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Smart Ovens Market by Type, End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026

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    Report

  • 263 Pages
  • February 2020
  • Region: Global
  • Allied Market Research
  • ID: 5019951
Description Jump to:
Smart ovens are next generation kitchen appliances, facilitated with advanced features for receiving, processing, and transmitting information using smartphones. Smart ovens are an electric range of microwaves that includes Bluetooth or Wi-Fi. Smart ovens are connected to device or a companion app.

The key factors that drive the growth of the smart ovens market include growth in expenditure on kitchen appliances, increased in disposable income, and continuous product innovation. Moreover, increasing popularity of smart ovens, and availability of smart ovens on online channels have provided impetus to the growing market. However, factor such as high cost of smart ovens is expected to impede the market growth. Furthermore, novel innovations in aesthetics and introduction of advanced sensors, voice control and multiple cooking options in smart ovens to gain huge traction in the coming years, which in turn are anticipated to create lucrative opportunities for the market expansion in the upcoming future.

The global smart ovens market is segmented into type, end user, sales channel and region. Based on type the global smart ovens market is studied across built-in and counter top. On the basis of end user, the smart ovens market is bifurcated into residential and commercial. Based on sales channel the global market is segmented into offline channels and online channels. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA

Some of the key players in the smart ovens market analysis includes June Life Inc., LG Electronics, Panasonic Corporation, Samsung Electronics Co. Ltd., Qingdao Haier Co., Ltd. (Haier), Hitachi, Ltd, Whirlpool Corporation, Sharp Corporation, AB Electrolux, Tovala among others

KEY BENEFITS FOR STAKEHOLDERS
  • The report provides an extensive analysis of the current and emerging market trends and opportunities in the global smart ovens market.
  • The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
  • A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
  • An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Smart ovens Segments

By Type
  • Built In
  • Counter Top

By End User
  • Residential
  • Commercial

By Sales Channel
  • Offline Channel
  • Online Channel

By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
  • Asia-pacific
  • China
  • India
  • Japan
  • Australia and New Zealand
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players
  • June Life Inc.
  • LG Electronics
  • Panasonic Corporation
  • Samsung Electronics Co. Ltd.
  • Qingdao Haier Co., Ltd. (Haier)
  • Hitachi, Ltd
  • Whirlpool Corporation
  • Sharp Corporation
  • AB Electrolux
  • Tovala

