Smart Oven Market

Smart Oven Market Outlook (2023 to 2033)

As per Fact.MR, the size of the global smart oven market is estimated at US$ 293.18 million in 2023 and is projected to expand at a high-value CAGR of 20.5% to reach US$ 1.89 billion by 2033.

A smart oven is an advanced kitchen appliance with a range of functionalities, allowing users to make adjustments effortlessly with just a button press. While its core features resemble those of traditional ovens, smart ovens are designed to be more user-friendly and of high speed, due to the integration of smart technologies such as the Internet of Things (IoT) and artificial intelligence (AI). These technologies enhance automation and streamline the cooking process, making it simpler and more convenient for users.

Smart ovens can be connected to a Wi-Fi network, allowing the user to control and monitor them remotely through smartphone apps or other smart devices. This means users can preheat the oven, adjust cooking settings, and check cooking progress from anywhere with an internet connection. They can also be easily connected to other smart home appliances such as Amazon’s Alexa and more.

• Worldwide sales of built-in smart ovens are foreseen to rise at a CAGR of 21.5% from 2023 to 2033.

Smart ovens are available in both built-in and countertop structures. The rising demand for built-in smart ovens is particularly evident in the context of modern kitchen designs, especially in modular kitchen layouts. Consumers today are increasingly seeking home automation systems that offer convenience, efficiency, and seamless integration of various appliances. As a result, built-in smart ovens have become a key component in meeting these expectations.

Modular kitchen designs are gaining immense popularity due to their efficient use of space and the ability to customize the kitchen according to individual preferences. Built-in smart ovens fit perfectly into these designs, as they can be seamlessly integrated into cabinetry, creating a sleek and cohesive look.

Residential property developers are recognizing the importance of modern and advanced kitchen appliances as a selling point for new homes. To attract potential buyers and cater to the growing demand for smart home features, developers are including built-in smart ovens and other high-tech kitchen amenities in their offerings.

Offering built-in smart ovens as part of the kitchen package can positively influence purchase decisions for new homeowners. Inclusion of such advanced appliances elevates the perceived value of the property and provides developers with a competitive edge in the real estate market.

Built-in smart ovens add a touch of sophistication and modernity to kitchen spaces. For consumers who seek upscale and luxurious living, these advanced appliances are seen as desirable features that enhance the overall value and appeal of the property.

Report Attributes	Details
Smart Oven Market Size (2023E)	US$ 293.18 Million
Forecasted Market Value (2033F)	US$ 1.89 Billion
Global Market Growth Rate (2023 to 2033)	20.5% CAGR
Canada Market Growth Rate (2023 to 2033)	17.5% CAGR
Germany Market Growth Rate (2023 to 2033)	15% CAGR
Japan Market Growth Rate (2023 to 2033)	18.5% CAGR
China Market Growth Rate (2023 to 2033)	19.5% CAGR
Key Companies Profiled	Breville Group Ltd. BSH Home Appliances Corporation Candy Hoover Group Srl Dacor, Inc. Electrolux AB GE Appliances LG Electronics Inc. Samsung Electronics Co., Ltd. Sub-Zero Group, Inc. Tovala

What are the Market Trends Benefitting Smart Oven Manufacturers?

“High Demand for Smart Ovens among Millennials Due to Their Convenience, Efficiency, and Lifestyle Benefits”

One of the defining characteristics of millennials is their deep-rooted relationship with technology. Having grown up in an era of rapid technological advancements, they are exceptionally comfortable and adept at using digital tools and devices. This tech-savvy nature extends to their purchasing behavior, as they actively seek out products that integrate innovative technologies and offer enhanced functionalities.

Among smart kitchen appliances, smart ovens are garnering significant attention from many millennials. These technologically advanced ovens are equipped with a variety of features that enhance cooking experiences and align perfectly with the fast-paced, digitally connected lifestyle that millennials lead.

Smart ovens can be controlled and monitored remotely through smartphone apps. This feature appeals to millennials who appreciate the convenience of being able to preheat their ovens or check cooking progress while they are away from the kitchen.

