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Global Smart Ovens Market Size, Share, Revenue, Forecast: By Type: Built In, Counter Top; By End-User: Residential, Commercial; By Sales Channel: Offline Channel, Online Channel, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Global Smart Ovens Market Outlook
The global smart ovens market size reached a value of approximately USD 282.23 million in 2023. The market is further projected to grow at a CAGR of 21.60% between 2024 and 2032, reaching a value of USD 1,640.63 million by 2032.
Key Trends in the Market
Smart ovens are used for enhancing cooking experience by using Wi-Fi for controlling the cooking features and functions. They can often be controlled and monitored by smartphone applications, offering control from afar along with plethora of additional features for making the cooking and baking processes convenient.
- There is a rise in popularity of smart homes due to a wide range of benefits offered by them including energy efficiency, enhanced comfort, and security, among others. This in turn is boosting the utilisation of smart ovens along with other smart kitchen appliances, aiding the smart ovens market expansion.
- Rising disposable incomes and hectic work schedules are encouraging individuals to invest in smart ovens, as they provide convenience by allowing the consumer to operate the device with the help of mobile application. They make the cooking process efficient by allowing the consumer to cook frozen foods without defrosting first.
- Introduction of smart ovens by manufactures with self-cleaning features and the ability to automatically switch off when the food reaches the required temperature is further boosting the product demand. The built-in sensors including baking and roasting sensors use physical probes in the food to detect the completion of the cooking process.
Market Analysis
Based on type, the market is bifurcated into built in and counter top. On the basis of end-user, the market is segregated into residential and commercial. On the basis of sales channel, the market is divided into offline channel and online channel, among others. Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global smart ovens market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Weber Inc.
- LG Corp.
- Panasonic Holdings Corporation
- Samsung Electronics Co., Ltd.
- Haier Group Corporation
- Hitachi, Ltd.
- The Whirlpool Corporation
- Sharp Corporation
- Electrolux AB
- BSH Home Appliances Corporation
- Others
Market Share by End-User
The residential segment is expected to account for a significant portion of the smart ovens market over the forecast period due to various advantages offered by the product including enhanced connectivity, food visibility, and automatic detection of operating issues. The convenience of pre-heating the oven from anywhere with the help of a mobile application, for cooking at a later stage is making the entire process more convenient for working professionals and for large families. Regular diagnostics makes the owner aware of the faulty components and some smart ovens can also be programmed to make appointments with manufacturers for replacement of the faulty components.
Market Share by Region
North America is anticipated to account for a significant portion of the smart ovens market in the coming years. This growth can be attributed to the increasing development of smart homes which has resulted in increased adoption of smart appliances, including smart television and ovens, among others. Additionally, the growth of the food service sector in countries such as Canada and the United States is also boosting the demand for smart ovens across commercial establishments as they help deliver food with consistent quality and reduce labour.
Competitive Landscape
Panasonic Holdings Corporation is an appliance, electrical and electronics manufacturing company that was established in 1918 and is headquartered in Osaka, Japan. They are committed to enhancing the wellbeing of the society and the lives of individuals across the globe by providing high quality home and kitchen appliances.
Haier Group Corporation is an electrical, appliances, and electronics manufacturing company that was founded in 1984 and is headquartered in Shandong, China. They manufacture, design, develop, and sell products such as microwave ovens, refrigerators, washing machines, air conditioners, televisions, dryers, mobile phones, and computers.
The Whirlpool Corporation is a manufacturing company that was founded in 1911 and is based in Michigan, United States. They are one of the world’s largest manufacturers and marketers of home appliances.
Other major players in the smart ovens market include Weber Inc., LG Corp., Samsung Electronics Co., Ltd., Hitachi, Ltd., Sharp Corporation, Electrolux AB, and BSH Home Appliances Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End-User |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Smart Ovens Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Ovens Historical Market (2018-2023)
8.3 Global Smart Ovens Market Forecast (2024-2032)
8.4 Global Smart Ovens Market by Type
8.4.1 Built In
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Counter Top
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Smart Ovens Market by End-User
8.5.1 Residential
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Smart Ovens Market by Sales Channel
8.6.1 Offline Channel
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Online Channel
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Smart Ovens Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Smart Ovens Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Smart Ovens Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Ovens Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Ovens Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Ovens Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Weber Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 LG Corp.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Panasonic Holdings Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Samsung Electronics Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Haier Group Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Hitachi, Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 The Whirlpool Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Sharp Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Electrolux AB
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 BSH Home Appliances Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Ovens Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Ovens Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Smart Ovens Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Smart Ovens Historical Market: Breakup by End-User (USD Million), 2018-2023
5. Global Smart Ovens Market Forecast: Breakup by End-User (USD Million), 2024-2032
6. Global Smart Ovens Historical Market: Breakup by Sales Channel (USD Million), 2018-2023
7. Global Smart Ovens Market Forecast: Breakup by Sales Channel (USD Million), 2024-2032
8. Global Smart Ovens Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Smart Ovens Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Smart Ovens Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Smart Ovens Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Smart Ovens Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Smart Ovens Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Smart Ovens Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Smart Ovens Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Smart Ovens Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Smart Ovens Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Smart Ovens Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Smart Ovens Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Smart Ovens Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 282.23 million in 2023.
The market is projected to grow at a CAGR of 21.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1,640.63 million by 2032.
The major market drivers include rising demand for energy conserving electrical appliances and increasing demand for smart ovens in the food service sector.
The key trends fuelling the growth of the market include growing popularity of smart homes, rising disposable income and hectic lifestyle, and introduction of advanced features by manufacturers including self-cleaning.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various end-users of smart ovens include residential and commercial.
The key players in the global smart ovens market are Weber Inc., LG Corp., Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., Haier Group Corporation, Hitachi, Ltd., The Whirlpool Corporation, Sharp Corporation, Electrolux AB, and BSH Home Appliances Corporation, among others.
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