According to the latest report by IMARC Group, titled, “Smart Oven Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global smart oven market size reached US$ 173.3 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 531.8 Million by 2027, exhibiting a growth rate (CAGR) of 20.72% during 2022-2027.
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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Smart Oven Market Trends and Drivers:
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.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- 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.
Smart Oven Market Report 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on 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
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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