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Smart Ovens Market size is set to grow by USD 519.8 million from 2024-2028, Changing lifestyles in developed and developing economies boost the market, Technavio

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NEW YORK, July 26, 2024 /PRNewswire/ — The global smart ovens market size is estimated to grow by USD 519.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 20.65% during the forecast period. Changing lifestyles in developed and developing economies is driving market growth, with a trend towards high demand for energy-efficient microwave ovens. However, safety issues in mobile applications poses a challenge. Key market players include Alto Shaam Inc., Brandt Group, Breville Group Ltd., Electrolux group, General Electric Co., GoWISE USA, Haier Smart Home Co. Ltd., Hitachi Ltd., JS Global Lifestyle Co. Ltd., LG Electronics Inc., Maestro Food Co., MIDEA Group Co. Ltd., Miele and Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Smeg S.p.a., Weber Stephen Products HK Ltd., and Whirlpool Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Smart Ovens Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 20.65%

Market growth 2024-2028

USD 519.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

15.57

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 40%

Key countries

US, China, Japan, Germany, and UK

Key companies profiled

Alto Shaam Inc., Brandt Group, Breville Group Ltd., Electrolux group, General Electric Co., GoWISE USA, Haier Smart Home Co. Ltd., Hitachi Ltd., JS Global Lifestyle Co. Ltd., LG Electronics Inc., Maestro Food Co., MIDEA Group Co. Ltd., Miele and Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Smeg S.p.a., Weber Stephen Products HK Ltd., and Whirlpool Corp.

Market Driver

The kitchen and home appliances sector accounts for one-quarter of a family’s energy consumption. Microwave ovens, as energy-efficient kitchen devices, have gained popularity due to their ability to cook food using less energy compared to traditional gas stoves or ovens. Vendors, such as LG Electronics Inc. And Samsung Electronics Co. Ltd., manufacture energy-efficient models like the NeoChef smart inverter microwave oven and the NV7B50TAK Series 5 Smart Oven with Cook Flex and Air Fry, which offer energy savings of up to 25%. With the increasing adoption of smart home systems, the demand for energy-efficient smart ovens is expected to rise, leading to market growth during the forecast period. 

Smart ovens are the latest trend in small kitchen appliances, offering convenience for busy lifestyles with advanced cooking processes. These ovens feature device connectivity, allowing hand-free control and distant cooking options. Their visually appealing designs make them a great addition to functional kitchen spaces. Other popular small appliances include juicers, coffee maker machines, electric kettles, microwaves, and more. Smart technology, such as Wi-Fi connectivity and smartphone apps, transforms these appliances into connected home devices. However, security concerns, data privacy, and hacking are important considerations. Manufacturers offer multiple function settings, temperature control, and additional cooking capabilities, ensuring energy efficiency and convenience. Tech-savvy consumers seek smart home devices that cater to health and wellness, including air fryers, blenders, and multi-function appliances. Online shopping, physical stores, and delivery options provide easy access to these smart appliances. Algorithms and personalized product recommendations offer nutritional information, calorie tracking, and recipes, enhancing the user experience. Innovations in single function and household/commercial manufacturing hubs continue to shape the smart oven market. Stay tuned for more updates on this exciting trend. 

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Market Challenges

Smart ovens, connected through mobile applications, offer convenience and flexibility for consumers. The use of SIM cards enables remote control, but network and battery issues on smartphones can disrupt communication, leading to suboptimal oven performance. Vendors must prioritize research and development to ensure the reliability and security of these applications. Mobile application failures pose a significant challenge to the global smart oven market, potentially hindering growth during the forecast period. Consumers require smartphones with robust battery life, high-speed processors, and reliable internet connectivity to effectively manage their smart ovens.The Smart Ovens market is experiencing significant growth due to the increasing demand for convenient and healthy cooking solutions. However, businesses face challenges in this sector. Online sales present opportunities but also require managing store hours and ensuring timely delivery. Product reviews and ratings are crucial for consumer trust, but manual supervision and safety features are essential for kitchen fires. Residential consumers seek energy-efficient, healthy cooking functions, and diet-specific options. Pre-programmed cooking modes and recipe libraries are key selling points, but remote monitoring and voice controls add value. Connected home appliances and digital platforms are the future, but offline channels and consumer electronics moguls remain important players. Counter top segment growth depends on Bluetooth, Wi-Fi, and companion apps. Safety features, nutrition, and energy efficiency are top priorities, with healthy cooking functions gaining popularity.

