Global Smart Oven Market to Reach US$ 1119.4 Million by 2032, Propelled by the Increasing Deployment of the Internet of Things (IoT) in Kitchen Appliances

March 07, 2023 | Electronics and Semiconductors

The latest report by IMARC, titled “Smart Oven Market Report by Type (Single Function, Multiple Function), Distribution Channel (Online, Offline), Capacity (20-25 Litres, 26-30 Litres, Above 30 Litres), Structure (Built-in, Countertop), Connectivity (Bluetooth, Wi-Fi, NFC, and Others), Application (Residential, Commercial), and Region 2024-2032”, finds that the global smart oven market size reached US$ 254.1 Million in 2023. Smart ovens refer to technologically advanced kitchen appliances that provide features beyond the standard competence of traditional ovens, using internet connections. They offer increased convenience, efficiency, and control over their cooking procedure. Due to the integration of smart homes and the incorporation of internet connectivity, smart ovens allow users to remotely control and monitor the oven through an app or smart home assistants, such as Google Home and Amazon Alexa. Smart ovens include features, such as touchscreens, voice commands, and automated cooking programs, thus reducing the risk of overcooking or undercooking. Smart ovens also possess sensors and cameras, which help in adjusting cooking temperatures automatically.

Global Smart Oven Market Trends:

One of the primary factors driving the market is the increasing deployment of the Internet of Things (IoT) in kitchen appliances. Additionally, the growing employment of energy-saving products in smart homes is creating a positive market outlook. Other than this, the exponential growth in the number of individuals preferring to dine out is ha encouraged food outlet businesses to opt for smart commercial ovens. Besides this, a significant increase in the purchase of household appliances globally has accelerated the production of smart ovens with artificial intelligence (AI). In line with this, with the increasing working population and hectic lifestyles, consumers are shifting toward smart appliances that offer convenience while reducing electricity waste, thus escalating the product adoption rate. Furthermore, key players are focusing on introducing smart ovens with self-cleaning functions and their ability to turn off automatically after the meal reaches the proper temperature. On account of these factors, IMARC Group expects the market value to reach US$ 1119.4 Million by 2032, expanding at a CAGR of 17.4% during the forecast period (2024-2032).

Market Summary:

On the basis of the type, the market has been segmented into single and multiple functions.
Based on the distribution channel, the market has been segregated into online and offline.
On the basis of the capacity, the market has been divided into 20-25 litres, 26-30 litres, and above 30 litres.
Based on the structure, the market has been categorized into built-in and countertop.
On the basis of the connectivity, the market has been divided into Bluetooth, wi-fi, NFC, and others.
Based on the application, the market has been segmented into residential and commercial.
Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), Middle East and Africa.
The competitive landscape of the market has also been analyzed, 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Type, Distribution Channel, Capacity, Structure, Connectivity, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Smart Oven Market to Reach US$ 1119.4 Million by 2032, Propelled by the Increasing Deployment of the Internet of Things (IoT) in Kitchen Appliances

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