Market outlook of the smart microwave oven
Following the growing trend towards smart homes and connected devices, the adoption of smart homes appliances has increased exponentially, which simultaneously fueled the growth of the global smart microwave oven market, posting a massive CAGR of nearly 28% during the forecast period. Development in network infrastructure has increased the use of broadband and internet and consumers are increasingly shifting to wireless and technologically advanced products to ensure more convenience while cooking for their families.
With advancement in technology and emergence of smart homes, there is an increase in smart appliances which can be connected to smart phones and enable the monitoring of cooking procedures from remote locations. One of the major drivers is the Internet of things (IoT), which is expected to drive any vendor associated with the field of technology during the forecast period.
Geographical segmentation of the smart microwave oven market
The smart microwave oven market is dominated by North America accounting for over 38% of the revenue generated in 2014, followed by APAC and Europe. The market is expected to grow at a consistent pace in North America as US and Canada will see a high penetration of smart appliances in the future as broadband and connected devices will be available in more houses.
Competitive landscape and key vendors
The smart microwave oven market includes well-diversified international and regional vendors. However, as international players are increasing their outline in the market, regional vendors are finding it increasingly difficult to compete with them in terms of quality, technology, and pricing.
Top vendors in this market are -
Other prominent vendors included in this report are Bosch, Electrolux, Haier, Panasonic, Sharp, and Whirlpool.
Growth drivers, challenges, and upcoming trends: Smart microwave oven
Technavios market research analysts highlight the introduction of many innovative applications and solutions such as advances in video asset management solutions. The changes in consumer preferences are forcing vendors to deliver innovative residential security solutions with high efficiency to survive the commoditization in the market.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global smart microwave oven market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the global smart microwave oven market?
What are the key market trends impacting the growth of the global smart microwave oven market?
What are the challenges to market growth?
Who are the key vendors in the global smart microwave oven market?
What are the market opportunities and threats faced by the vendors in the global smart microwave oven market?
What are the trending factors influencing the market shares of North America, Europe, APAC, and ROW?
What are the key outcomes of the five forces analysis of the global smart microwave oven market?
Technavio also offers customization on reports based on specific client requirement.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Global smart microwave oven market 2014-2019
Five forces analysis
PART 06: Geographical segmentation
Global smart microwave oven market by geographical segmentation 2014-2019
Smart microwave oven market in North America
Smart microwave oven market in Europe
Smart microwave oven market in APAC
Smart microwave oven market in ROW
PART 07: Market drivers
PART 08: Impact of drivers
PART 09: Market challenges
PART 10: Impact of drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
Market vendor analysis 2014
PART 13: Other prominent vendors
PART 14: Key vendor analysis
PART 15: Appendix
List of abbreviations
PART 16: Explore Technavio
Exhibit 01: Product offerings 7
Exhibit 02: Timeline of smart homes
Exhibit 03: Evolution in smart technologies
Exhibit 04: Global smart appliances market 2014-2019 ($ billions)
Exhibit 05: Global smart microwave oven market 2014-2019 ($ billions)
Exhibit 06: Five forces analysis
Exhibit 07: Global smart microwave oven market by geographical segmentation 2014-2019 ($ billions)
Exhibit 08: Global smart microwave oven market by geographical segmentation 2014
Exhibit 09: Global smart microwave oven market by geographical segmentation 2019
Exhibit 10: Global smart microwave oven market by geographical segmentation 2014-2019
Exhibit 11: Smart microwave oven market in North America 2014-2019 ($ billions)
Exhibit 12: Application-wise segmentation of smart home market in North America 2014
Exhibit 13: Distribution of expenditure on smart home appliances in US 2014
Exhibit 14: Smart home market in US 2014-2019 ($ billions)
Exhibit 15: Smart microwave oven market in Europe 2014-2019 ($ billions)
Exhibit 16: Distribution of smart home products per type of residence in Europe 2014
Exhibit 17: Country-wise smart home installation in Europe 2014
Exhibit 18: Smart microwave oven market in APAC 2014-2019 ($ billions)
Exhibit 19: Average per capita disposable income in India and China 2009-2013 ($)
Exhibit 20: Distribution channel of home appliances in APAC 2014
Exhibit 21: Smart appliance market in China 2014-2019 ($ billions)
Exhibit 22: Smart microwave oven market in ROW 2014-2019 ($ billions)
Exhibit 23: Global smart home market 2015-2019 ($ billions)
Exhibit 24: Factors enabling growth of Internet of Things
Exhibit 25: Features of IoT
Exhibit 26: Number of connected devices 2014-2019 (billion units)
Exhibit 27: Connected devices per person 2005-2019 (units)
Exhibit 28: Forecast number of connected devices by type 2019 (units)
Exhibit 29: Expenditure on household appliances in US, UK, and India 2013 and 2014 ($ billions)
Exhibit 30: Region-wise distribution of middle class population (billions)
Exhibit 31: Global semiconductor market 2014-2019 ($ billions)
Exhibit 32: Drivers for use of sensors in smart appliances
Exhibit 33: Smart grid investment by governments in major global economies 2011 ($ billions)
Exhibit 34: Impact of drivers
Exhibit 35: Expected reduction in ASP of major smart appliances 2014-2019
Exhibit 36: Product safety issues in smart appliances
Exhibit 37: Impact of drivers and challenges
Exhibit 38: Percentage of omnichannel shoppers in US 2014
Exhibit 39: Success of MAID microwave oven on crowdsourcing site Kickstarter
Exhibit 40: Percentage of single person households 2003 and 2013
Exhibit 41: Samsung: R&D investment 2010-2013 ($ billions)
Exhibit 42: Samsung: R&D personnel 2010-2013
Exhibit 43: Samsung: CSR investment 2011-2013 ($ millions)
Exhibit 44: Other prominent vendors in smart appliance market
Exhibit 45: Smart appliance products by Haier
Exhibit 46: Breville: Product segmentation
Exhibit 47: GE: Business segmentation by revenue 2014
Exhibit 48: GE: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 49: GE: Geographical segmentation of appliances and lighting segment by revenue 2014
Exhibit 50: LG: Business segmentation
Exhibit 51: LG: Geographical segmentation 2014
Exhibit 52: Samsung: Business segmentation by revenue 2014