Smart Oven Market Growing Trends by 2028 - Global Increase in Penetration of Internet Technology in Urban

Smart Oven Market Growth Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Single Function, Multi-Function); Structure Type (Built-in, Counter Top); Connectivity (Bluetooth, Wi-Fi, NFC, Others); Application (Residential, Commercial); Distribution channel (Electronic Stores, Online) and Geography

Smart Oven Market Growth Drivers:

- The increasing number of women joining the workforce has left them with little time to do household chores such as cooking and baking. A number of women are seeking the use of smart ovens for hassle-free cooking carried out with minimum efforts. With the increased participation of women in the workforce and the rising household income has led to significant sales of smart ovens. Developments in the Internet of Things (IoT) technology, rising ownership of smartphones, and advancements in the field of artificial technology have fostered a conducive environment for the growth of the smart ovens market.
- The penetration of internet technology in urban as well as rural areas and digitization initiatives undertaken by governments across the world are likely to augment the sales of smart ovens in the forecast period.

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Smart Oven Market Growth Restraints:

- High cost may hinder the growth of the smart oven market.

A smart oven is an electronic appliance which includes a Bluetooth or Wi-Fi to connect the smart oven to a companion app. The app lets the user set automatic functions or control the appliance remotely. Most smart ovens are equipped with smart home features that allow the user to control cooking from a smartphone or a smart assistant. Smart ovens provide quicker, smarter, and efficient cooking as they have pre-set for different food, which ensures the best results.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart oven market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart oven market in these regions.

IMPACT OF COVID-19 ON SMART OVEN MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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