The time it will take to warm your baby's bottle depends on a number of factors including the type of milk (formula or breastmilk), the amount of milk in the bottle, the bottle material, and the starting temperature of the milk. Each of these will mean that the bottle can take between 2 and 7 minutes to warm.
The "Steady Warm" setting is a slower than steam because the temperature isn’t as high. This is because this setting is designed to protect the nutrients in the breastmilk, which can be destroyed if heating at too high temperatures.
It’s also worth noting that other bottle warmer brands say they warm fast (i.e. in just 3 minutes) but if you read the fine print, this is warming a room temperature bottle weighing 60-90 ml – so a very small bottle starting at room temperature.
Always make sure you test the temperature of the milk before feeding your baby!