The global smart oven market size reached USD 135.6 Million in 2021 and is expected to register a revenue CAGR of 18.1% during the forecast period, according to latest analysis by Emergen Research. Increasing consumption of ready-to-eat and frozen food and rapid urbanization are key factors driving market revenue growth. A number of working individuals relocating for work or study purposes is resulting in increasing demand for smart appliances. Younger individuals are adopting a fast-paced and hectic lifestyle and are investing in smart ovens and other smart kitchen appliances.
However, adoption of such devices is not limited to the younger generation. Consistent technological advancements and enhancement in user experience are driving demand for smart ovens. Technological benefits such as ability to control devices automatically, personalization of appliances as per need of user in addition to eco-friendly tech for energy and cost-effectiveness are resulting in smart ovens and other kitchen appliances gaining steady tractions.
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Time-saving, convenience, and flexibility are some of the considerations for both the working and younger generations owing to a hectic lifestyle and schedules. Rising expenses and cost are major concerns for working individuals who have shifted preference toward staying at home and preparing food instead of dining out. Efficient energy consumption and faster cooking time and early failure or fault detection owing to the built-in performance assessment system in smart ovens are some features driving steady adoption of smart ovens over conventional ovens.
Accessibility, utilization of optics, and integration over various devices such as smartphones and tablets and others provides better control over food being cooked. The scanner on the smart oven reads the smart codes printed on ready-to-eat food packaging and provides related easy manual control, making it highly convenient for consumers.
The Global Smart Oven Market Research Report is furnished with the latest information about product specifications and portfolio, technological advancement, product type, and manufacturing. Major factors such as revenue, costs, and gross margin are taken into consideration while formulating this report. The report provides extensive data concerning the key market players along with their SWOT analysis, financial standing, technological and product development, and recent strategic business expansion plans.
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Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Smart Oven Market.
Some major companies operating in the global market include BSH Hausgeräte GmbH, Breville Pty Ltd., Haier Group, AB Electrolux, Panasonic Holdings Corporation, LG Electronics, Sharp Corporation, Samsung, Whirlpool Corporation, and Sub-Zero Group, Inc.
Emergen Research has segmented the global remote access solutions market on the basis of structure, distribution channel, application, connectivity, and region:
Structure Outlook (Revenue, USD Million; 2019-2030)
Built-in
Countertop
Distribution Channel Outlook (Revenue, USD Million; 2019-2030)
Online
Offline
Application Outlook (Revenue, USD Million; 2019-2030)
Residential
Commercial
Connectivity Outlook (Revenue, USD Million; 2019-2030)
Bluetooth
Wi-Fi
Near-Field Communication (NFC)
Others
Key Questions Addressed in the Report:
Who are the leading players in the Smart Oven industry?
Which region is expected to dominate the market in the coming years?
What are the key applications of Smart Oven?
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by leading players in the market?
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At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
