Smart Ovens Market - Global Industry Analysis

Smart Ovens Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-5636 Status : Upcoming

Description

Global Smart Ovens Market: Overview

A smart oven is an electronic appliance which comprises the functionalities of a traditional oven with that of a microwave, added with extra features such as Bluetooth and Wi-Fi connectivity for providing a better and more efficient experience to the user. The high-end varieties of smart ovens are integrated with voice command feature and even flexible cooktops. The smart oven can be operated by using a mobile application provided by the manufacturing company, or even the home automation software–integrated home assistant devices, which include Amazon Alexa and Google Home.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Additionally, these smart ovens provide enhanced operations such as remotely changing the temperatures and food preparation settings, enabling easier cooking of food. Equipped with ultra-modern technology, smart ovens are also fused with higher number of cooking configurations, ranging from baking, grilling, roasting, and reheating food.

Global Smart Ovens Market: Growth Factors

Due to the factors such as busy lifestyles of the people, increasing disposable incomes, the preference for smart home and kitchen appliances has increased considerably. Moreover, the high level of convenience and lower power consumption associated with the latest range of products is offering a considerable impetus to the global smart ovens market share.

Furthermore, rapid technological enhancements have allowed the smart oven manufacturers to include advanced features such as self-cleaning and even automatic powering off when the cooking cycle is over or when the food cooks to the correct temperature with the help of heat detection sensors.

Additionally, the availability of several features such as integrated food recipes in the smart oven’s memory or system, where the device is able to change its temperature according to the dish being cooked and for the right amount of time, is a major factor attracting a larger customer base. These factors are expected to drive the global smart ovens market in the forthcoming times.

However, because of the COVID-19 pandemic, the global smart ovens market share has been impacted negatively. Several smart ovens manufacturers are facing issues such as unavailability of product parts, lower demand for such products, lesser investments for production, and restrictions on transport. Also, the temporary worldwide ban on import and export transactions has resulted in a substantial loss on a global scale. On the other hand, in the regions where the governments are slowly resuming with production activities, companies providing smart ovens and other related machine components are also gaining back their momentum.

Global Smart Ovens Market: Segmentation

The global smart ovens market is differentiated by type, capacity, structure, connectivity, distribution channel, end-user, and region. Based on the type of smart oven, the market is divided into single function and multiple function smart ovens. On the basis of capacity, the market is classified into 20-25 liters, 26-30 liters, and above 30 liters. By structure, the market is segmented into built-in and counter-top.

Based on connectivity, the global smart ovens market can be categorized into NFC, Wi-Fi, and Bluetooth. The Wi-Fi sub-category accounts for a major share owing to the longer range of Wi-Fi connections and convenience. By distribution channel, the market is bifurcated into offline and online. On the basis of end-user, the market can be segregated as commercial and residential. The commercial segment dominates the market due to prevalence of restaurants and hotels in the developed countries.

Global Smart Ovens Market: Regional Analysis

North America dominates the global smart ovens market due to the fully mechanized industrial sector, rising disposable incomes, high urban population, improving standard of living, and increased preference for smart kitchen appliances owing to the hectic lifestyles of the people. North America is followed by Europe in terms of market share due to the presence of a number of giants companies in this region that produce smart ovens and increasing preference for automated home devices due to their convenience.

Asia Pacific is projected to witness substantial development of the smart ovens market in the upcoming timeframe. This can be attributed to several factors such as changing lifestyles, increasing urban population, presence of densely populated countries such as China and India in the region, and higher requirements for smart home devices due to the emergence of home automation systems in the region.

Global Smart Ovens Market: Competitive Players

Some of the key companies dominating the global smart ovens market include June Life, Inc., Robert Bosch GmbH, Sharp Corporation, Samsung Electronics Co., Ltd., LG Corporation, Tovala, Hitachi, Ltd., Panasonic Corporation, Breville Group Limited, Haier Group, Sub-Zero Group Inc., and Electrolux AB.

Global Smart Ovens Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

Some of the key companies dominating the global smart ovens market include June Life, Inc., Robert Bosch GmbH, Sharp Corporation, Samsung Electronics Co., Ltd., LG Corporation, Tovala, Hitachi, Ltd., Panasonic Corporation, Breville Group Limited, Haier Group, Sub-Zero Group Inc., and Electrolux AB.

Asia Pacific is projected to witness substantial development of the smart ovens market in the upcoming timeframe. This can be attributed to several factors such as changing lifestyles, increasing urban population, presence of densely populated countries such as China and India in the region, and higher requirements for smart home devices due to the emergence of home automation systems in the region.

Due to the factors such as busy lifestyles of the people, increasing disposable incomes, the preference for smart home and kitchen appliances has increased considerably.  Moreover, the high level of convenience and lower power consumption associated with the latest range of products is offering a considerable impetus to the global smart ovens market share.

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