Authored By: Sarah
11 Jul 2024

 Smart Ovens Market Size to grow by USD 519.8 million between 2024-2028

According to a research report “ Smart Ovens Market” by Distribution Channel (Offline, Online) Product (Smart microwave oven, Small wall oven) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 519.8 million, at a CAGR of  20.65% during the forecast period. In the global smart oven market, premium-priced products dominate due to the advanced technology and innovation incorporated in cooking appliances. The widespread availability of high-speed Internet and enhanced communication services in industrialized countries have fueled the demand for smart home equipment, including smart ovens. Emerging markets, such as China and India, exhibit robust consumer expenditure as they strive to elevate living standards. With the increasing smartphone penetration in these nations, consumers are adopting new lifestyles and gravitating towards advanced technologies, like smart ovens. By 2023, the World Bank projects that over 80% of the middle class will reside in emerging countries.

Browse market data tables, figures, and in-depth TOC on “Smart Ovens Market” by Distribution Channel (Offline, Online) Product (Smart microwave oven, Small wall oven) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

In the realm of smart home appliances, smart ovens represent a significant innovation in the market. Two primary categories exist within this sector: smart microwave ovens and smart wall ovens. Tovala's smart microwave ovens incorporate embedded sensors, ensuring optimal heat and humidity levels during cooking. These ovens can steam, broil, bake, and cook based on data and instructions derived from each meal's unique barcode. LG Electronics' smart inverter microwave oven offers precise cooking power for efficient reheating and defrosting of various foods. The latest Bosch Series 8 accent line sensor oven boasts artificial intelligence (AI), delivering unparalleled cooking experiences for users.

By Product, Smart microwave oven  segment is expected to hold the largest market size for the year 2024

In the Smart Ovens market, traditional distribution channels, such as hypermarkets, convenience stores, clubhouse stores, specialty stores, and department stores, have experienced a decline in sales due to the increasing consumer trend towards online shopping. To counteract this trend, vendors are forging partnerships with local retailers and household appliance retail chains. For instance, Haier Group has entered into strategic collaborations with major retailers in China, including GOME Retail and Suning, to expand its offline sales presence. Additionally, Haier Smart Home Co. Ltd. has established various clubs, like V58 and V140 clubs, to foster relationships with key regional distributors. Vendors are also employing diverse marketing strategies to boost offline sales.

North America is forecasted to hold the largest market size by region in 2024

The Smart Ovens market represents a significant growth opportunity for businesses, driven by the increasing demand for technologically advanced kitchen appliances. These ovens offer features such as Wi-Fi connectivity, voice control, and precise temperature control, catering to consumers' desire for convenience and enhanced culinary experiences. Market trends indicate continued innovation, with integrations into smart home systems and AI-assisted cooking functionality. Businesses that can deliver high-quality, user-friendly smart ovens will capitalize on this growing market.

The Smart Ovens Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alto Shaam Inc.
  • Brandt Group
  • Breville Group Ltd.
  • Electrolux group
  • General Electric Co.
  • GoWISE USA
  • Haier Smart Home Co. Ltd.
  • Hitachi Ltd.
  • JS Global Lifestyle Co. Ltd.
  • LG Electronics Inc.
  • Maestro Food Co.
  • MIDEA Group Co. Ltd.
  • Miele and Cie. KG
  • Panasonic Holdings Corp.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Sharp Corp.
  • Smeg S.p.a.
  • Weber Stephen Products HK Ltd.
  • Whirlpool Corp.
.

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Research Analysis Overview

The Smart Ovens market is experiencing significant growth due to the increasing demand for functional kitchen spaces that cater to busy lifestyles. These ovens come with advanced safety features, including automatic shut-off and child lock, ensuring peace of mind while cooking. Digital platforms and connectivity options, such as Wi-Fi and Bluetooth, enable users to control their ovens using smartphones and voice commands. Preheat times are minimized with precise cooking temperature control, ensuring even baking and roasting. Calorie tracking and nutritional information are available through companion apps, allowing users to make informed food choices. Personalized product recommendations and algorithms offer customized cooking experiences. Online retail platforms and delivery options make purchasing a smart oven convenient, while physical stores provide a visually appealing and hands-free shopping experience. Smart ovens also offer distant cooking options, making them a must-have for those with small kitchen spaces or those who enjoy cooking but prefer not to be in the kitchen constantly. Overall, the smart oven market is revolutionizing the way we cook, offering convenience, connectivity, and advanced features for our busy lives. Additionally, the integration of smart ovens with juicers and other small kitchen appliances enhances the functionality of functional kitchen spaces.

Market Research Overview

The Smart Ovens market is a rapidly growing segment of kitchen appliances, driven by consumer electronics moguls and the rise of connected home appliances. These innovative ovens offer healthy cooking functions, energy efficiency, and safety features, making them popular among tech-savvy consumers seeking to improve their nutrition and well-being. Smart ovens come in both built-in and counter-top models, catering to residential and commercial needs. Key features include preheat and cooking temperature control via digital platforms, voice commands, and companion apps, enabling remote monitoring and recipe libraries. Energy efficiency, affordability, and additional cooking capabilities such as air fryers, blenders, and microwaves, are also significant factors. However, concerns around connectivity, data privacy, and security are essential considerations. Smart ovens offer manual supervision, but chefs and busy lifestyles demand convenience, making hand-free control and device connectivity increasingly desirable. The market for smart ovens includes traditional ovens, as well as single function appliances like air fryers, coffee maker machines, and juicers. The counter-top segment dominates, with premium home appliances offering high-quality and smart home technology integration. Safety features, such as sensor technology and temperature control, are crucial in preventing kitchen fires. Nutritional information, calorie tracking, and personalized product recommendations are also essential for consumers with dietary restrictions and preferences. Online retail platforms and delivery options are increasingly popular, with physical stores offering store hours and hands-on experiences. The market for smart ovens is expected to grow significantly, driven by the demand for functional kitchen spaces that cater to busy lifestyles and the desire for visually appealing, convenient, and connected cooking solutions.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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