Smart Oven Market Valuation to Reach USD 600 Million by 2030 at 18% CAGR – Report by Market Research Future (MRFR) – GlobeNewswire

New York, US, May 04, 2022 (GLOBE NEWSWIRE) — Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Smart Oven Market Information by Application, Structure, Capacity, Distribution Channel, End User and Region – Forecast till 2030”, the market is estimated to acquire a size of over USD 600 million by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 18% during the review timeframe.

Market Scope:

Smart ovens are the next generation of kitchen equipment, featuring advanced capabilities such as the ability to receive, process, and transmit data through smartphones. Electric microwaves with Bluetooth or Wi-Fi capabilities are known as smart ovens. These ovens can be controlled by an app or connected to other devices. The companion app allows users to control and regulate smart ovens from afar. It can also be programmed to perform automatic tasks.

Smart ovens with voice controls and smart home gadgets have been introduced in recent years. Amazon Echo and Google Home can be used to control linked smart ovens via voice commands. These ovens provide all of the regular functions as well as additional settings and customizations.

Competitive Landscape:

Some of the key companies profiled in the global smart oven market include:

  • Bsh Home Appliances Corporation (Robert Bosch GmbH)
  • Breville Group Limited
  • Haier Group
  • Electrolux AB
  • Panasonic Corporation
  • LG Electronics Inc.
  • Sharp Corporation
  • Samsung Electronics Co. Ltd.
  • Sub-Zero Group Inc.
  • Whirlpool Corporation

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Market USP:

Market Drivers

Consumer appliances are constantly improving and adding new features to meet the demands of today’s consumers. At the International Home & Housewares Show, a new smart oven concept was unveiled. This oven was created to let consumers control their food even when they are not at home. The smart oven has a number of useful features, including voice control technology and notifications. The oven also comes with a touchscreen display with an easy interface that allows users to quickly access options and set the oven. These characteristics are certain to boost sales of the new oven and the industry as a whole.

The global market for ready-to-eat food is growing at a breakneck pace. This tendency is projected to continue in the future, bolstering the smart oven market’s growth. The market is primarily driven by the growing use of smart ovens in the industrial sector, as well as increased demand for convenience foods. The convenience factor is boosted even further by the growing availability of ovens, freezers, and other culinary facilities that make cooking and food preparation easier.

Market Restraints:

Users of smartphones and the internet are afraid that their personal information, such as their name, home address, email address, and credit card details, could be misused if shared and accessed. Furthermore, smart ovens are primarily managed by company-developed smartphone applications, which capture consumer data, prompting consumer worries about data privacy. As a result, privacy issues may stymie the smart oven market’s growth.

Browse In-depth Market Research Report (100 Pages) on Smart Oven:

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