Smart Oven Market Outlook and Opportunities in Grooming Regions 2027

 

Market Forecast


The global smart oven market is expected to reach a value of ~USD 600 million by 2030, with a CAGR of around 18%.

A smart oven employs cutting-edge technology to build food preparation simple, quick, and effortless. The main benefit of using a smart oven is that it prevents food from burning by monitoring temperature levels and turning off automatically, saving energy. It has some advanced features, such as an internal camera that helps in monitoring cooking from anywhere in the world.


Regulatory Framework

The European Commission has stated its position on smart ovens and the regulations that must be followed. "All household ovens that connect to the internet will be required to meet all safety and technical standards." This is done to ensure the users' safety. A working smoke detector is required for all smart ovens. This is one of the most serious safety concerns in ovens. If there is a fire, the temperature sensors will turn off the oven. This is a critical feature that must be included in all smart ovens.


Impact of Coronavirus Outbreak

The COVID-19 pandemic had a significant impact on the smart oven market. As people were working from home, spending more time at home, and using necessitates appliances that can complete tasks faster than traditional methods, the COVID-19 pandemic has increased the demand for smart ovens. The distribution channel segment is further divided into two categories: online and offline. End users prefer buying kitchen appliances offline, so the offline distribution channel is expected to hold majority of the market share. However, due to the recent outbreak of the COVID-19 pandemic, the online distribution channel has seen a surge in demand. Due to the restrictions imposed during lockdown, the online channel is gaining traction. As a result, online sales have boosted the growth of the smart oven market in the current scenario. The introduction of an omnichannel strategy is expected to boost the wholesale market's growth. This channel promotes the idea of a single brand experience across multiple channels. These factors are favourable to the smart oven market's expansion

Access full report @ https://www.marketresearchfuture.com/reports/smart-oven-market-10803

Segmentation



By End-User

By end-user, the global smart oven market has been segmented based on restaurants, gourmet cafes, confectionery store, bakeries, and others. The restaurant segment held the largest market share in global smart oven market for the year 2021. These ovens can be set to cook food at any temperature and for any amount of time. When compared to traditional ovens, they cut cooking time in half. The chef oversees the cooking process at every stage to ensure consistency and quality. Chefs in restaurants can use these ovens with cutting-edge technology to cook food faster and more consistently. As a result, smart ovens have become a requirement for restaurants.

By Application

Based on application, the global smart oven market has been segmented based on single function and multiple function. The multiple function segment is estimated to hold the largest market share in global smart oven market for the year 2022. The multiple function segment is more efficient and can be utilized for preparation of different variety of foods at perfect temperature.

By Structure

Based on structure, the global smart oven market is segmented based on built-in smart oven and counter top. In 2021, the counter top segment is estimated to dominate the global smart oven market. on the other hand, the built-in segment is expected to witness growth at a significant CAGR during the forecast period. The counter top smart oven can be easily handled and can be moved from one place to another with ease. This makes it more preferred then the built-in smart oven.

By Capacity

Based on capacity, the global smart oven market is segmented based on 20-25 litre, 26-30 litres, and above 30 litres. The 26-30 litres segment held the largest market share in global smart oven market for the year 2021. The 20-30 litres smart ovens are generally preferred by restaurant and in residential sectors for preparing food at larger quanity.

By Distribution Channel

Based on distribution channel, the global smart oven market is segmented based on online and offline. The offline segmented led the market share in global smart oven market in the year 2021. The majority of the sales of smart oven is through offline retail and specialty stores since consumer tend to have a look and feel of the product before going for any purchase. 

By Region

North America: North America dominates the smart oven market because of its high disposable income and growing consumer interest in IoT-enabled devices and smart home concepts. However, other established products such as smartphones and tablets have dominated the market because of their functionality and innovative features.

Asia-Pacific: The demand for smart ovens is increasing at a rapid rate in regions such as China and India owing to factors such as increasing urbanization and rising population. The market is expected to witness a high growth rate in upcoming years owing to the growing geriatric population, rising adoption of modern technologies, and increasing demand for cost-effective solutions.

Europe: In the near future, demand for smart ovens in Europe is expected to steadily increase. The demand for the appliance is expected to rise as Europeans prefer more convenient and technology-based appliances. The regional smart ovens market is being driven by increased investment in the food industry.

Rest of the World: The Rest of the World region includes South America, Middle East, and Africa. The demand for smart oven in Middle East is expected to account for the largest market share due to the presence of key markets such as the UAE, Saudi Arabia, and Qatar among others.

Competitor Analysis

Some of the key companies profiled in the global smart oven market are Sharp Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Sub-Zero Group Inc, Panasonic Corporation, Whirlpool Corporation, Breville Group Limited, Haier Group, Bsh Home Appliances Corporation (Robert Bosch GmbH), and Electrolux AB among others.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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Market Research Future (part of Wantstats Research and Media Private Limited), 

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