This report provides exclusive insights into the COVID-19 impact on the Smart Refrigerators Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Smart Refrigerators Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Smart Refrigerators Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
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.