Global Smart Refrigerator Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Smart Refrigerator Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart refrigerator market report has been segmented on the basis of type, technology, distribution channel, end use, and region.
Global Smart Refrigerator Market: Overview
Smart refrigerator is also known as an Internet refrigerator, can be defined as an advanced and automated refrigerator which is capable of detecting the type of food stuff or items stored within it as well as keeping track of essential details about those items stored within it such as expiration and usability. These refrigerators use Radio Frequency Identification (RIFD) or barcode system, that uses Internet for collecting the data such as Batch and manufacture related details.
Global Smart Refrigerator Market: Dynamics
Increasing revolutions in IoT technology and rapidly growing consumer electronics industry are some of the major factors expected to drive growth of the global market. In addition, increasing demand for latest and advanced electronic appliances coupled with increasing disposable income of the population is a key factor anticipated to augment the target market growth. Increasing technological development activities such as integration of wireless technology in smart refrigerators aid to monitor and operate them by using various smart devices such as smartphones, tablets along with compatible softwares. These are some additional factors projected to support revenue growth of the global 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 expected to fuel the target market growth over the forecast period.
However, expensive cost of smart refrigerators is one of the major factor expected to hamper the global market growth over the forecast period.
Global Smart Refrigerator Market: Segmental Analysis
Among the type segments, the French door refrigerator segment is projected to account for significant revenue shares in the global market during the forecast period.
Among the technology segments, the Radio Frequency Identification (RIFD) segment is expected to register significant growth.
Among the distribution channel segments, the offline segment is projected to contribute significant revenue shares in the global market. This is owing to various after sales service provided by retailers.
Among the end use segments, the residential segment is expected to register substantial growth, owing to increased spending capabilities and inclination towards advanced electronic appliances.
Global Smart Refrigerator Market: Regional Analysis
Asia Pacific market for smart refrigerator is expected to dominate the global market and continue its dominance over the forecast period. This can be attributed to strong presence of leading manufacturing companies which also aid to increase the revenue growth of the target market in this region. Moreover, growing popularity of high-tech appliances and spending on it coupled with increasing disposable income are some of the key factors anticipated to propel the target market growth. Markets in Europe and North America are projected to register significant growth, owing to quick adoption of latest technologies. In addition, high demand for smart refrigerators among tech-savvy population coupled with willingness to pay more for premium products are some other factors projected to propel the target market growth in these regions.
Global Smart Refrigerator Market Segmentation:
Segmentation by Type:
- Top Freezer Refrigerator
- Bottom Freezer Refrigerator
- French door Refrigerator
- Side-by-side Refrigerator
- Others (Single Door, Double Door, etc.)
Segmentation by Technology:
- Radio Frequency Identification (RIFD)
- Cellular Technology
Segmentation by Distribution Channel:
- Offline Channel
- Online Channel
Segmentation by End User:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- AB Electrolux
- Haier Group Corporation
- LG Electronics
- Samsung Electronics Co. Ltd.
- Whirlpool Corporation
- Siemens AG
- GE Appliance
- Hisense Co. Ltd.
- Midea Group
- Panasonic Corporation
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