Home AI Oven Market Trends and Forecast
The future of the global home AI oven market looks promising with opportunities in the online sale and offline sale markets. The global home AI oven market is expected to grow with a CAGR of 11.3% from 2024 to 2030. The major drivers for this market are rising consumer interest in smart home technologies, growing demand for energy-efficient & sustainable appliances, and incresaing demand for time-saving features of AI ovens.
• Lucintel forecasts that countertop oven is expected to witness higher growth over the forecast period.
• Within this market, online sale is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Home AI Oven Market
• United States: Whirlpool launched a new line of AI-enabled ovens, focusing on energy efficiency and personalized cooking experiences, in line with government initiatives promoting sustainable appliances.
• China: Xiaomi announced partnerships with local AI tech firms to integrate advanced cooking algorithms into smart ovens, aligning with government goals for AI innovation in household appliances.
• Germany: Bosch unveiled AI-powered ovens with voice control capabilities, targeting higher market penetration in smart home solutions and supporting government targets for energy-efficient appliances.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Home AI Oven Market by Segment
The study includes a forecast for the global home AI oven market by type, application, and region.
Home AI Oven Market by Type [Value from 2018 to 2030]:
• Countertop Oven
• Built-In Oven
Home AI Oven Market by Application [Value from 2018 to 2030]:
• Online Sales
• Offline Sales
Home AI Oven Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Home AI Oven Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies home AI oven companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the home AI oven companies profiled in this report include-
• Bosch
• Welbilt
• Midea
• Haier
• VIOMI
• June Oven
• Markov Corp
• Unox Casa
• LG
• Siemens
Recent Development in the Home AI Oven Market
• Samsung: Introduced the SmartThings Cooking platform, integrating AI technology into ovens for recipe suggestions, cooking tips, and remote control via smartphone apps, enhancing user experience and convenience in the kitchen.
• LG Electronics: Launched ThinQ AI-enabled ovens with voice recognition capabilities, allowing users to control cooking settings and access recipe databases using voice commands, catering to the trend of hands-free operation in smart appliances.
• Miele: Introduced the Miele@home platform, integrating AI algorithms into ovens for personalized cooking recommendations based on user preferences and dietary restrictions, enhancing culinary outcomes and user satisfaction.
• Electrolux: Collaborated with Google Nest to develop AI-driven ovens that integrate with smart home ecosystems, enabling seamless connectivity and automation for cooking tasks, providing users with a holistic and connected kitchen experience.
• Haier Group: Unveiled AI-enabled ovens with IoT connectivity, allowing users to monitor and control cooking processes remotely, contributing to energy savings and convenience while aligning with global trends in smart home technology adoption.
Features of the Global Home AI Oven Market
Market Size Estimates: Home AI oven market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Home AI oven market size by type, application, and region in terms of value ($B).
Regional Analysis: Home AI oven market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the home AI oven market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the home AI oven market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for home AI oven market?
Answer: The global home AI oven market is expected to grow with a CAGR of 11.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the home AI oven market?
Answer: The major drivers for this market are rising consumer interest in smart home technologies, growing demand for energy-efficient & sustainable appliances, and incresaing demand for time-saving features of AI ovens.
Q3. What are the major segments for home AI oven market?
Answer: The future of the home AI oven market looks promising with opportunities in the online sale and offline sale markets.
Q4. Who are the key home AI oven market companies?
Answer: Some of the key home AI oven companies are as follows:
• Bosch
• Welbilt
• Midea
• Haier
• VIOMI
• June Oven
• Markov Corp
• Unox Casa
• LG
• Siemens
Q5. Which home AI oven market segment will be the largest in future?
Answer: Lucintel forecasts that countertop oven is expected to witness higher growth over the forecast period.
Q6. In home AI oven market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the home AI oven market by type (countertop oven and built-in oven), application (online sales and offline sales), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Home AI Oven Market, Home AI Oven Market Size, Home AI Oven Market Growth, Home AI Oven Market Analysis, Home AI Oven Market Report, Home AI Oven Market Share, Home AI Oven Market Trends, Home AI Oven Market Forecast, Home AI Oven Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.