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Porter's five forces analysis
3.2.1. Bargaining power of suppliers
3.2.2. Bargaining power of buyers
3.2.3. Threat of substitution
3.2.4. Threat of new entrants
3.2.5. Intensity of competitive rivalry
3.3. Supply chain analysis
3.4. Parent market overview
3.5. Smart ovens Market Pricing Analysis
3.6. Market dynamics
3.6.1. Drivers
3.6.1.1. Advancement in Smart ovens features to usher market expansion
3.6.1.1. Technological innovations in smart ovens
3.6.1.2. Increasing demand for ready to eat food
3.6.2. Restraints
3.6.2.1. Availability of cost-effective counterparts to dissuade market growth
3.6.3. Opportunities
3.6.3.1. Expanding into developing countries by creating product awareness
3.6.3.2. Voice control smart ovens to gain wide traction in the upcoming years
CHAPTER 4: GLOBAL SMART OVENS MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast, by type
4.2. Built In
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Counter Top
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
CHAPTER 5: GLOBAL SMART OVENS MARKET, BY END USER
5.1. Overview
5.1.1. Market size and forecast, by end user
5.2. Residential
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Commercial
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
CHAPTER 6: GLOBAL SMART OVENS MARKET, BY SALES CHANNEL
6.1. Overview
6.1.1. Market size and forecast, by sales Channel
6.2. Offline Channels
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Online Channels
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country
CHAPTER 7: SMART OVENS MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast, by Region
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by type
7.2.3. Market size and forecast, by end user
7.2.4. Market size and forecast, by sales Channel
7.2.5. Market analysis, by country
7.2.5.1. U.S.
7.2.5.1.1. Market size and forecast, by type
7.2.5.1.2. Market size and forecast, by end user
7.2.5.1.3. Market size and forecast, by sales Channel
7.2.5.2. CANADA
7.2.5.2.1. Market size and forecast, by type
7.2.5.2.2. Market size and forecast, by end user
7.2.5.2.3. Market size and forecast, by sales Channel
7.2.5.3. MEXICO
7.2.5.3.1. Market size and forecast, by type
7.2.5.3.2. Market size and forecast, by end user
7.2.5.3.3. Market size and forecast, by sales Channel
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by type
7.3.3. Market size and forecast, by end user
7.3.4. Market size and forecast, by sales channel
7.3.5. Market analysis, by country
7.3.5.1. UK
7.3.5.1.1. Market size and forecast, by type
7.3.5.1.2. Market size and forecast, by end user
7.3.5.1.3. Market size and forecast, by sales Channel
7.3.5.3. GERMANY
7.3.5.3.1. Market size and forecast, by type
7.3.5.3.2. Market size and forecast, by end user
7.3.5.3.3. Market size and forecast, by sales Channel
7.3.5.5. France
7.3.5.5.1. Market size and forecast, by type
7.3.5.5.2. Market size and forecast, by end user
7.3.5.5.3. Market size and forecast, by sales Channel
7.3.5.7. SPAIN
7.3.5.7.1. Market size and forecast, by type
7.3.5.7.2. Market size and forecast, by end user
7.3.5.7.3. Market size and forecast, by sales Channel
7.3.5.8. REST OF EUROPE
7.3.5.8.1. Market size and forecast, by type
7.3.5.8.2. Market size and forecast, by end user
7.3.5.8.3. Market size and forecast, by sales Channel
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by type
7.4.3. Market size and forecast, by end user
7.4.4. Market size and forecast, by sales channel
7.4.5. Market analysis, by country
7.4.5.1. CHINA
7.4.5.1.1. Market size and forecast, by type
7.4.5.1.2. Market size and forecast, by end user
7.4.5.1.3. Market size and forecast, by sales Channel
7.4.5.3. INDIA
7.4.5.3.1. Market size and forecast, by type
7.4.5.3.2. Market size and forecast, by end user
7.4.5.3.3. Market size and forecast, by sales Channel
7.4.5.5. JAPAN
7.4.5.5.1. Market size and forecast, by type
7.4.5.5.2. Market size and forecast, by end user
7.4.5.5.3. Market size and forecast, by sales Channel
7.4.5.7. AUSTRALIA AND NEW ZEALAND
7.4.5.7.1. Market size and forecast, by type
7.4.5.7.2. Market size and forecast, by end user
7.4.5.7.3. Market size and forecast, by sales Channel
7.4.5.8. REST OF ASIA-PACIFIC
7.4.5.8.1. Market size and forecast, by type
7.4.5.8.2. Market size and forecast, by end user
7.4.5.8.3. Market size and forecast, by sales Channel
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by type
7.5.3. Market size and forecast, by end user
7.5.4. Market size and forecast, by sales Channel
7.5.5. Market analysis, by country
7.5.5.1. LATIN AMERICA
7.5.5.1.1. Market size and forecast, by type
7.5.5.1.2. Market size and forecast, by end user
7.5.5.1.3. Market size and forecast, by sales Channel
7.5.5.2. MIDDLE EAST
7.5.5.2.1. Market size and forecast, by type
7.5.5.2.2. Market size and forecast, by end user
7.5.5.2.3. Market size and forecast, by sales Channel
7.5.5.3. AFRICA
7.5.5.3.1. Market size and forecast, by type
7.5.5.3.2. Market size and forecast, by end user
7.5.5.3.3. Market size and forecast, by sales Channel
CHAPTER 8: COMPETITION LANDSCAPE
8.1. Competitive Dashboard
8.2. Product Mapping
8.3. Competitive Heatmap
8.4. Top winning strategies
8.5. Key developments
8.5.1. Business expansion
8.5.2. Product launch
8.5.3. Acquisition
8.5.4. Collaboration
8.5.5. Partnership
8.5.6. Merger
8.5.7. Joint Venture
CHAPTER 9: COMPANY PROFILES
9.1. June Life Inc.
9.1.1. Company overview
9.1.2. Key Executives
9.1.3. Company snapshot
9.1.4. Product portfolio
9.1.5. Key strategic moves and developments
9.2. LG Electronics
9.2.1. Company overview
9.2.2. Key Executive
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.2.7. Key strategic moves and developments
9.3. Panasonic Corporation
9.3.1. Company overview
9.3.2. Key Executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. R&D Expenditure
9.3.7. Business performance
9.3.8. Key strategic moves and developments
9.4. SAMSUNG ELECTRONICS CO. LTD.
9.4.1. Company overview
9.4.2. Key Executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. R&D Expenditure
9.4.7. Business performance
9.4.8. Key strategic moves and developments
9.5. QINGDAO HAIER CO., LTD.
9.5.1. Company overview
9.5.2. Key Executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. HITACHI, LTD
9.6.1. Company overview
9.6.2. Key Executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Business performance
9.6.7. Key strategic moves and developments
9.7. WHIRLPOOL CORPORATION
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Operating business segments
9.7.4. Product portfolio
9.7.5. R&D Expenditure
9.7.6. Business performance
9.7.7. Key strategic moves and developments
9.8. SHARP CORPORATION
9.8.1. Company overview
9.8.2. Key Executives
9.8.3. Operating business segments
9.8.4. Product portfolio
9.8.5. R&D Expenditure
9.8.6. Business performance
9.8.7. Key strategic moves and developments
9.9. AB Electrolux
9.9.1. Company overview
9.9.2. Key Executives
9.9.3. Company snapshot
9.9.4. Product portfolio
9.9.5. Operating business segments
9.9.6. R&D Expenditure
9.9.7. Business performance
9.9.8. Key strategic moves and developments
9.10. Tovala
9.10.1. Company overview
9.10.2. Key Executives
9.10.3. Company snapshot
9.10.4. Product portfolio
9.10.5. Key strategic moves and developments

