Published Date: 14-May-2020
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According to a new report Global Smart Ovens Market, published by KBV research, The Global Smart Ovens Market size is expected to reach $493.5 Million by 2026, rising at a market growth of 19.1% CAGR during the forecast period.
On the basis of the size, the counter top segment led the market in terms of global demand for smart ovens and is expected to rise with the highest CAGR during the forecast period. Countertops are cheaper and lightweight relative to their counterparts as a result of a very high rate of adoption, especially in the residential sector.
On the basis of end-users, the residential segment has led the industry in terms of global consumer demand for 2019 and is expected to rise at the fastest CAGR in the forecast period. Growing market awareness and rising living standards have created demand for smart ovens in the residential sector.
On the basis of the sales channel, the offline channel dominated the global market for 2019. The online channel is projected to expand at a robust CAGR of 20.4% during the forecast period.
Smart ovens are most commonly found in developed nations such as America and Europe. Developing economies such as India and Brazil are projected to make a major contribution to the development of the smart oven industry in the years to come. Changing consumer lifestyle patterns has raised demand for frozen and ready-to-eat products. The working population of the society prefers to use ovens to cook such food items because of time constraints and hectic life schedules. The growing popularity of frozen and ready-to-eat food items among consumers has significantly boosted demand for ovens, especially in developing countries in Asia.
Structural Insights: https://www.kbvresearch.com/smart-ovens-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of LG Corporation (LG Electronics), Whirlpool Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Sharp Corporation, Hitachi, Ltd., Robert Bosch GmbH, Techtronic Industries Co., Ltd., Tovala, June Life, Inc.
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