Smart Refrigerator Market Size, Share, Growth, Companies | Industry Report, 2020-2025
Smart Refrigerator Market is valued at USD 322.41 Million in 2018 and expected to reach USD 1008.91 Million by 2025 with CAGR of 17.70% over the forecast period.
Increasing urbanization, disposable income and rising adoption of smart devices is driving the Smart Refrigerator Market
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Market Analysis of Smart Refrigerator–
Smart refrigerator detects the type of items stored in refrigerator. It is high-tech programmed refrigerator that work on a barcode or RFID system keeps the track of important details like expiry. It can easily connect with smartphones; whereas people can be received, send notes and calendar that appears on the fridge screen additionally get alert if the refrigerators door is open. For example, LG’s HomeChat in this refrigerator customer can conversation with refrigerator via a messenger app.
News: Samsung introduced the New Family Hub Refrigerator, the Industry’s First IoT-enabled Fridge:
On 10 July 2018; Samsung announces the launched smart refrigerator and named as Family Hub. This Family Hub Refrigerator recognizes individual voice and provides personalized information. Refrigerator pulls out the correct schedule for family member.
Key Players for Market Reports-
Global market report covers prominent players like Electrolux AB, Haier Group Corporation, LG Electronics, Samsung Electronics Co. Ltd, Whirlpool Corporation, Siemens AG, GE Appliance, Hisense Co. Ltd, Midea Group, and Panasonic Corporation and other.
The regions covered in this smart refrigerator market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of smart refrigerator is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Smart Refrigerator Market Dynamics –
Rapidly increasing urbanization, disposable income, technological advancement and rising adoption of smart devices are driving the smart refrigerator market. Increasing technological advancement in smart refrigerators like wireless connectivity through smart phones and other smart devices is expected to positively impact on the growth of the global smart refrigerator market. Moreover, Wi-Fi technology is mostly used in homes and commercial establishments. Furthermore, quick developments in Information Technology infrastructure and topology of wireless communication are the major factors lifting the integration of smart refrigerators with mobile devices such as laptops, smartphones, and tablets. However, high cost is the hindering factor of smart refrigerator market. Moreover, increasing usage of smart devices is anticipated to grow smart refrigerator market. Emerging countries are expected to generate new market opportunities over the forecast period.
Market Segmentation –
By Product
Top freezer refrigerator, Bottom freezer fridge, Side-by-side refrigerator, French door refrigerator
By Distribution Channel
Offline Channel, Online Channel
Regional Analysis –
North America is dominating the smart refrigerator market due the rapid change in lifestyle and adoption of smart technological advanced devices. In North America smart home and connecting devices is on the rise. Rising purchasing power, awareness about the advantages of the product, and rising standard of living in North America is boosting the growth of this market. Additionally, in today’s busy lifestyle the different advanced feature are helpful to order groceries by simply using voice, accessing through the Wi-Fi have increased the smart refrigerator market in the North America. Moreover, Europe is exponentially growing region followed by the North America due to the increasing adoption of smart devices. Asia Pacific is emerging market in smart refrigerator market owing to the increasing disposable income and investment in smart devices.
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