Smart Oven Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Single Function, Multi-Function); Structure Type (Built-in, Counter Top); Connectivity (Bluetooth, Wi-Fi, NFC, Others); Application (Residential, Commercial); Distribution channel (Electronic Stores, Online) and Geography
Report Code: TIPRE00010494
| No. of Pages: 150
| Category: Electronics and Semiconductor
| Status: Upcoming
A smart oven is an electronic appliance which includes a Bluetooth or Wi-Fi to connect the smart oven to a companion app. The app lets the user set automatic functions or control the appliance remotely. Most smart ovens are equipped with smart home features that allow the user to control cooking from a smartphone or a smart assistant. Smart ovens provide quicker, smarter, and efficient cooking as they have pre-set for different food, which ensures the best results.
The "Global Smart Oven Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart oven market with detailed market segmentation by type, structure type, connectivity, application, distribution channel, and geography. The report provides key statistics on the market status of the leading smart oven market players and offers key trends and opportunities in the market.
Based on type, the global smart oven market is segmented into single function and multi-function.
On the basis of structure type, the market is segmented into built-in and counter top.
Based on connectivity, the market is segmented into bluetooth, Wi-Fi, NFC, and others.
Based on application, the market is segmented into residential and commercial.
Based on distribution channel, the market is segmented into electronic stores, and online.
MARKET DYNAMICS Drivers:
The increasing number of women joining the workforce has left them with little time to do household chores such as cooking and baking. A number of women are seeking the use of smart ovens for hassle-free cooking carried out with minimum efforts. With the increased participation of women in the workforce and the rising household income has led to significant sales of smart ovens. Developments in the Internet of Things (IoT) technology, rising ownership of smartphones, and advancements in the field of artificial technology have fostered a conducive environment for the growth of the smart ovens market.
The penetration of internet technology in urban as well as rural areas and digitization initiatives undertaken by governments across the world are likely to augment the sales of smart ovens in the forecast period.
High cost may hinder the growth of the smart oven market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart oven market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart oven market in these regions.
IMPACT OF COVID-19 ON SMART OVEN MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report covers key developments in the smart oven market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart oven market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart oven market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
BSH Hausgeräte GmbH
Candy Hoover Group S.r.l.
June Life, Inc.
TTK Prestige Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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The List of Companies
1. BSH Hausgeräte GmbH
2. Candy Hoover Group S.r.l.
3. Dacor, Inc.
4. AB Electrolux
5. Haier Group
6. June Life, Inc.
7. LG Electronics
8. Panasonic Corporation
9. SHARP CORPORATION
10. TTK Prestige Ltd