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. Smart ovens are next-generation kitchen appliances with specialized features for receiving, processing, and sharing information via smartphones. Smart ovens are electrical microwave systems that provide Bluetooth or Wi-Fi. Smart ovens are attached to a smartphone or a companion app.
Global Smart Ovens Market Size
The companion app helps customers to remotely monitor and operate smart ovens. It can also be used to set up automatic functions. Voice commands and smart home apps related to smart ovens have been launched in recent years. Amazon Echo or Google Home helps users to monitor the voice of connected smart ovens. These ovens have all the features of conventional ovens, as well as extra settings and configurations.
The smart oven has experienced strong customer response primarily due to its high degree of accessibility and technological properties. It can be conveniently linked via NFC, Wi-Fi or Bluetooth technologies to a range of other smart kitchen appliances, including smart chimneys, refrigerators, and so on. The smart oven can be connected to a number of other kitchen appliances and other room devices, such as media players, room lights, sensors and so on.
Smart Ovens Market Share
With the sudden break of Covid-19 in late months of year 2019, the markets worldwide are unfortunately experiencing its grip. The suppliers and consumers of the products & Services are affected in a big way across the sectors resulting in declining revenues in last quarters of year 2019. The declining trend in market sizes is expected to not only sustain but will also amplify itself in year 2020 hugely disturbing the economies worldwide.
Based on Type, the market is segmented into Counter-top and Built-in. Based on End User, the market is segmented into Residential and Commercial. Based on Distribution Channel, the market is segmented into Offline and Online. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Smart Ovens Market to reach a market size of $493.5 million by 2026
Smart Ovens Market Cardinal Matrix
The major strategies followed by the market participants are Product Launches and Acquisition. Based on the Analysis presented in the Cardinal matrix, Samsung Electronics Co., Ltd. is the major forerunners in the Smart Ovens Market. Companies such as Panasonic Corporation, Whirlpool Corporation, LG Corporation, June Life, Inc., Hitachi, Ltd., Tovala, Sharp Corporation, Robert Bosch GmbH, and Techtronic Industries Co., Ltd. are some of the key innovators in Smart Ovens Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
» Partnerships, Collaborations, and Agreements:
» Acquisition and Mergers:
» Product Launches and Product Expansions:
Market Segmentation:
By Type
By End User
By Distribution Channel
By Geography
Companies Profiled
The smart ovens market is projected to reach USD 493.5 million by 2026.
The major factors that are anticipated to drive the smart ovens industry include early tech adopters dominate the market, Evolution of consumer behaviour and adaptation, and Smart ovens as a part of modern interior designs.
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.
The expected CAGR of smart ovens market is 19.1% from 2020 to 2026.
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