Global Smart Oven Industry was valued at USD 96.1 Million in the year 2017. Global Smart Oven Industry is further estimated to grow at a CAGR of 20% from 2019 to reach USD 408.60 Million by the year 2025. The North America region holds the highest Industry share in 2017 and the Asia Pacific is considered as the fastest growing Industry in the forecasted period. At country level, China and India are projected to grow strongly in the coming years in view of increasing urban population.
Major market players in Smart Oven Industry are Electrolux, GE Appliances, Breville Group Ltd, SAMSUNG, Candy Hooper Group Srl, BSH Home Appliances, Dacor Inc., Haier Inc., LG Electronics., Tovala, and brief overview of 10 companies is also provided in the report. Rising research and development expenses catering to changing demand of end users. Similarly, growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT analysis of Smart Oven Industry
Changing lifestyle and improved living standards
Efficiency of smart ovens – timely alerts etc.
Expensive and not so cost friendly
Demand for Wi-Fi connectivity
Increasing preference for trendy appliances
Intense competition among the producers.
The Global Smart Oven Industry is segmented as By Type, Structure, Distribution Channel, Capacity and Region. The Type segment is divided into a single function and multiple functions in which the multiple function smart ovens, contributes to the highest Industry share due to a variety of features offered by it. By Structure, it is divided as built-in smart ovens and countertop in which, built – in the smart ovens segment have the highest share in the Industry and is expected to grow at a moderate CAGR of XX%.
Smart Oven Industry Segmentation:
By Distribution Channel
• E-commerce websites
• Electrical appliances stores.
• By Capacity
• Above 30
• Single function
• Multiple functions
• By Structure
• Built-in smart ovens
• Counter Top
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa