The global induction hobs market is expected to register a CAGR of over 8%
during the period 2018-2022, according to the latest market research
report by Technavio.
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Technavio has published a new market research report on the global induction hobs market from 2018-2022. (Graphic: Business Wire)
A key factor driving the market’s growth is the product innovations and
new designs. One of the major drivers for the market’s growth is the
constant product innovation by players, which encourages the shift in
consumer preference from gas stoves to induction hobs. Moreover, every
product upgrade leads to shortening of the replacement cycles for the
product category. This is because a significant consumer segment
consists of early adopters that prefer purchasing the latest technology.
Some of the latest features that have been added to induction hobs
include faster heating-up and cooling down, temperature controls, power
levels, child lock, timer, and sensory panels.
This market research report on the global
induction hobs market 2018-2022 provides an analysis of the most
important trends expected to impact the market outlook during the
forecast period. Technavio predicts an emerging trend as a major factor
that has the potential to significantly impact the market and contribute
to its growth or decline.
This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing.
In this report, Technavio highlights the advent of voice-controlled
kitchen assistants as one of the key emerging trends in the global
induction hobs market.
Global induction hobs market: Advent of
voice-controlled kitchen assistants
With growing digitalization, consumers have become tech-savvy, with a
strong knowledge of the use and benefits of modern appliances.
Voice-controlled assistants are new technologies that can support users
daily activities including cooking.
“Companies such as Bosch’s Mykie has developed a voice-controlled,
counter-top robot, can read the stages of recipes, helping users cook.
The device captures the recipe and reads it to the user or displays the
video on the wall, similar to a projector from where the user can follow
it. The robot can be connected to Bosch’s ovens,” says a senior
analyst at Technavio for research on home, kitchen, and large appliances.
Global induction hobs market: Segmentation
This market research report segments the global induction hobs market
into the following products (built-in induction hobs and free-standing
The built-in induction hobs segment held the largest market share in
2017, accounting for nearly 56% of the market. This product segment is
expected to dominate the global market throughout the forecast period.
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Some of the key topics covered in the report include:
Five Forces Analysis
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180622005372/en/