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Analysts say the global smart oven market to reach almost $13 billion by 2020. Strong distribution channels will be a key trend for smart oven market growth. With the increasing penetration of the Internet and e-commerce, leading brands are focusing on delivering improved sales experience. Vendors in the market are focusing on improving the distribution channels. They are investing more in devising account management and supply chain management strategies along with enhancing product offerings.Complete report on smart oven market spread across 69 pages, analyzing 5 major companies and providing 54 data exhibits are now available at http://www.rnrmarketresearch.com/global-smart-oven-market-2016-2020-market-report.html
The growth of smart oven market can be accredited to the increasing adoption of home broadband and home network. The expansion of network infrastructure to homes is fueled by the increase in the number of smartphones and the ubiquity of the Internet across the globe. Increased Internet penetration has increased its use for home automation as well. Extensive use of wireless technologies like Zigbee and WiFi is also making interoperability between devices possible. During 2015, the global smart oven market was dominated by North America with a market share of around 38%, with the US and Canada being key contributors. Increasing investments in R&D and product innovation will drive the growth of the smart oven market in North America during the forecast period.
According to the 2016 smart oven market report, one of the key drivers will be investing on new kitchen designs. With the increase in disposable income and improvement in the standards of living, consumers are investing more in renovating their kitchens. Consumers prefer minimal and sophisticated designs that are easy to maintain and include optimum and compact storage. The changes in trends and consumer preferences have caused vendors to add new streamlined appliances to their portfolio. The demand for built-in appliances market is also growing. This has prompted appliance vendors to introduce smart wall ovens in their product offerings. Order a copy of Global Smart Oven Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=657723
By 2020, the smart microwave oven segment will account for more than 86% of the overall market revenue to continue dominance over the global smart oven market. Improvements in living standards and interest in connectivity-enabled smart appliances will drive the growth of this segment over the next four years. Vendors in the market are providing funds to app developers and start-ups to improve the technological ecosystem and leverage on the trend of IoT.
The following companies are the key players in the global smart oven market: Dacor, Electrolux, GE, LG Electronics, and Samsung. Other prominent vendors in the market are: Bosch, Haier, June, Panasonic, Sharp, and Whirlpool.
Global Smart Oven Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global smart oven market for 2016-2020. To calculate the market size, the report considers revenue generated from the sale of smart ovens to the residential segment.
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