Report Code: A05098 | Pages: NA | Mar 2023 | 6344 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !Smart refrigerator is also known as advanced refrigerator because it is built with a high-tech programed sensor, which helps detect the type of items stored inside and keep the track of all-important details such as expiry and usage. These refrigerators scan the items through barcode and RFID and determine itself whenever a food item needs to be replenished. Smart refrigerator allows remote monitoring and can be controlled from anywhere and from any device having access.
Electrolux Group the world’s largest manufacturer of appliances has recently launched a product named “Electrolux Screen Fridge”, which helps in grocery shopping, dinner plans, and tracking of items. In addition, LG introduced Smart ThinQ LFX31995ST the first internet connected fridge.
The smart refrigerator market is expected to witness growth in the forthcoming year (from 2019 to 2026) due to increase in demand for technological advancements in consumer electronics industry vertical. Increase in urban population followed by the rise in disposable incomes of the consumers contributes to the smart refrigerator market growth. Purchasing power increases with the rise in disposable income of the consumers. This fosters the growth of the smart refrigerator market. Various technological advancements such as artificial intelligence, IoT, and wireless communication create lucrative opportunities for the market. The integration of such technologies in smart refrigerators enhance its processing and allows remote monitoring and control.
Factors such as growth in adoption of smart devices in developing regions and increase in use of IoT technology in smart devices are the major key drivers for the growth of the smart refrigerator market. However, high installation and maintenance cost act as a major restraint and hamper the market growth globally. Furthermore, rise in adoption of smart cities and smart infrastructures and increase in investments in R&D related to IoT provide huge opportunities for the growth of the smart refrigerator market.
The smart refrigerator market is segmented into type, technology, application, price, and region. Based on type, the market is classified into French doors, triple doors, double doors, single doors, and side by side doors. Based on technology, it is categorized into WIFI, touchscreen, RFID, Bluetooth Connectivity, and cellular technology. Based on application, the market is analyzed across residential and commercial. Based on price, the market is segregated into high, mid, and low. Based on region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the smart refrigerator industry are Panasonic, Siemens, Bosch, Whirlpool, Samsung, Electrolux, LG, Haier, Media, and Hisense. These key players focus on R&D of technology advancement, which is easily incorporated with an appliance and makes product effective. The key development strategies include collaboration and partnership.
Smart Refrigerator Market Report Highlights
Aspects | Details |
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By Type |
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By End-Use |
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By Sales Channel |
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By Geography |
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Key Market Players | Aucma, BSH Hausgeräte GmbH, Danby Appliances Inc., Dongbu Daewoo Electronics, Electrolux AB, Frigidaire, Haier Group Corporation, Hisense Co. Ltd., Kenmore, LG Electronics Inc. |
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