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Global Smart Oven Market 2016-2020

About Smart Ovens

With advances in technology and the emergence of smart homes, integrated home appliances that can be connected to smartphones and allow monitoring from remote locations are gaining popularity. With improvement in network infrastructure, broadband and Internet penetration has increased, and consumers are increasingly opting for wireless and technologically advanced products to ensure convenience. In order to improve their product offerings and leverage on the trend of home automation, vendors are expanding their distribution channels and R&D expenditure. As the trend toward home automation and smart homes gains traction, the smart oven market will grow.

Technavio’s analysts forecast the global smart oven market to grow at a CAGR of 25.95% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global smart oven market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the sale of smart ovens to the residential segment.

The market is divided into the following segments based on geography:

  • APAC
  • Europe
  • North America
  • ROW
Technavio's report, Global Smart Oven Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Dacor
  • Electrolux
  • GE
  • LG
  • Samsung
Other prominent vendors
  • Bosch
  • Haier
  • June
  • Panasonic
  • Sharp
  • Whirlpool
Market driver
  • Adoption of broadband and home network
  • For a full, detailed list, view our report
Market challenge
  • Threat from traditional microwave ovens
  • For a full, detailed list, view our report
Market trend
  • Strong distribution channels
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Smart Oven Market 2016-2020

Technavio recognizes the following companies as the key players in the global smart oven market: Dacor, Electrolux, GE, LG Electronics, and Samsung.

Other Prominent Vendors in the market are: Bosch, Haier, June, Panasonic, Sharp, and Whirlpool.

Commenting on the report, an analyst from Technavio’s team said: “Strong distribution channels will be a key trend for market growth. With the increasing penetration of the Internet and e-commerce, leading brands are focusing on delivering improved sales experience. Vendors in the market are focusing on improving the distribution channels. They are investing more in devising account management and supply chain management strategies along with enhancing product offerings. Players are launching informative and interactive websites to increase their customer reach, promote their products, and provide expert advice on their usage.”

According to the report, one of the key drivers will be investing on new kitchen designs. With the increase in disposable income and improvement in the standards of living, consumers are investing more in renovating their kitchens. Consumers prefer minimal and sophisticated designs that are easy to maintain and include optimum and compact storage. The changes in trends and consumer preferences have caused vendors to add new streamlined appliances to their portfolio. The demand for built-in appliances market is also growing. This has prompted appliance vendors to introduce smart wall ovens in their product offerings. Apart from saving counter-space, smart wall ovens also add aesthetic appeal to the kitchen.

Further, the report states that high initial investment will be a challenge for the market. As smart ovens are more expensive than conventional ovens, many residential customers are reluctant to invest in the product. Some users believe that RoI for them is negligible and that the costs outweigh the benefits. In addition to the initial investment, other expenses such as maintenance costs are also high, which in turn discourages many end-users from adopting these products. The consumers often consider the value added by these appliances too low and instead, prefer other technologically advanced products with manual control settings. However, the average selling price (ASP) of smart ovens is expected to fall in the forecast period by nearly 22%, which can drive market growth.

Companies Mentioned

Dacor, Electrolux, GE, LG Electronics, Samsung, Bosch, Haier, June, Panasonic, Sharp, Whirlpool.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Timeline of smart homes
      • Table Evolution in smart technologies
    • Global smart appliances market
      • Table Global smart appliances market 2015-2020 ($ billions)
      • Table Product lifecycle of smart appliances
    • Global smart oven market
      • Table Global smart oven market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product
    • Table Global smart oven market by product 2015
    • Table Global smart oven market by product 2020
    • Table Global smart oven market by product 2015-2020 ($ billions)
    • Table Global smart oven market by product 2015-2020
    • Global smart oven market by smart microwave oven Market size and forecast
      • Table Global smart microwave oven market 2015-2020 ($ billions)
    • Global smart oven market by other Market size and forecast
      • Table Global smart oven market by other 2015-2020 ($ billions)
  • Geographical segmentation
    • Global smart oven market by geography 2015-2020
      • Table Global smart oven market by geography 2015-2020
      • Table Global smart microwave oven market by geography 2015
      • Table Global smart microwave oven market by geography 2020
    • Smart oven market in North America
      • Table Smart oven market in North America 2015-2020 ($ billions)
      • Table Smart home market in North America by application 2014
      • Table Distribution of expenditure on smart home appliances in US 2014
      • Table Smart home market in US 2014-2019 ($ billions)
    • Smart oven market in Europe
      • Table Smart oven market in Europe 2015-2020 ($ billions)
      • Table Distribution of smart home products by type of residence in Europe 2014
      • Table Country-wise smart homes installation in Europe 2014
      • Table Growth rate of online search for premium and standard quality ovens in Europe 2011-2015
    • Smart oven market in APAC
      • Table Smart oven market in APAC 2015-2020 ($ billions)
      • Table Distribution channels for home appliances in APAC 2014
      • Table Smart appliance market in China 2014-2019 ($ billions)
    • Smart oven market in ROW
      • Table Smart oven market in ROW 2015-2020 ($ millions)
  • Market drivers ers
    • Table Global smart home market 2015-2019 ($ billions)
    • Table Number of connected devices worldwide 2014-2019 (billion units)
    • Table Connected devices by type 2019 (million units)
    • Table Installed base of smart connections and devices by region 2015-2020
    • Table Drivers for use of sensors in smart appliances
    • Table Global semiconductor market revenue 2014-2019 ($ billions)
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Table Advantages of countertop microwave ovens
    • Table Global microwave oven market 2015-2020 ($ billions)
    • Table Expected reduction in the ASP of major smart appliances 2015-2019
    • Table Regulations for safety regarding smart appliances
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Table Percentage of omnichannel shoppers in US 2014
    • Table Success of MAID oven on crowdsourcing site Kickstarter
  • Vendor landscape
    • Competitive scenario
  • Key vendor analysis
    • Dacor
    • Electrolux
      • Table Electrolux: Business segmentation by revenue 2014
      • Table Electrolux: Business segmentation by revenue 2013 and 2014 ($ billions)
      • Table Electrolux: Geographical segmentation by revenue 2014
      • Table Strengths of Electrolux
    • GE
      • Table GE: Business segmentation by revenue 2014
      • Table GE: Business segmentation by revenue 2013 and 2014 ($ billions)
    • LG Electronics
      • Table LG Electronics: Business segmentation by revenue 2014
      • Table LG Electronics: Business segmentation by revenue 2013 and 2014 ($ billions)
      • Table LG Electronics: Geographical segmentation by revenue 2014
      • Table Increase in CSR investment 2011-2013 ($ billions)
    • Samsung
      • Table Samsung: Business segmentation by revenue 2014
  • Other prominent vendors
    • Table Smart appliance products by Haier
  • Appendix
    • List of abbreviations
  • Explore Technavio

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