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Smart Oven Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023

Report Description

Smart Oven Market: Overview

Smart oven has witnessed positive response by the customers, owing to its augmented technology and connectivity characteristics. A smart oven can be connected easily through Wi-Fi, NFC or Bluetooth technologies to other smart kitchen appliances such as smart refrigerators, chimneys and others. It can be connected to many other devices in the kitchen and to devices in other rooms such as room lights, media players, sensors and others.

Furthermore, smart ovens enable a user to augment their cooking skills through various inbuilt tutorials for well-known recipes and cooking tips. Moreover, the smart oven manufacturers have also introduced ovens with temperature probes which can turn off the oven when the food reaches an appropriate temperature.

Smart Oven Market: Trends and Drivers

Smart oven market is expected to exhibit high growth characteristics owing to implementation of internet of things (IoT) across home appliances and home automation systems. Furthermore, advancements in Wi-Fi connectivity features along with the LCD and LED display systems have further contributed in the expansion of smart microwave oven market. However, changing lifestyle of people across developed economies has further supported the demand for smart ovens since its introduction in the global home appliance market. Moreover, the demand for smart ovens has been increasing due to rising demand for frozen food and ready to cook foods.

On the contrary, the key factors restricting the market growth for smart oven is the dominance of conventional cooking equipment globally. Also, one of the major reasons restricting the market growth for smart ovens is the price constraint, making it difficult for smart ovens to sustain in the cost sensitive economies such as India, Indonesia, GCC countries, and African countries. Thus, the developed economies are primarily expected to forecast prominent growth trends in the near future.

Smart Oven Market: Segmentation

The global smart oven market is segmented on the basis of type, application, structure, connectivity, and geography. Segmentation on the basis of type include temperature probes, sensors, media players and others. Based on structure, the smart oven market is segmented into built-in and counter top. Built-in ovens are mainly used for commercial purposes in restaurants, confectionary stores, gourmet cafes and bakeries. Counter top ovens are mostly used for household purposes, owing to its compact shape and size. The segmentation on the basis of applications include household and commercial service industries.

Segmentation on the basis of connectivity include Wi-Fi, Bluetooth, near field communication (NFC), IoT, and others. Geographically the global smart oven market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Owing to the growing popularity and demand for augmented cooking methodologies across the U.S. and other major European countries, the market is expected to witness prominent growth in North America and Europe.

Smart Oven Market: Key Players

Some of the key players in the global smart oven market include Whirlpool Corporation, LG Electronics, Samsung Electronics Ltd., Panasonic Corporation, Hoover limited, BSH Home Appliances Group and Dacor Inc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Value Chain

Regional analysis includes:

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern  Europe
  • Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Report highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

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