Popularity of smart ovens among millennials has not gone unnoticed by manufacturers and retailers. Consequently, they are actively targeting this demographic through marketing campaigns that emphasize the convenience, efficiency, and lifestyle benefits of these tech-infused appliances.

“Increasing Integration of Voice Control Capabilities in Smart Ovens”

Technological advancements such as voice control, remote monitoring, & interchangeable attachments in smart ovens are revolutionizing the way people approach cooking, and these innovations are significantly boosting smart oven sales. Smart ovens are equipped with advanced sensors and algorithms that accurately measure and regulate cooking temperatures. This ensures that dishes are cooked evenly and to perfection, eliminating the guesswork often associated with traditional ovens. Whether it is baking, roasting, or broiling, the precise cooking capabilities of smart ovens yield consistent and delicious results.

Smart ovens integrate voice assistants such as Amazon Alexa or Google Assistant. This feature enables hands-free operation, allowing users to control various oven functions, set timers, or adjust temperatures using simple voice commands. Voice control is particularly convenient when users have their hands full or are busy multitasking in the kitchen.

Through smartphone apps, smart ovens enable users to monitor and control their cooking processes remotely. This feature allows individuals to check on the progress of their dishes, adjust settings, or preheat the oven before arriving home. Remote monitoring provides convenience and peace of mind, making smart ovens a practical choice for those with busy schedules.

Some smart ovens come with interchangeable attachments that expand their cooking capabilities. These attachments can include air fryer baskets, pizza stones, rotisserie spits, and more. Such versatility appeals to consumers looking to maximize their cooking potential with a single appliance.

What Challenges are Faced by Producers of Smart Ovens?

“Lack of Interoperability of Smart Ovens with Other Smart Home Devices and Risk of Misinterpretation of Voice Commands”

Smart ovens tend to be more expensive than traditional ovens, primarily due to the integration of advanced technologies and features. The higher price point can deter price-sensitive consumers from adopting smart ovens, limiting market penetration.

Despite the growing popularity of smart appliances, there is still a lack of awareness and understanding among some consumers regarding the benefits and functionalities of smart ovens. Many people may not fully comprehend the added value that these appliances can bring to their cooking experiences.

Smart ovens often require connectivity with other smart home devices or platforms, such as smart assistants or smartphone apps, for full functionality. Issues related to compatibility and interoperability with existing smart home setups can create confusion and frustration for consumers. The performance of smart ovens heavily relies on stable internet connectivity. Any disruptions in internet service can affect their functionality, potentially leading to dissatisfaction among users.

Similar to any connected device, smart ovens can experience software bugs and glitches that affect their performance. These issues lead to erroneous readings of temperature, incorrect cooking time, or unexpected malfunctions, resulting in undercooked or overcooked food. Such incidents can undermine the reliability and perceived value of smart ovens. While voice control is a convenient feature, technical errors in voice recognition can lead to misinterpretation of commands or failure to execute them correctly.

How are New Smart Oven Manufacturers Looking to Enhance Their Market Share?

“New Companies Focusing on Providing Cost-effective Smart Ovens and Collaborating with Social Media Influencers”

New companies should prioritize innovation and bring unique features to the table that differentiate their smart ovens from established brands. This could involve introducing cutting-edge technologies, novel cooking capabilities, or user-friendly interfaces that resonate with consumers seeking something new and exciting. Designing smart ovens with a strong focus on user experience and aesthetics can make a significant impact. Intuitive controls, easy setup, and a visually appealing product design can help new entrants attract customers who value both functionality and aesthetics in their kitchen appliances.

Offering smart ovens at a competitive price point can be an effective strategy to gain high market shares. By pricing their products more attractively compared to established brands, newcomers can entice budget-conscious consumers to try out their offerings. New entrants need to invest in effective marketing strategies to create awareness and generate interest in their smart ovens. This could involve leveraging social media, influencer partnerships, product demonstrations, and targeted advertising to reach potential customers.

Country-wise Analysis

Why are Smart Ovens in Such High Demand in the United States?