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Segment Overview 

This smart ovens market report extensively covers market segmentation by  

Distribution Channel1.1 Offline1.2 OnlineProduct 2.1 Smart microwave oven2.2 Small wall ovenGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Offline-  The offline distribution channel for smart ovens includes hypermarkets, convenience stores, clubhouse stores, specialty stores, and department stores. However, sales through these channels have decreased due to consumers’ shifting preference towards online shopping. To boost offline sales, vendors are partnering with local retailers and household appliance retail chains, such as Haier Group’s collaboration with GOME Retail and Suning in China. Vendors also establish clubs, like Haier Smart Home Co. Ltd.’s V58 and V140 clubs, to maintain relationships with regional distributors. Offline stores offer advantages, such as in-person technology demonstrations, which reduce confusion for customers. Elderly consumers, who value safety measures, also prefer purchasing from physical stores. Despite the decline in offline sales, extensive marketing efforts will sustain sales and contribute to the smart oven market’s growth during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global smart home appliances market is experiencing robust growth, driven by advancements in IoT technology and increasing consumer demand for convenience and energy efficiency. Concurrently, the global commercial combi ovens market is expanding as businesses seek versatile cooking solutions that offer efficiency and precision. In the residential sector, the microwave oven market is also on the rise, with innovations enhancing functionality and design. Together, these markets reflect a trend toward smart, efficient, and multifunctional kitchen appliances across both commercial and residential spaces.

Research Analysis

The Smart Ovens market is experiencing significant growth due to the increasing popularity of small kitchen appliances that offer convenience for busy lifestyles. These ovens incorporate advanced technologies such as device connectivity, hand-free control, and distant cooking options, making them a must-have for visually appealing and functional kitchen spaces. Smart Ovens are not just limited to cooking processes but also include juicers and other small appliances. Online shopping platforms and physical stores offer various options for purchasing these devices, with delivery being a convenient choice for customers. Digital platforms provide algorithms for personalized product recommendations, nutritional information, and calorie tracking, enhancing the user experience. Countertop segment smart ovens are equipped with Bluetooth, Wi-Fi, and companion apps for voice controls, cooking temperature settings, preheat functions, and safety features. These features make Smart Ovens an essential addition to modern kitchens, catering to the demands of tech-savvy consumers.

Market Research Overview

The Smart Ovens market is witnessing significant growth due to the increasing popularity of small kitchen appliances that cater to busy lifestyles. These ovens offer convenience through cooking processes made easier with smart technology, device connectivity, and hand-free control. With distant cooking options, users can monitor and adjust temperature settings from anywhere, making it a visually appealing and functional addition to modern kitchen spaces. Juicers, coffee maker machines, electric kettles, microwaves, and various other appliances are now being integrated with smart technology, allowing for Wi-Fi connectivity, smartphone apps, and connected homes. However, concerns regarding security, data privacy, and hacking continue to surface as more appliances become part of the smart home ecosystem. Tech-savvy consumers are drawn to the multiple function settings, energy efficiency, and sensor technology of these smart appliances, which also cater to health and wellness trends with air fryers, blenders, and other multi-function devices. Affordability, traditional ovens, and counter-top vs built-in options continue to be key considerations for both residential and commercial markets. Online shopping, physical stores, and delivery options offer flexibility for consumers, while algorithms, personalized product recommendations, nutritional information, calorie tracking, and recipes help make meal decisions based on dietary preferences and restrictions. Smart home technology integration and kitchen design trends further enhance the appeal of these high-quality, premium home appliances.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineProductSmart Microwave OvenSmall Wall OvenGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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NASA Johnson Invites Proposals to Lease Vibration Test Facility

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HOUSTON, Nov. 14, 2024 /PRNewswire/ — NASA’s Johnson Space Center is seeking proposals for the use of its historic, but underused, Vibration and Acoustic Test Facility. Prospective tenants must submit facility walk-through requests by Monday, Nov. 18.

