Smart Oven Market Size - By Product Type (Multi Function, Single Function), Structure Type (Built-in, Countertop), Connectivity (Bluetooth, Wi-Fi, Near-Field Communication), Application (Household, Commercial), Distribution Channel & Forecast, 2024 – 2032

Smart Oven Market Size

Smart Oven Market size was valued at USD 288 million in 2023 and it is anticipated to register a CAGR of 11% between 2024 and 2032. Increasing preference for convenience and busy lifestyles drives the demand for small kitchen appliances that simplify the cooking processes and save time. Smart ovens, is one of the most used appliances for cooking, are often indicative of this trend.
 

Modern smart ovens come in with various features including device connectivity, hand free control & distant cooking options. Consumers invest in other small kitchen appliances that complement the style of their smart oven. This trend contributes to the overall growth of the small kitchen appliances market as consumers seek to create visually appealing and functional kitchen spaces.
 

Moreover, consumers may also invest in other kitchen appliances products like juicers, coffee maker machine, electric kettles, and microwaves to complement their smart oven in their kitchen which boosts the overall market. Smart ovens offer a convenient way to prepare food quickly and easily, which aligns with the busy lifestyles of consumers. This convenience factor drives the demand for small kitchen appliances, including the smart ovens market.
 

Smart ovens with integration of smart technology such as Wi-Fi connectivity and smartphone apps, enhances convenience and control for users. This trend reflects broader consumer preferences for connected homes and smart appliances. Consumers who appreciate the convenience and efficiency offered by smart ovens may be more inclined to explore other smart small kitchen appliances, leading to market expansion.
 

The smart oven market is highly competitive with numerous players offering similar products, leading to price wars and margin pressures for manufacturers. There have been security concerns regarding data privacy and hacking. Smart ovens come with several features which can be complex to understand and require a learning curve to operate. Additionally, smart ovens come with higher price tag compared to conventional ovens which can be major restraints for mass users to invest in such pricy products.
 

Smart oven heavily relies on technology which can be prone to malfunctions or glitches and requires time to time service and maintenance which act as restraints to the market. Thus, growing popularity in smart home devices, there is limited awareness about smart kitchen appliances among certain consumers.
 

Smart Oven Market Trends

Manufacturers continuously innovate and spend time into research and development to introduce new features such as multiple function settings, temperature control, remote or device control and smart ovens with additional cooking capabilities. Smart oven offers diversification in product offerings caters to a wide range of consumer preferences and needs, thereby expanding the small kitchen appliances market.
 

Continuous technological advancements in smart ovens, including temperature control, energy efficiency, distant operation, hand free control, and smart features like Wi-Fi, Bluetooth, NFC connectivity and mobile app control, sensor technology attract tech-savvy consumers. These technological advancements drive the demand for smart ovens as well as contribute to the overall growth of the small kitchen appliances market. Consumers are increasingly seeking customizable options in kitchen appliances to make their cooking experience better and quicker.
 

Furthermore, there's a growing trend of health and wellness that has increased the demand for appliances that support healthier cooking methods. As consumers prioritize healthier eating habits, they may also invest in other small kitchen appliances like air fryers, juicers, and blenders to support their dietary goals, thereby driving overall market growth.
 

Smart Oven Market Analysis

Based on product type, the market is divided into multi-function, single function. Multi-function dominated the market, with revenue of USD 226 million in 2023 which is expected to exceed USD 656 million by 2032. Multi-function smart ovens are incredibly convenient to use and offer a wide range of cooking options in just one appliance. Multi-function smart ovens come up with multi feature which can also reduce the need for extra kitchen appliances which can also space saving in the kitchen. This simplicity makes them popular for everyday use in households and even in commercial settings like hotels and restaurants.
 

Additionally, multi-function smart ovens are so quick that they cook food in a matter of minutes only, which is ideal for busy mornings or when a person is in a hurry. Many multi-function smart ovens come with adjustable settings, including technology like precise temperature control, programmable settings allowing users to choose their preferred level of cooking and cooks food faster and save time and energy.
 

Based on application, the smart oven market is segmented into household and commercial. In 2023, the household segment accounted for a market share of about 62% and is expected to reach market share of 65% by 2032. Household smart ovens are generally compact, easy to operate, and more affordable compared to commercial or industrial-grade smart ovens. This affordability makes them accessible to a larger portion of the population, driving higher sales volume.
 

