Smart Ovens Market to record USD 243.62 Mn incremental growth; Driven by changing lifestyles in developed and developing economies -- Technavio

NEW YORK, Oct. 20, 2022 /PRNewswire/ -- The "Smart Ovens Market Growth By Product, Distribution Channel, and Geography - Industry Forecast & Analysis - 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the smart ovens market between 2021 and 2026 is USD 243.62 million. To estimate the size of the market, Technavio has considered various factors including the consumer base, adoption rate, revenue generated by vendors, GDP growth, urbanization, per capita income, final household expenditure, and commodity price fluctuation among others. Understand the scope of our full report by Downloading a Free Report PDF Sample.

Key Market Dynamics:

• Market Driver
• Market Challenges

The market is driven by changing lifestyles in developed and developing economies. Factors such as technological advances and the rise in the adoption of smartphones in both developed and developing countries have increased the preference for appliances backed with smart technologies. In addition, the increase in urbanization, availability of goods, and income influences consumer spending behavior have significantly increased the demand for smart technologies, including smart ovens. This is encouraging vendors in the market to draw consumer interest by adding value to their products and expanding their product portfolio. All these factors will positively influence the growth of the market in focus during the forecast period.

However, safety issues in mobile applications will hinder the growth of the market. Smart appliances such as smart ovens rely on smartphones for their operation. They require smartphones with high battery backup, high-speed processors, and proper internet connectivity to control them. Failure in conveying messages to the device due to a failure of any of these components will result in poor operations of smart ovens. Also, there are some instances where the mobile application may freeze or not run properly due to network issues, which may lead to critical situations. This is forcing vendors to invest in R&D to develop alternate solutions that ensure the safety and security of the products that operate via mobile applications. These factors might reduce the growth potential in the market.

Learn about additional key drivers, trends, and challenges available with Technavio. Request Sample Report Now

Segmentation Analysis

The smart ovens market report is segmented by product (smart microwave oven and small wall oven), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).

By product, the smart microwave oven segment will have the largest share of the market. The segment will register consistent growth due to improved living standards and increased interest in connectivity-enabled smart appliances. Also, increasing R&D on the development of technologically advanced smart microwave ovens is expected to foster the growth of the segment over the forecast period. Similarly, by distribution channel, the market growth will be significant in the offline distribution channel segment.

APAC will emerge as the dominant market, occupying 44% of the global market share. Factors such as increasing disposable income, the high purchasing power of customers, increasing awareness about smart cities, improving the standard of living, increasing rate of urbanization, and high penetration of the internet and smartphones among customers are driving the growth of the smart ovens market in APAC.

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Key Vendors in the Smart Ovens Market:

• AB Electrolux: The company offers smart ovens such as Smart Steam Ovens Electric Convection Oven.
• Haier Smart Home Co. Ltd.: The company offers smart ovens such as HIL2810EGCF and HIL2001.
• LG Electronics Inc.: The company offers smart ovens namely LG NeoChef.
• Arovast Corp.
• Breville USA Inc.
• Gain access to more vendor profiles with their key offerings available with Technavio. Buy Full Report Now

Related Reports:

Global Commercial Microwave Ovens Market 2021-2025: The global commercial microwave ovens market is segmented by product (commercial heavy-duty microwave oven, commercial medium-duty microwave oven, and commercial light-duty microwave oven) and geography (North America, Europe, APAC, South America, and MEA). The market will witness increased demand for commercial heavy-duty microwave ovens during the forecast period. North America to have the largest market share. View Report Snapshot Here

Global Microwave Oven Market 2021-2025: The global microwave oven market is segmented by end-user (residential and non-residential) and geography (APAC, North America, Europe, South America, and MEA). Residential end-users will exhibit high demand in the market. APAC will emerge as key growth region. View Report Snapshot Here

Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments
• Exhibit 25: Chart on Product - Market share 2021-2026 (%)
• Exhibit 26: Data Table on Product - Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 27: Chart on Comparison by Product
• Exhibit 28: Data Table on Comparison by Product

• 5.3 Smart microwave oven - Market size and forecast 2021-2026 
• Exhibit 29: Chart on Smart microwave oven - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on Smart microwave oven - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on Smart microwave oven - Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on Smart microwave oven - Year-over-year growth 2021-2026 (%)

• 5.4 Small wall oven - Market size and forecast 2021-2026 
• Exhibit 33: Chart on Small wall oven - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Small wall oven - Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Small wall oven - Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Small wall oven - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Product 
• Exhibit 37: Market opportunity by Product ($ million)

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 38: Chart on Distribution Channel - Market share 2021-2026 (%)
• Exhibit 39: Data Table on Distribution Channel - Market share 2021-2026 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 40: Chart on Comparison by Distribution Channel
• Exhibit 41: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2021-2026 
• Exhibit 42: Chart on Offline - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Offline - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Offline - Year-over-year growth 2021-2026 (%)

