Press release
Rising Growth Of Smart Homes: A Key Driver Powering Smart Microwave Ovens Market Growth In 2025
Smart Microwave Ovens
What Is the Expected Smart Microwave Ovens Market Size During the Forecast Period?
There's been a speedy expansion of the smart microwave ovens market recently. Its size will rise from $5.08 billion in 2024 to $5.99 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 17.8%. Factors such as the convenience they provide consumers, their energy efficiency, shifts in lifestyle, health awareness, and a surge in disposable income have contributed to the historical period's growth.
The market size of intelligent microwave ovens is anticipated to surge significantly in the upcoming years. The market is projected to reach $10.06 billion by 2029, with a compound annual growth rate (CAGR) of 13.9%. The escalation during the forecast period can be credited to the rising integration of internet of things (IoT), smart home ecosystems, tailored features, sustainable attributes, health technology integration, and market penetration in developing economies. Key trends within the forecast period encompass enhanced connectivity and IoT integration, the use of in-built cameras for surveillance, enlargement of pre-set cooking alternatives, amalgamation of recipe databases and cooking guidance, with an emphasis on energy efficiency and sustainability.
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What Are the High-Growth Segments in the Smart Microwave Ovens Market?
The smart microwave ovens market covered in this report is segmented -
1) By Product Type: Grill Microwave Oven, Convection Microwave Oven, Microwave/Light-wave Oven, Other Product Types
2) By Technology: Bluetooth, Wi-Fi, NFC
3) By Distribution Channel: Hyper market and Super market, Specialty Store, Online Store, Other Distribution Channels
4) By End User: Commercial, Personal
Subsegments:
1) By Grill Microwave Oven: Solo Grill Microwave Oven, Grill Combination Microwave Oven
2) By Convection Microwave Oven: Countertop Convection Microwave Oven, Built-In Convection Microwave Oven
3) By Microwave Or Light-Wave Oven: Microwave Or Light-Wave Oven With Grill, Microwave Or Light-Wave Oven Without Grill
4) By Other Product Types: Multi-Function Microwave Ovens, Smart Sensor Microwave Ovens
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What Key Drivers Are Expected to Influence Future Smart Microwave Ovens Market Growth?
The surge in the use of smart home devices is anticipated to spur the expansion of the smart microwave ovens market. A smart home is a household outfitted with a variety of internet-connected devices and systems, enabling homeowners to manage, supervise, and automate different elements of their living areas. Smart Microwaves serve to enhance automation in these smart homes and can be advantageous in automating several chores. For example, a survey of 1000 UK adults in the State of the Connected Home report from the non-profit trade association, techUK, in November 2022, revealed that 77% of UK adults own at least one smart home device. This is an increase from 67% in 2020 and 76% in 2021. Moreover, the count of advanced users of smart home gadgets rose to 26% in 2022, a jump from 24% in 2021 and 17% in 2020. Hence, the progressive development of smart homes fuels the demand for smart microwave ovens.
Which Companies Hold the Largest Share Across Different Smart Microwave Ovens Market Segments?
Major companies operating in the smart microwave ovens market include Samsung Electronics Co. Ltd., Robert Bosch GmbH, Siemens AG, General Electric Company, LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Midea Group Co. Ltd., Smeg S.p.A., Toshiba Corporation, Whirlpool Corporation, BSH Home Appliances Corporation, Miele & Cie. KG, SharkNinja Operating LLC, Sharp Corporation, Breville Group Limited, Kenmore Brands, Dacor Inc., June Life Inc., Candy Hoover S.p.A., Tovala Inc., Galanz Group, Gorenje Group d.o.o., Teka Industrial S.A.U., Hisense Group Co. Ltd.
What Trends Are Expected to Dominate the Smart Microwave Ovens Market in the Next 5 Years?
Prominent players in the smart microwave ovens market are concentrating on improving their product range by integrating innovative features such as smart all-in-one microwaves to cater to the changing requirements of customers. Smart all-in-one microwaves are sophisticated kitchen gadgets that merge conventional microwave capabilities with other cooking techniques like convection baking, air frying, grilling, and steaming, whilst incorporating smart technology for superior control and ease of use. For example, in July 2024, Samsung Electronics, a company based in South Korea, introduced a new range of smart all-in-one microwaves with an air fry feature. This inventive product is engineered to offer a versatile cooking experience, enabling users to prepare healthier meals using less oil but still retaining the taste and texture of fried food. The microwaves incorporate state-of-the-art smart technology, allowing users to manage settings via a mobile app and access a variety of cooking presets for their convenience.
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What Are the Emerging Geographies for The Smart Microwave Ovens Market Growth?
Asia-Pacific was the largest region in the smart microwave oven market in 2024. Western Europe was the second-largest region in the global smart microwave oven market analysis. The regions covered in the smart microwave ovens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Microwave Ovens Market?
2. What is the CAGR expected in the Smart Microwave Ovens Market?
3. What Are the Key Innovations Transforming the Smart Microwave Ovens Industry?
4. Which Region Is Leading the Smart Microwave Ovens Market?
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