A recent report published by Infinium Global Research on smart refrigerators market provides an in-depth analysis of segments and sub-segments in the global as well as regional smart refrigerators market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart refrigerators market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global smart refrigerators market. According to the report, the global smart refrigerators market is projected to grow at a CAGR of 13.9% over the forecast period of 2019-2025.

Market Insight

Smart Refrigerators are high-tech programmed refrigerators that are able to detect the type of items stored in it and keep track of important details such as expiry and usage. The internet-connected refrigerator can read an RFID system or a barcode, through which it collects the batch and manufacture detail of items placed into it. It is also called as an internet refrigerator. Smart refrigerators are used to indicate when the main door or freezer door is opened for a long time, detect the volume of liquid in bottles, indicate when ice is ready and save energy by sensing temperature during winter. Top 5 smart refrigerators are Samsung Family Hub 2.0, GE Profile PFE28PBLTS, Kenmore Smart 75043, LG InstaView ThinQ, and Whirlpool WRX735SDHZ.

The increasing demand for the latest and advanced electronic appliances is the factor driving the smart refrigerators market. Change in lifestyle is one of the factors boosting the smart refrigerators market. Increasing technological development activities such as integration of wireless technology in the smart refrigerators aid to monitor and operate them by using various smart devices such as smartphones, tablets along with compatible software. These are the factors propelling the smart refrigerators market. Moreover, wireless technology aid to reduce the cost of electricity required for controlling and monitoring the smart refrigerators from remote locations. This is another factor to fuel the smart refrigerators market. Smart refrigerators are costly and expensive to repair. This factor remains a major restraint to the smart refrigerators market. Also, lack of awareness regarding benefits as well as proper utilization of technologies is the factor hampering the smart refrigerators market. Privacy and data protection in an inter-connected world offer favorable challenges for smart refrigerators market.

Geographically, North America is dominant in the smart refrigerators market. Rapid technological advancements and high spending power are driving the smart refrigerators market in North America. Europe holds the second largest market share in the smart refrigerators market. Asia Pacific is expected to grow with the highest CAGR over the forecast period. The growing urban population with high purchasing power is the factor expected to boost the smart refrigerators in Asia Pacific. Moreover, the noticeable rise in the adoption of smart appliances is also expected to propel smart refrigerators market in the Asia Pacific.

Segment Covered

The report on global smart refrigerators market covers segments such as type, distribution channel, and end-users. On the basis of type, the sub-markets include single door refrigerators, double door refrigerators, bottom freezer refrigerator, and side by side refrigerators. On the basis of the distribution channel, the sub-markets include modern trade, online channels, and specialty stores. On the basis of end-users, the sub-markets include residential, and commercial.

Companies Profiled:

The report provides profiles of the companies in the market such as Panasonic Corporation, The Whirlpool Corporation, Haier Group Corporation, GE Appliances, Siemens AG, Samsung Electronics Co., Ltd, LG Electronics Inc., Midea Group, Electrolux AB, and Hisense Co., Ltd.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart refrigerators market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.