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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Smart Ovens Market Share
Residential Sector To Make The Maximum Use Of These Oven Owing To The Seamless Usage And Easy Functionality
As per smart ovens market analysis, the residential segment is expected to account for a significant portion of the smart ovens market over the forecast period due to various advantages offered by the product including enhanced connectivity, food visibility, and automatic detection of operating issues. The convenience of preheating the oven from anywhere with the help of a mobile application, for cooking at a later stage is making the entire process more convenient for working professionals and for large families. Regular diagnostics makes the owner aware of the faulty components and some smart ovens can also be programmed to make appointments with manufacturers for replacement of the faulty components.
Smart Ovens Market Report Snapshots
Smart Ovens Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The smart ovens market reached a value of approximately USD 282.23 million in 2023.
The market is projected to grow at a CAGR of 21.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1,640.63 million by 2032.
The major market drivers include rising demand for energy conserving electrical appliances and increasing demand for smart ovens in the food service sector.
The key trends fuelling the growth of the market include growing popularity of smart homes, rising disposable income and hectic lifestyle, and introduction of advanced features by manufacturers including self-cleaning.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various end-users of smart ovens include residential and commercial.
The key players in the global smart ovens market are Weber Inc., LG Corp., Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., Haier Group Corporation, Hitachi, Ltd., The Whirlpool Corporation, Sharp Corporation, Electrolux AB, and BSH Home Appliances Corporation, among others.
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