You all mocked the Smart Fridge, but it’s restocking your shelves with Bon Soy even as we speak. The number of connected home appliance shipments is set to reach 202 million globally by 2021, rising from just 17 million in 2016 according to a new study from Juniper Research.
The authors of the study have run the numbers and now say that with the additional cost of including basic connectivity now less than $10, hardware manufacturers would increasingly introduce the functionality into many mass market as well as high-end items including fridges, ovens and washing machines.
- Download the CMO of Tomorrow report produced by the Which-50 Intelligence Unit
The new research called, Smart Home Appliances – Hardware & eCommerce Opportunities 2016-2021, reveals that many smart appliance vendors are focusing on making the fridge the hub of the ‘smart kitchen’. While the concept itself is not new, the research claimed that a combination of lower connectivity costs and greater consumer affinity with smart home applications meant that there was now a far greater likelihood of significant household adoption.
The Future eRetail Opportunity
The research also claimed that consumer migration to eRetail had laid the ground for more sophisticated commerce applications in the space, with the fridge becoming a mechanism for ordering as well as storing food. Research author Sam Barker added, “While we have seen a number of false starts within the connected appliance ecosystem, the additional functionality of new, mid-range units creates a more attractive value proposition for households.”
Who’s Winning the Battle of the Smart Kitchen?
Juniper Research has ranked the current industry leaders. The key ranking factors were: range of products, brand strength, range of functionality in their appliances, future business prospects and partnerships in the industry.
Juniper’s top ranked manufacturers:
- GE Appliances
- LG Electronics
Korean manufacturer Samsung scores highly in innovation, range of functionality and brand strength, with the Family Hub fridge demonstrating promising prospects for the online grocery market. While other manufacturers, such as GE and LG, also boast high scores in the rankings, Samsung’s partnerships with Mastercard and other eCommerce partners has set them apart from their competitors.
The whitepaper, Smarter Kitchen Smarter Shopping, is now available to download from the Juniper website together with further details of the full research.