Final proposals are due by 12 p.m. EST Monday, Dec. 16, and must promote activities that will build, expand, modernize, or operate aerospace-related capabilities at NASA Johnson and help preserve the historic and iconic building through preservation and adaptive reuse.

NASA plans to sign a National Historic Preservation Act (NHPA) lease agreement for the facility, also known as Building 49, for a five-year base period and one five-year extension to be negotiated between NASA and the tenant. To request a walk-through, send an email to hq-realestate@mail.nasa.gov

“This historic facility has been used for decades to ensure the success and safety of all human spaceflight missions by putting engineering designs and hardware to the ultimate stress tests,” said NASA Johnson Director Vanessa Wyche. “For more than 60 years, NASA Johnson has been the hub of human space exploration and this agreement will be a vital part of the center’s efforts to develop a robust and durable space economy that refines our understanding of the solar system and space exploration.”

All proposals must adhere to the guidelines detailed in the Agency Announcement for Proposals describing concept plans for development of the property, including any modifications proposed to the building; a statement of financial capability to successfully achieve and sustain operations, demonstrated experience with aerospace-related services or other space-related activities, and a detailed approach to propelling the space economy.

The nine-story building complex has a gross square footage of 62,737 square feet and consists of a north wing measuring 62 feet long, 268 feet wide and 106 feet tall, and a central wing about 64 feet long and 115 feet wide. Building 49 currently houses five laboratories, including the General Vibration Laboratory, Modal Operations Laboratory, Sonic Fatigue Laboratory, Spacecraft Acoustic Laboratory, and Spacecraft Vibration Laboratory. The south administrative portion of the building is not included in the property offered for lease. 

As the home of Mission Control Center for the agency’s human space missions, astronaut training, robotics, human health and space medicine, NASA Johnson leads the way for the human exploration. Leveraging its unique role and location, the center is developing multiple lease agreements, including the recently announced Exploration Park, to sustain its key role in helping the human spaceflight community foster a robust space.

In the coming years, NASA and its academic, commercial, and international partners will see the completion of the International Space Station Program, the commercial development of low Earth orbit, and the first human Artemis campaign missions establishing sustainable human presence on the Moon in preparation for human missions to Mars.

Johnson already is leading the commercialization of space with the commercial cargo and crew programs and private astronaut missions to the space station. The center also is supporting the development of commercial space stations in low Earth orbit, and lunar-capable commercial spacesuits and lunar landers that will be provided as services to both NASA and the private sector to accelerate human access to space. Through the development of Exploration Park, the center will broaden the scope of the human spaceflight community that is tackling the many difficult challenges ahead.

Learn more about NASA Johnson’s efforts to collaborate with industry partners:

https://www.nasa.gov/johnson/frontdoor/ 

NASA Johnson Space Center news releases and other information are available automatically by sending an Internet electronic mail message to listserv@listserver.jsc.nasa.gov.  In the body of the message (not the subject line) users should type “subscribe hsfnews” (no quotes). This will add the email address that sent the subscribe message to the news release distribution list. The system will reply with a confirmation via E-mail of each subscription.  Once you have subscribed you will receive future news releases via e-mail.

 

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SOURCE NASA

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Cabana Partners with Virginia Department of Veterans Services to Provide Comprehensive, Free Mental Health Support for Veterans, Guard/Reserve Members, and Their Families

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RICHMOND, Va., Nov. 14, 2024 /PRNewswire/ — Cabana, a modern mental health provider offering confidential, tech-enabled support, has partnered with the Virginia Department of Veterans Services (DVS) to provide free, comprehensive mental health resources to Virginia’s veterans, Guard and Reserve members, as well as their spouses and caregivers. This collaboration expands access to Cabana’s digital mental health services, including live peer support groups moderated by Virginia-certified Veteran Peer Specialists.

Originally developed through research and development initiatives with the U.S. Air Force, Cabana’s services are designed to meet the unique needs of military and veteran communities. With this partnership, eligible Virginia users gain full access to Cabana’s digital suite, which includes the full range of virtual, professionally facilitated groups offered by Cabana, as well as dedicated Virginia Veteran peer-led support groups. Participants can connect discreetly on topics such as transitioning to civilian life, managing family relationships, and coping with stress, all within a secure and confidential environment accessible from any device.

David Black, Founder and CEO of Cabana, underscored the mission behind the partnership: “We’re honored to work with the Virginia Department of Veterans Services to offer a holistic mental health solution for Virginia’s military-connected community. With Virginia-certified Veteran Peer Specialists and our full array of live support groups, we’re providing a powerful, confidential resource that veterans and military families can rely on, whenever and wherever they need it.”

Key Features of the Partnership:

Comprehensive Access to Support: Virginia veterans, Guard/Reserve members, and their families will have unrestricted access to all live virtual groups available through Cabana, in addition to specialized peer-led groups run by Virginia-certified Veteran Peer Specialists.Support for Families and Caregivers: The initiative includes spouses and caregivers, addressing the unique mental health needs of military-connected families through sessions tailored to issues like family dynamics, stress management, and the transition to civilian life.Confidential and Flexible Access: Cabana’s services are available on mobile and desktop devices, providing Virginia’s veterans and their families with an easily accessible, cost-free solution for mental health support.

This collaboration highlights Cabana’s commitment to supporting the mental well-being of those who serve and their families. By joining forces with the Virginia Department of Veterans Services, Cabana seeks to strengthen the resilience and wellness of Virginia’s military community.

For more information on the partnership between Cabana and the Virginia Department of Veterans Services, please contact:

Nick Armstrong, Ph.D.
Head of Public Sector, Cabana
nick@cabanahealth.org

About Cabana™
Cabana is a leading, modern mental health provider offering confidential, tech-enabled support solutions tailored to the needs of diverse communities. Through live, professionally moderated group sessions, evidence-based content, and adaptable wellness tools, Cabana helps individuals proactively manage their mental health. Our mission is clear: to make mental health care more accessible through technology and human connection.

About the Virginia Department of Veterans Services (DVS)

The Virginia Department of Veterans Services (DVS) is a state government agency with more than 50 locations across the Commonwealth of Virginia. DVS traces its history to 1928 and the establishment of the Virginia War Service Bureau to assist Virginia’s World War I veterans. Today, DVS assists veterans and their families in filing claims for federal veterans benefits; provides veterans and family members with linkages to services including behavioral health, housing, employment, education, and other programs. The agency operates long-term care facilities offering in-patient skilled nursing care, dementia/memory care, and short-term rehabilitation for veterans; and provides an honored final resting place for veterans and their families at three state veterans cemeteries. It operates the Virginia War Memorial, the Commonwealth’s tribute to Virginia’s men and women who gave the ultimate sacrifice from World War II to the present. For more information, please visit www.dvs.virginia.gov.

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SOURCE Cabana

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East Side Games Group Reports Third Quarter 2024 Financial Results

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Revenue of $21.4M in Q3 2024 and $62.8M Year to DateA-EBITDA of $2.56M in Q3 2024 and $9.2M Year to DatePOWER RANGERS: MIGHTY FORCE launched globally

VANCOUVER, BC, Nov. 14, 2024 /CNW/ – East Side Games Group (TSX: EAGR) (OTC: EAGRF) (“ESGG” or the “Company”), is pleased to announce its financial results for the third quarter ended September 30, 2024. All amounts are stated in Canadian dollars on an IFRS basis unless otherwise indicated. Building on the momentum from Q2, the company achieved its first growth quarter of the year, reporting a top-line revenue of $21.4 million, a 4% increase quarter-over-quarter and a 3% increase year-over-year.

