The Asia Pacific Smart Ovens Market would witness market growth of 20.1% CAGR during the forecast period (2020-2026).
A smart oven enables various remote activities such as cooking temperature, setting the oven to preheat, and even shutting off the oven through smartphones. In addition, smart ovens can be linked to digital platforms such as Yummly, a food app and digital recipe app. Smart ovens will automatically read instructions from these platforms and execute functions such as preheating, cooking food as instructed, and then switch off on orders. As a result, smart ovens provide consumers with great comfort and thus fuel their market growth.
The market for smart ovens has experienced an upsurge of technical advances in the last two years. Recent steps have also been taken for the advancement of sensor technologies that will empower adaptable, security-driven smart systems. Smart sensing has increased the overall safety of smart ovens while cooking. Unmonitored cooking is one of the key factors responsible for cooking fires. As a result, sophisticated sensors are currently being developed, allowing contextual data acquisition around the oven that is troubling to users for fire hazards. These safety features are expected to further increase the demand for smart ovens in the forecast.
Demand for quick and safer food consumption is a core driver of demand for ovens, which, in turn, fuels market growth in smart ovens. Smart ovens cook meals quicker and keep food nutrients intact, delivering delicious and nutritious cooking in a matter of minutes. Smart ovens are energy intensive and fitted with several balanced cooking functions that suit the ever-changing needs of customers. In addition, the increase in the rise of wired home appliances has created many new growth prospects and profitable prospects for players operating on the industry.
Based on Type, the market is segmented into Counter-top and Built-in. Based on End User, the market is segmented into Residential and Commercial. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include LG Corporation (LG Electronics), Whirlpool Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Sharp Corporation, Hitachi, Ltd., Robert Bosch GmbH, Techtronic Industries Co., Ltd., Tovala, June Life, Inc.
Scope of the Study
- Counter-top and
By End User
- Residential and
By Distribution Channel
- South Korea
- Rest of Asia Pacific
- LG Corporation (LG Electronics)
- Whirlpool Corporation
- Samsung Electronics Co., Ltd. (Samsung Group)
- Panasonic Corporation
- Sharp Corporation
- Hitachi, Ltd.
- Robert Bosch GmbH
- Techtronic Industries Co., Ltd.
- June Life, Inc.
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