• 6.4 Online - Market size and forecast 2021-2026 
• Exhibit 46: Chart on Online - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Online - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Online - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Online - Year-over-year growth 2021-2026 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 50: Market opportunity by Distribution Channel ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 52: Chart on Market share by geography 2021-2026 (%)
• Exhibit 53: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 54: Chart on Geographic comparison
• Exhibit 55: Data Table on Geographic comparison

• 8.3 APAC - Market size and forecast 2021-2026 
• Exhibit 56: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 57: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 58: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 59: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 8.4 North America - Market size and forecast 2021-2026 
• Exhibit 60: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 62: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 63: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 8.5 Europe - Market size and forecast 2021-2026 
• Exhibit 64: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 66: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 67: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 8.6 South America - Market size and forecast 2021-2026 
• Exhibit 68: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 72: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 8.8 China - Market size and forecast 2021-2026 
• Exhibit 76: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on China - Year-over-year growth 2021-2026 (%)

• 8.9 US - Market size and forecast 2021-2026 
• Exhibit 80: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on US - Year-over-year growth 2021-2026 (%)

• 8.10 Japan - Market size and forecast 2021-2026 
• Exhibit 84: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 8.11 Germany - Market size and forecast 2021-2026 
• Exhibit 88: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 8.12 UK - Market size and forecast 2021-2026 
• Exhibit 92: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography 
• Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 97: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 99: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 100: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 101: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 102: Matrix on vendor position and classification

• 11.3 AB Electrolux
• Exhibit 103: AB Electrolux - Overview
• Exhibit 104: AB Electrolux - Business segments
• Exhibit 105: AB Electrolux - Key news
• Exhibit 106: AB Electrolux - Key offerings
• Exhibit 107: AB Electrolux - Segment focus

• 11.4 Breville USA Inc.
• Exhibit 108: Breville USA Inc. - Overview
• Exhibit 109: Breville USA Inc. - Product / Service
• Exhibit 110: Breville USA Inc. - Key offerings

• 11.5 Haier Smart Home Co. Ltd. 
• Exhibit 111: Haier Smart Home Co. Ltd. - Overview
• Exhibit 112: Haier Smart Home Co. Ltd. - Business segments
• Exhibit 113: Haier Smart Home Co. Ltd. - Key offerings
• Exhibit 114: Haier Smart Home Co. Ltd. - Segment focus

• 11.6 LG Electronics Inc.
• Exhibit 115: LG Electronics Inc. - Overview
• Exhibit 116: LG Electronics Inc. - Business segments
• Exhibit 117: LG Electronics Inc. - Key news
• Exhibit 118: LG Electronics Inc. - Key offerings
• Exhibit 119: LG Electronics Inc. - Segment focus

• 11.7 Panasonic Holdings Corp. 
• Exhibit 120: Panasonic Holdings Corp. - Overview
• Exhibit 121: Panasonic Holdings Corp. - Business segments
• Exhibit 122: Panasonic Holdings Corp. - Key news
• Exhibit 123: Panasonic Holdings Corp. - Key offerings
• Exhibit 124: Panasonic Holdings Corp. - Segment focus

• 11.8 Robert Bosch GmbH
• Exhibit 125: Robert Bosch GmbH - Overview
• Exhibit 126: Robert Bosch GmbH - Business segments
• Exhibit 127: Robert Bosch GmbH - Key news
• Exhibit 128: Robert Bosch GmbH - Key offerings
• Exhibit 129: Robert Bosch GmbH - Segment focus

• 11.9 Samsung Electronics Co. Ltd. 
• Exhibit 130: Samsung Electronics Co. Ltd. - Overview
• Exhibit 131: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 132: Samsung Electronics Co. Ltd. - Key news
• Exhibit 133: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 134: Samsung Electronics Co. Ltd. - Segment focus

• 11.10 Sharp Corp.
• Exhibit 135: Sharp Corp. - Overview
• Exhibit 136: Sharp Corp. - Business segments
• Exhibit 137: Sharp Corp. - Key news
• Exhibit 138: Sharp Corp. - Key offerings
• Exhibit 139: Sharp Corp. - Segment focus

• 11.11 Sub Zero Group Inc.
• Exhibit 140: Sub Zero Group Inc. - Overview
• Exhibit 141: Sub Zero Group Inc. - Product / Service
• Exhibit 142: Sub Zero Group Inc. - Key offerings

• 11.12 Whirlpool Corp.
• Exhibit 143: Whirlpool Corp. - Overview
• Exhibit 144: Whirlpool Corp. - Business segments
• Exhibit 145: Whirlpool Corp. - Key offerings
• Exhibit 146: Whirlpool Corp. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 147: Inclusions checklist
• Exhibit 148: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 149: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 150: Research methodology
• Exhibit 151: Validation techniques employed for market sizing
• Exhibit 152: Information sources

• 12.5 List of abbreviations 
• Exhibit 153: List of abbreviations

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