni S.p.A.
• La Cornue S.A.
• Wolf Appliances
What Are The Regional Insights Into The Smart Cooktop Market?
North America was the largest region in the smart cooktop market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart cooktop market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