Executive Summary

According to the report titled 'Smart Ovens Market by Type, End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global smart ovens market size was valued at $169.8 million in 2018, and is projected to reach $501.4 million by 2026, registering a CAGR of 14.6% from 2019 to 2026.

Presently, consumers prefer appliances equipped with latest technologies and advanced features. Several companies operating in the market are offering smart ovens, which can be remotely operated through devices such as smartphones. Latest developments in the market includes launch of GE PROFILE SERIES 30” microwave oven, whose functions can be controlled wirelessly from a consumer’s smartphone. The adoption of smart ovens is higher in developed nations such as America and Europe. It is anticipated that developing economies such as India and Brazil would significantly contribute to the growth of the smart ovens industry in the years to come.

Rise in demand for premium and technologically advanced kitchen appliances has been witnessed in recent years. As a result, engaged stakeholders in the industry are now launching voice controlled smart ovens to cater to the growing demand from tech-savvy consumers. For instance, Amazon introduced Amazon Basics Microwave, which can be controlled with Alexa. Furthermore, the product is a combination of microwave, convection cooker, air fryer, and food warmer. Introduction of such technological advancements is anticipated to foster demand for smart ovens.

Changing lifestyle pattern of individuals has increased the demand for frozen and ready-to-eat foods. Working population of the society prefer using ovens for cooking such food items due to time constraints and hectic life schedules. Increasing popularity of frozen and ready-to-eat food products among customers has significantly boosted the demand for ovens, especially in developing Asian countries. As smart ovens are providing additional benefits when compared to traditional ovens, demand for smart ovens is likely to increase substantially in the coming years.

According to Shankar Bhandalkar, Team Lead-Research, Consumer Goods, “The demand for smart ovens market is likely to increase multifold in the upcoming years. Buoyed by the surge in internet penetration and expanding market share of e-commerce platform players in the smart ovens market are aiming to launch more products for the online buyers around the world.

The global smart ovens market is segmented into type, end user, sales channel, and region. By type, it is studied across built-in and counter top. On the basis of end user, it is bifurcated into residential and commercial. On the basis of sales channel, is divided into offline channels and online channels. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

KEY FINDINGS OF THE STUDY
  • North America leads in terms of smart ovens market share for the year 2018 and is expected to retain its dominance during the forecast period.
  • The counter top smart segment was the highest contributor to the global smart ovens market in the year 2018, with $114.2 million in 2018, and is estimated to reach $348.6 million by 2026, at a CAGR of 15.1% during the forecast period.
  • The residential segment leads in terms of global smart ovens market demand for the year 2018 and is likely to grow at an estimated CAGR of 15% during the forecast period
  • The online sales channel is expected to gain wide traction in the coming years, owing to venturing of leading market players in the omni channel strategy for its distribution channel.
  • U.S. leads in terms of global demand for smart ovens for the year 2018, however, India is projected to grow with the highest CAGR of 18.8%, during the forecast period.
  • Region wise, Asia-Pacific is anticipated to grow with robust CAGR of 16.6% during the forecast period.

Some of the key players in the smart ovens market analysis includes June Life Inc., LG Electronics, Panasonic Corporation, Samsung Electronics Co. Ltd., Qingdao Haier Co., Ltd. (Haier), Hitachi, Ltd, Whirlpool Corporation, Sharp Corporation, AB Electrolux, Tovala.

Companies Mentioned

  • June Life Inc.
  • LG Electronics
  • Panasonic Corporation
  • Samsung Electronics Co. Ltd.
  • Qingdao Haier Co. Ltd. (Haier)
  • Hitachi Ltd
  • Whirlpool Corporation
  • Sharp Corporation
  • AB Electrolux
  • Tovala.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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