Moreover, household smart ovens are designed with convenience in mind that caters to the needs of everyday consumers. Household smart ovens typically require minimal maintenance which makes them an attractive option for households where space is limited. Despite being designed for household use, modern household smart ovens come with a variety of features like convection cooking, precise temperature control, and programmable settings, catering to different consumer preferences.
 

North America dominated the global smart oven market, generating about USD 96 million in 2023. Smart ovens are a staple kitchen appliance in North American households, where breakfast is often a quick and convenient meal. The smart oven's convenience aligns well with the fast-paced lifestyle common in the region, driving demand. North American companies often lead in innovation and technology advancements in household appliances.
 

North American manufacturers continuously introduce new technology and features to attract larger consumer population, such as digital displays, multiple function settings, and even smart connectivity features like temperature probe, sensor control, hand free operation, voice control mode, integrated Alexa and much more. Furthermore, North America has a large population with a high standard of living that leads to a significant demand for household appliances products including smart ovens. The region's large market size creates opportunities for manufacturers to produce and sell their products at scale.
 

U.S. is likely to dominate in North America smart oven market. The U.S. consumer has a strong culture where convenience and efficiency are highly valued. Smart ovens are foremost in American kitchens due to their convenience in cooking quickly and easily. Additionally, there's a growing market for high-end smart ovens that offer premium features and aesthetics. These smart ovens often come with higher price tags but offer superior performance, durability, and design elements that appeal to discerning consumers.
 

Germany is likely to dominate in Europe smart oven industry. German consumers often value sleek and modern designs in household appliances. Smart ovens which come with stylish designs, premium finishes, multiple function mode, and compact footprints that complement contemporary kitchen aesthetics might be popular in the market. In addition, German consumers are willing to pay for premium smart oven, ensuring the product meets the needs and expectations of consumers.
 

China is likely to dominate in Asia pacific smart oven market. Moreover, India is about to witness fastest CAGR growth in the region market due to rapid urbanization and population growth.  As India is known as the world's manufacturing hub after China due to its vast industrial infrastructure and low labor costs.
 

Many kitchen appliances manufacturers including, smart oven manufacturers, both domestic and international, choose to produce their products in India to take advantage of its efficient production capabilities and cost-effectiveness. In addition, India has seen a rapid increase in its household appliance market, driven by urbanization, rising incomes, and lifestyle changes. Smart ovens are becoming increasingly popular among Indian consumers as they embrace more Western-style breakfast options.
 

Smart Oven Market Share

These major key players are proactively involved in strategic endeavors such as new product line, business facility expansion, mergers & acquisitions, and partnerships to diversify their product offerings to expand their customer reach across the globe and solidify company market position. Collectively, the top five mentioned companies occupy share around 5% to 10% of the global market in 2023. They consistently allocate resources to research & development to enhance their products and integrate innovative technologies to maintain a competitive edge in the market.
 

Smart Oven Market Companies

Major companies operating in the smart oven industry include:

• BELLA
• Black & Decker
• Breville
• Cuisinart
• De’Longhi S.p.A.
• Dualit
• Hamilton Beach
• Kenmore
• KitchenAid
• Krups
• Panasonic Corporation
• Sunbeam
• Toastmaster
• Waring
• West Bend
   

Smart Oven Industry News

• In February 2023, Tovala announced to expand its product line by introducing the new Tovala smart oven air fryer. This product is available in sleek stone-gray color and automated with multi-function mode to cook perfectly.
   
• In January 2022, Panasonic Corporation launched its new range of small kitchen appliances, a smart microwave oven which can be operated through Alexa for hand free & distant operative cooking mode.
   
• In May 2022, Haier’s is one of the leaders in small kitchen appliances products. They introduce new AI power ovens which have sensors for automatic startup and PreciTaste technology.
   
• In January 2021, Weber-Stephem Products, LLC acquire June which develops smart appliances. This acquisition included technology, intellectual property and the June oven product and accessories.
   
• In December 2020, Sharp Home Electronics Company of America (SGCA) introduced the first smart countertop microwave oven which has Wi-Fi connectivity and compatible with Alexa which allows consumers for hand free voice instruction.
   

The smart oven market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Million Units) from 2021 to 2032, for the following segments:

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Market, By Product Type 

• Multi Function
• Single Function

Market, By Structure Type 

• Built-in
• Countertop

Market, By Connectivity

• Bluetooth
• Wi-Fi
• Near-Field Communication (NFC)

Market, By Application

• Household
• Commercial

Market, By Distribution Channel

• Online
• Offline
  • Supermarkets/hypermarkets
  • Convenience stores
  • Specialty Stores/Brand Stores

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia     
  • Indonesia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA