The use of smart kitchen appliances has become common in the commercial and household sectors in recent years. These appliances have turned the kitchen into a safe and comfortable environment by using IoT and artificial intelligence. The lack of skillful professionals for repair and maintenance and the high price of these accessories have made the market face limitations, especially in the commercial sector, but in the coming years this market is expected to encounter ideal growth conditions.
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Market / Industry segment of smart kitchen appliances
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2019 | 9.87 | 8 | 19.10% | Grand view research |
| 2019 | 2.72 | 8 | 25.50% | Transparency market research |
| 2019 | 1.37 | 7 | 28.03% | Verified market research |
| 2018 | 0.982 | 8 | 29.10% | Big market research |
| 2017 | 0.896 | 8 | 23.40% | Research and market |
Influencing factors that changes market size of smart kitchen appliances
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of smart kitchen appliances
Direct drivers:
- Advancement and acceptance of IOT and artificial intelligence
- Increase of surplus income
- Millennials and Generation Z community
Reverse drivers:
- High price and cost
- Cyber attacks
- Lack of specialists for smart home appliance repair
Your startup has crossed Death Valley, and it has had at least 2 funding rounds? Discounted Cash Flows (DCF)
Your startup has had at least one funding round, you are advised to use Multiples method for valuation.
Your startup is at pre-seed and seed funding rounds, you are advised to use the Score Cards Method, Risk Factors Summation method to value your startup.
The following risks may threaten this market.
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of smart kitchen appliances may also be threatened by following risks:
- Technology risk
- Manufacturing risk
- Stage of business
- Funding risk
