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.
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:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart oven market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, distribution channel, capacity, structure, connectivity and application.
Breakup by Type:
Breakup by Distribution Channel:
Breakup by Capacity:
Above 30 Litres
Breakup by Structure:
Breakup by Connectivity:
Breakup by Application:
Breakup by Region:
Middle East and Africa
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.
Base Year of the Analysis
Type, Distribution Channel, Capacity, Structure, Connectivity, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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
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Key Questions Answered in This Report
The global smart oven market was valued at US$ 211.9 Million in 2022.
We expect the global smart oven market to exhibit a CAGR of 20.1% during 2023-2028.
The rising adoption of the Internet of Things (IoT), along with the growing demand for energy-saving products in smart homes, is primarily driving the global smart oven market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for smart ovens.
Based on the type, the global smart oven market has been divided into single function and multiple function. Currently, multiple function holds the majority of the total market share.
Based on the distribution channel, the global smart oven market can be segmented into online and offline. Among these, offline currently exhibits a clear dominance in the market.
Based on the capacity, the global smart oven market has been bifurcated into 20-25 litres, 26-30 litres, and above 30 litres, where 26-30 litres account for the largest market share.
Based on the structure, the global smart oven market can be segregated into built-in and countertop. Currently, countertop exhibits a clear dominance in the market.
Based on the connectivity, the global smart oven market has been divided into Bluetooth, Wi-Fi, NFC, and others, where Wi-Fi currently holds the majority of the global market share.
Based on the application, the global smart oven market can be categorized into residential and commercial. Currently, residential exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global smart oven market include 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.
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