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Smart Oven Market - By Structure Type (Built-in, Countertop), By Application (Commercial, Residential), By Distribution Channel (Online, Offline), Forecast, 2023–2032

  • Report ID: GMI5894
  • Published Date: May 2023
  • Report Format: PDF

Smart Oven Market Size

Smart Oven Market size was valued at over USD 200 million in 2022 and is anticipated to grow at a CAGR of over 15% between 2023 and 2032. The ability of smart oven to remotely control & monitor cooking via smartphone apps enables users to multitask and control their cooking even when they are not physically present in the kitchen. Pre-programmed recipes and cooking instructions of smart oven aid in easy cooking, saving time and effort.
 

Smart Oven Market

A smart oven refers to a kitchen appliance with advanced features and connectivity. These ovens use internet connectivity, sensors, and automation to provide users with a better & easier cooking experience. A smart oven can be controlled remotely via a smartphone app, allowing users to monitor & adjust their cooking facilities from anywhere. Smart ovens often come with pre-made dishes, cooking instructions, and automatic settings that make cooking easier & more user-friendly.

With increased connectivity and data exchange in smart ovens, privacy and security concerns are bound to arise. Connected devices can be vulnerable to cyber threats and inaccessibility, raising concerns about data security and privacy. These concerns may act as a limitation, preventing product adoption and hindering market growth during the forecast period.
 

Smart Oven Market Trends

The overall trend toward smart home adoption plays an important role in driving the smart oven industry. Integration with other smart devices, such as smart ovens, smart refrigerators, voice assistants & home automation, will also improve the smart home experience, in turn, increasing the demand for smart ovens. With the growing use of appliances and need for connected solutions, smart ovens are becoming essential components of connected kitchens. This integration of solutions results in a unified kitchen, where many appliances can be collaborated for convenience, efficiency, and automation in the kitchen. For example, users can use voice commands to heat the oven, receive cooking notifications on the smart speaker, or sync cooking with other devices.
 

In addition, smart ovens increase customer convenience and control. Users can monitor and control their smart ovens from a central control panel or smartphone such as they can heat the stove in the hallway, set the cooking zone from another room, or receive a notification when the cooking cycle is complete. This level of flexibility and control aligns with the different aspects of a smart home, streamlining day-to-day operations and driving market growth.
 

Smart Oven Market Analysis

Smart Oven Market Size, By Structure Type,

Based on structure type, the smart oven market is segmented into built-in and countertop. The built-in segment holds over 70% of the market share in 2022 with the volume of over 85 thousand units dispatched. Countertop smart ovens can relate to other smart home devices and platforms, such as voice assistants, smart guides, and smartphones, allowing users to remotely control and monitor their ovens, thereby enhancing the overall smart home experience.
 

Integration with the smart home ecosystem continues to drive the demand for countertop smart ovens, especially for customers looking for connected and automated kitchens. Countertop smart ovens are often a great alternative to built-in smart ovens. They are generally cheaper and less expensive to install, which makes them accessible to a wide range of customers. The cost-effectiveness of a countertop smart oven appeals to price-conscious buyers who want to experience the benefits of smart cooking at no significant cost, boosting market growth.

Smart Oven Market Revenue Share, By Application,

Based on application, the smart oven market is segmented into commercial & residential. The commercial segment expanded at over 20% CAGR during the forecast period. The growth is attributed to the increasing demand for smart devices and remote monitoring. Commercial kitchens require proper management and maintenance, even in remote locations.
 

A smart oven with remote monitoring capabilities allows the kitchen manager or chef to monitor cooking, adjust settings, and receive notifications or alerts. These features improve operational management and efficiency, contributing to the adoption of smart technologies in the business world. Smart ovens are being adopted as they can provide consistent cooking results and nutritious meals. They also provide temperature control, even distribution of electricity, and automatic cooking to ensure the best results. These factors contribute to the increasing preference for smart ovens in commercial settings.

The proliferation of high-speed internet connections has led to an increase in online shopping. The online distribution channel is expected to grow over 15% CAGR during the forecast period. Consumers can easily browse, compare, and purchase smart ovens online. Online shopping offers convenience to customers with their 24/7 accessibility. This makes it easy for customers to explore various smart oven options, read product specifications & reviews, and make their own purchases. The ability to shop online saves customers time and efforts by eliminating the need to visit a store.

U.S. Smart Oven Market Size,

North America smart oven market in held the highest revenue share of over 30% in 2022. North America is a technology and innovation hub. Smart energy companies in the region are constantly investing in research & development to introduce new features, improve performance, and improve user experience. This innovation trend has fueled the market growth in North America. The demand for smart ovens is increasing as consumers are becoming more aware of their benefits and capabilities. Online reviews and promotions educate consumers about smart ovens, encouraging them to embrace their benefits. The evolving lifestyles and cooking habits including time constraints, convenience needs, and health-consciousness have impacted the demand for smart ovens. These appliances have various features, such as pre-programmed cooking programs, recipe suggestions, and nutritional information, that suit the needs and preferences of North American users.
 

Smart Oven Market Share

Major companies operating in the smart oven market include

  • Samsung Electronics Co.
  • LG Electronics
  • Whirlpool Corporation
  • Electrolux AB
  • BSH Home Appliances Group (Bosch, Siemens, Neff)
  • General Electric (GE Appliances)
  • Miele
  • Panasonic Corporation
  • Sharp Corporation
  • Haier Group
  • Breville Group Ltd.
  • Tovala
  • Anova Culinary
  • June Life Inc
  • Brava Home Inc.
     

Smart Oven Industry News:

  • In February 2023, Tovala, a company known for its revolutionary countertop smart oven and fresh meal delivery service, expanded its product portfolio of cloud-connected smart ovens with the launch of the new Tovala Smart Oven Air Fryer. The product is available in a sleek stone-gray finish and cooks’ food perfectly using automated multi-mode cook cycles.
     

The smart oven market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue & volume (USD Million & Thousand Units) from 2018 to 2032, for the following segments:

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By Structure Type

  • Built-in
  • Countertop

By Application

  • Commercial
  • Residential

By Distribution Channel

  • Offline
  • Online

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Singapore
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Market size for smart oven was valued at over USD 200 million in 2022 and is anticipated to grow at a CAGR of over 15% between 2023 and 2032, owing to the ability to remotely control & monitor cooking via smartphone apps, along with pre-programmed recipes & cooking instructions in smart oven which make cooking easy and timesaving.

The countertop smart oven segment will record a strong CAGR during 2023-2032, as these ovens can relate to other smart home devices and platforms, such as voice assistants, smart guides, and smartphones, enhancing the overall smart home experience.

North America held the highest share of over 30% in smart oven industry in 2022, on account of the increasing product demand as consumers become more aware of benefits and capabilities, in consort with constant R&D to introduce new features.

Electronics Co., LG Electronics, Whirlpool Corporation, Electrolux AB, BSH Home Appliances Group (Bosch, Siemens, Neff), General Electric (GE Appliances), Miele, Panasonic Corporation, Sharp Corporation, Haier Group, Breville Group Ltd., Tovala, Anova Culinary, June Life Inc., and Brava Home Inc.

Smart Oven Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 256
  • Countries covered: 19
  • Pages: 200
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