The company’s adjusted EBITDA for the quarter was $2.56 million, representing a 12% margin and marking the eighth consecutive profitable quarter above $2.5 million. East Side Games Group continues to demonstrate strong performance metrics across its core portfolio, with an average daily user count (DAU) of 236,000, a stickiness rate of 24%, and an average revenue per daily active user (ARPDAU) of $0.99.

“Our focus on profitability within our existing portfolio has paid off, and we are excited to further enhance our user acquisition strategies,” said Jason Bailey, CEO of East Side Games Group. “With $8.3 million in cash—our highest balance since Q2 2022—we are well-positioned to invest in our future game launches and bolster our share buyback program.”

One of the key drivers of growth this quarter was the launch of POWER RANGERS: MIGHTY FORCE in August, which quickly garnered nearly 30,000 daily active users and demonstrated impressive return on advertising spend (ROAS) figures.

In Q3, the company also enhanced its revenue generation through innovative strategies. The introduction of bi-monthly season passes for popular titles like Trailer Park Boys: Greasy Money and Cheech and Chong: Bud Farm resulted in a remarkable 40% increase in season pass revenue.

In a major collaboration, East Side Games Group partnered with BBC and Paramount to create the Intergalactic Friendship Day crossover event between Star Trek Lower Decks: The Badgey Directive and Doctor Who: Lost in Time, generating substantial organic traffic and setting new ARPDAU records.

Looking forward to Q4, East Side Games Group is excited to introduce team-based cooperative and competitive play features into titles such as Trailer Park Boys: Greasy Money and RuPaul’s Drag Race Superstar, anticipating a significant boost in player engagement and monetization.

Moreover, the company is preparing to launch Trailer Park Boys: Greasy Money on the Epic Games Store, expanding its reach in a new mobile marketplace with favorable revenue-sharing terms. This is a very exciting opportunity, only being afforded to a few game studios.

Finally, East Side Games Group is thrilled to announce our upcoming title, RuPaul’s Drag Race Match Queen, developed in partnership with Funkitron and World of Wonder. Slated for a 2025 release, this hybrid match-3 game combines beloved gameplay elements with captivating fashion and character features, catering to the passionate fanbase of RuPaul’s Drag Race.

Mike Edwards will be stepping down from the ESGG Board of Directors to focus on other pursuits, effective immediately. ESGG thanks him for his invaluable guidance over the past 12 years and is currently in discussions with several highly qualified candidates for his replacement.

Three Months Ended Sep 30, 2024 Financial highlights

For the quarter ended September 30th, 2024, revenue was $21.4M.Q3 2024 a-EBITDA of $2.56M and 12% a-EBITDA margin.Cashflow for the Company for the quarter ended September 30, 2024 increased by $700k, ending at $8.3M.Daily Active Users in Q3 were 236k, with an ARPDAU of $0.99On November 14, 2023, the Company announced a renewal of its Normal Course Issuer Bid (“NCIB”) authorizing the Company to purchase 4,076,819 of its shares. Through September 30, 2024, the Company purchased 1,540,719 shares at an average price of $0.76. The company continues to buy back stock as restrictions allow.

Certain information provided in this news release is extracted from the consolidated financial statements (the “Financial Statements”) and Management’s Discussion & Analysis (“MD&A”) of the Company for the quarter ended September 30, 2024, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information. The Financial Statements and MD&A can be found under the Company’s profile on SEDAR and EDGAR.

Earnings Call Video

ESGG will release its third-quarter 2024 financial results and business outlook on its investor relations website https://eastsidegamesgroup.com/investors/financial-information on Thursday, November 14th, 2024, at approximately 2:00 p.m. Pacific Time.

ABOUT EAST SIDE GAMES GROUP

East Side Games Group is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: The Office: Somehow We Manage, Star Trek: Lower Decks – The Badgey Directive, Bud Farm Idle Tycoon, Doctor Who: Lost in Time, RuPaul’s Drag Race Superstar, AEW: Rise to The Top, Cheech and Chong Bud Farm, and Trailer Park Boys: Grea$y Money.

We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.

Forward-looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

SOURCE East Side Games Group Inc.

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