“Growing Demand for Smart Kitchen Appliances with Remote Accessibility and Seamless Connectivity”

The smart oven market in the United States is expanding at a significant rate due to rapid technological advancements and the modernization of devices and infrastructure. Consumers' increasing preference for innovative and smart appliances to complement their smart homes is a key driver behind the surge in smart oven sales.

Demand for smart ovens is further propelled by their remote accessibility and seamless connectivity with other kitchen appliances and devices such as smart lights, smoke sensors, and chimneys, fostering a seamless and integrated cooking experience.

Evolving lifestyle patterns and rising per capita income are also influencing consumers’ demand for superior home appliances, including smart ovens. As people seek convenience, efficiency, and enhanced cooking experiences, the appeal of smart ovens continues to grow in the United States.

How are Sales of Smart Ovens Faring in Germany?

“Emphasis of Manufacturers on Innovation & Technological Advancements”

Demand for smart ovens in Germany is estimated to rise at a CAGR of 15% through 2033. Consumers are increasingly seeking smart home appliances that integrate seamlessly into their modern lifestyles. Smart ovens are one of the most sought-after appliances in German households.

Presence of companies such as BSH Hausgeräte GmbH and Robert Bosch is a major factor driving the growth of the German market. Germany's position as a leader in technological advancements is significantly contributing to the increasing demand for smart ovens in the country.

Known for its engineering prowess and innovation-driven industries, Germany has a robust ecosystem that fosters research and development initiatives, making it a hotbed for cutting-edge technologies.

Why is the Smart Oven a Popular Home Appliance in Japan?

“Fast-Paced Lifestyle and Increasing Preference for Time-Saving Features in Cooking Appliances”

Sales of smart ovens in Japan are forecasted to rise at a CAGR of 18.5% during the forecast period.

The fast-paced lifestyle in Japan significantly contributes to the growing demand for smart home appliances, including smart ovens. The integration of time-saving features, convenience, and advanced technology makes smart ovens an appealing choice for busy individuals in Japan who seek to streamline their cooking processes and effectively manage their households.

As the demand for smart home appliances continues to grow, Japanese manufacturers are likely to further innovate and expand their offerings, making these devices even more appealing to consumers with busy lifestyles.

Category-wise Analysis

In Which Sector are Smart Ovens Widely Utilized?

“High Use of Smart Ovens in Residential Sector Driven by Their Convenience, Energy Efficiency, and Remote Monitoring Capabilities”

Demand for smart ovens is high in the residential sector due to several compelling factors that cater to the needs and preferences of modern homeowners. Smart ovens come equipped with various features that make cooking more convenient and time-efficient.

Many smart ovens are designed to be energy-efficient, utilizing features such as improved insulation and energy-saving modes. Homeowners are increasingly conscious of their environmental impact and appreciate appliances that help reduce energy consumption and utility costs.

With smart ovens, homeowners can remotely monitor cooking progress and make adjustments via smartphone apps. This flexibility allows them to multitask or attend to other responsibilities while ensuring their meals are prepared to perfection. As technology becomes an integral part of daily life, there is a growing demographic of tech-savvy consumers who are eager to embrace innovative solutions that simplify and enhance their everyday routines.

Competitive Landscape

Key players in the global smart oven market are emphasizing expanding their manufacturing facilities through investments. This is boosting their capability for the production of cutting-edge ovens. They are also entering into collaborations and partnerships to expand their consumer base and revenue shares.

• In 2022, Haier unveiled its latest oven, equipped with cutting-edge AI technology and featuring innovative PreciTaste capabilities. This state-of-the-art appliance boasts an automatic start-up sensor, adding convenience and ease to the cooking process. With this exciting product launch, Haier is expanding its market reach and further establishing itself as a leader in home appliances.

Key Segments of Smart Oven Industry Research

• By Structure :

  • Built-in
  • Countertop

• By Connectivity :

  • Bluetooth
  • Wi-Fi
  • NFC

• By Capacity :

  • 20 to 25 Liters
  • 26 to 30 Liters
  • Above 30 Liters

• By Application :

  • Residential
  • Commercial

• By Distribution Channel :

  • Online
  • Offline

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA