The global smart oven market exhibited strong growth during 2015-2020.
Looking forward, the analyst expects the market to grow at a CAGR of around 20% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A smart oven is a type of kitchen appliance that combines the utility of conventional and microwave ovens with Wi-Fi and Bluetooth for providing improved connectivity. Some variants of these ovens are also equipped with flexible cooktops and offer voice control functionality that can be carried out through the companion app or smart home assistants, such as Google Home and Amazon Alexa. Smart ovens offer enhanced control by allowing users to adjust the temperature and cooking configurations remotely. They also provide a higher number of cooking modes and cycle settings, which range from reheating frozen foods to baking and roasting.
With the advent of the Internet of Things (IoT) and rising penetration of intelligent home assistants, smart ovens can be controlled through mobile applications, which send real-time status updates to users. This represents one of the most crucial factors bolstering the growth of the market across the globe. Furthermore, owing to hectic lifestyles and inflating income levels, consumers are shifting toward smart appliances as they provide convenience and help in reducing the wastage of electricity. Moreover, technological advancements have enabled manufacturers to introduce smart ovens that have self-cleaning functions and can automatically switch off when the food reaches the right temperature. They are also integrating smart ovens with applications that offer food recipes, wherein the appliances can automatically preheat to a set temperature and cook for the predefined period.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global smart oven market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, distribution channel, capacity, structure, connectivity and application.
Breakup by Type: Single Function Multiple Function
Breakup by Distribution Channel: Online Offline
Breakup by Capacity: 20-25 Litres 26-30 Litres Above 30 Litres
Breakup by Structure: Built-in Countertop
Breakup by Connectivity: Bluetooth Wi-Fi NFC Others
Breakup by Application: Residential Commercial
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being Breville Group Limited, Bsh Home Appliances Corporation (Robert Bosch GmbH), Electrolux AB, Haier Group, LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Sub-Zero Group Inc. and Whirlpool Corporation. Key Questions Answered in This Report: How has the global smart oven market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global smart oven market? What are the key regional markets? What is the breakup of the market based on the type? What is the breakup of the market based on the distribution channel? What is the breakup of the market based on the capacity? What is the breakup of the market based on the structure? What is the breakup of the market based on the connectivity? What is the breakup of the market based on the application? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global smart oven market and who are the key players? What is the degree of competition in the industry?
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