According to the report, the Smart Microwave Oven market is predicted to achieve USD 4,920 million by 2026. This report examines the status quo and projections of the global Smart Microwave Oven market and analyzes the Smart Microwave Oven market by manufacturer, type, application, and region. This report focuses on top manufacturers in North America, Europe, Japan, China, India, Southeast Asia, and other regions (Central and South America, Middle East and Africa).
Market Summary
Overview:
A smart microwave is a microwave oven that connects to a smart home network, usually via Wi-Fi and includes expanded features and capabilities usually associated with smart devices. Smart microwaves have barcode scanning capabilities which are used to download cooking instructions. They also use moisture sensors to avoid drying out food and can communicate with a smartphone.
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The Smart Microwave Oven market report covers the leading players in the market and analyzes their key strategies. Leading players in this market include:
Whirlpool Corporation
SMEG
Sharp Corporation
Robert Bosch GmbH
Panasonic Corporation
LG Electronics
Haier Group Corporation
Dongbu Daewoo Electronics
Alto-Shaam
AB Electrolux
The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio.
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Value:
It is estimated that the total market value of the Smart Microwave Oven global market is poised to reach USD 4,920 million in 2026 from USD 1,172 million in 2019, with a CAGR of 22.75%.
Facilitating and Limiting Factors:
The Smart Microwave Oven market is expected to register substantial growth in the coming years, owing to rising demand for frozen and precooked ready to eat food and changing eating preferences and lifestyles. With the development trend of smart homes and connected devices, the adoption of smart home devices has grown exponentially, driving the growth of the global smart microwave oven market. In addition, an increase in per capita income and disposable income of consumers and growing working class segment in emerging markets are also positively influencing the market growth. The high tendency of consumers to spend more on smart appliances is anticipated to fuel market growth in the coming years. Yet, a higher cost than traditional microwaves is expected to impede the growth of the market.
The global Smart Microwave Oven market is broadly divided based on type, application, and region:
By type - Convection, Grill, Solo
The Convection segment is projected to hold the largest market share during the forecast period, owing to its high functionality aspect.
By application - Commercial, Household
The household segment accounted for the largest market share in 2018, owing to the spiraling demand for energy efficient and compact cooking appliances. The commercial segment is expected to show high growth in the forecast years. The growth can be attributed to its wide application in rapidly growing quick service restaurants and fast food centers.
By region - North America, Asia-Pacific, Europe, Latin America, Middle East, and Africa, Others
Asia-Pacific dominated the Smart Microwave Oven market in 2018 with a share of 32.96% and is anticipated to witness significant growth over the forecast timeline. Increase in disposable income and living standard of consumers in emerging countries are boosting the growth of the market in the region.
North America is the second largest market at a share of 30.83%, followed by Europe, accounting for 26.54%. North America accounted for the largest proportion of 34.28% in 2018. Increased demand for latest technology-enabled products is anticipated to accelerate the growth of the market in the United States and Canada. However, existing high product penetration in this region will restrain the growth of the market.
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Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Smart Microwave Oven Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Smart Microwave Oven Market by Types
4 Segmentation of Smart Microwave Oven Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Smart Microwave Oven Market in Major Countries
7 North America Smart Microwave Oven Landscape Analysis
8 Europe Smart Microwave Oven Landscape Analysis
9 Asia Pacific Smart Microwave Oven Landscape Analysis
10 Latin America, Middle East & Africa Smart Microwave Oven Landscape Analysis
11 Major Players Profile
11.1 Whirlpool Corporation
11.1.1 Whirlpool Corporation Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 SMEG
11.3 Sharp Corporation
11.4 Robert Bosch GmbH
11.5 Panasonic Corporation
11.6 LG Electronics
11.7 Haier Group Corporation
11.8 Dongbu Daewoo Electronics
11.9 Alto-Shaam
11.10 AB Electrolux
…
Audience:
l Smart Microwave Oven manufacturers
l Smart Microwave Oven importers and exporters
l Smart Microwave Oven traders, distributors, and suppliers
l Raw material suppliers of Smart Microwave Oven
l Smart Microwave Oven industry associations
l Product managers, Smart Microwave Oven industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
What Information does this report contain?
l The report covers the prediction and analysis of the global Smart Microwave Oven market at the global and regional levels.
l The report includes drivers and constraints that affect market growth.
l Discussed details about market opportunities
l The assessments for the regional market layout characteristics in the world.
l The report includes detailed company profiles for prominent market participants.
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