IMARC Group, a leading market research company, has recently releases report titled, “Smart Oven Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global smart oven market share, size, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the smart oven market?
The global smart oven market size reached US$ 211.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 629.7 Million by 2028, exhibiting a growth rate (CAGR) of 20.1% during 2023-2028.
What is smart oven?
A smart oven is an electronic appliance that comprises Wi-Fi and Bluetooth connectivity to connect to other smart appliances, such as phone apps. It is manufactured from stainless steel and aluminum. It is widely available in various designs, colors, capacities, and connectivity features. It has built-in sensors that determine the internal temperature of the food and sends notification alerts accordingly. It aids in offering multiple functions, such as cooking, grilling, broiling, baking, roasting, toasting, slow cooking, proofing, and reheating meals. It assists in improving the cooking experience and consumes less energy as compared to conventional ovens.
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What are the growth prospects and trends in the smart oven industry?
At present, the rising integration of the internet of things (IoT) in kitchen appliances represents one of the key factors contributing to the market growth. Besides this, the growing demand for smart appliances at homes as it offers convenience and reduce wastage of electricity is offering a positive market outlook. Apart from this, technological advancements in smart ovens, such as self-cleaning functions and automatic switch off features, are positively influencing the market. Moreover, the rising demand for smart ovens due to the busy lifestyle and hectic working schedules of consumers around the world is bolstering the growth of the market. Furthermore, the increasing demand for built-in ovens with large cooking capacity and seamless, sleek, and futuristic designs is strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
- Whirlpool Corporation.
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