Global Smart Ovens Market

Smart Ovens Market Size, Share, Growth Analysis, By Application(Residential and commercial sectors), By Technology(Convection, microwave, and combination ovens), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25H2033 | Region: Global | Published Date: March, 2024
Pages: 223 | Tables: 61 | Figures: 65

Smart Ovens Market News

  • In January 2023, Whirlpool Corporation acquired Insignia Products. Insignia is a leading brand of smart home appliances, including ovens.
  • In February 2023, Samsung Electronics acquired ChefSteps. ChefSteps is a leading provider of online cooking courses and recipes.
  • In March 2023, Haier Group acquired Mealthy. Mealthy is a leading brand of connected kitchen appliances, including ovens.
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Smart Ovens Market size was valued at USD 200 million in 2022 and is poised to grow from USD 230 million in 2023 to USD 703.58 million by 2031, growing at a CAGR of 15.00% during the forecast period (2024-2031).

The smart oven market's competitive landscape is characterized by intense rivalry among key players striving for innovation and market share. Companies like Whirlpool, Samsung, Breville, and LG Electronics are prominent, focusing on features like IoT connectivity, voice control, and advanced cooking algorithms. New entrants, including startups specializing in kitchen technology, also vie for space. Product differentiation, pricing strategies, and user-friendly interfaces are critical focal points for gaining competitive edge. As the market evolves, partnerships with tech companies and emphasis on energy efficiency and convenience will likely shape the competition in the dynamic smart oven sector. 'June (USA)', 'Tovala (USA)', 'Brava Home (USA)', 'Anova Culinary (USA)', 'Breville Group (Australia)', 'Whirlpool Corporation (USA)', 'Panasonic Corporation (Japan)', 'Samsung Electronics (South Korea)', 'LG Electronics (South Korea)', 'Miele (Germany)'

The increasing trend of smart home adoption is driving the demand for smart appliances, including smart ovens. Consumers are looking for convenient and connected appliances that can be controlled remotely, integrated with voice assistants, and provide real-time updates on cooking progress.

Integration of IoT and Connectivity: Smart ovens were increasingly becoming a part of the Internet of Things (IoT) ecosystem. They were designed to connect to home networks, allowing users to control and monitor their ovens remotely through smartphone apps or voice assistants like Amazon Alexa or Google Assistant. This connectivity offered features such as remote temperature adjustment, recipe sharing, and real-time alerts, enhancing convenience and control for users.

North America and Europe were considered the largest markets for smart ovens due to the higher disposable income, technological awareness, and adoption of smart home systems in these regions.

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Global Smart Ovens Market

Report ID: SQMIG25H2033

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