The Global Smart Refrigerators Market is estimated to be USD 358.64 Mn in 2020 and is expected to reach USD 709.9 Mn by 2025, growing at a CAGR of 14.6%.
Market Dynamics
Key factors, such as a growing demand among the users for advanced electronics such as smart devices along with the growing disposable incomes have helped in promoting the growth of the smart refrigerator market. Moreover, the growing adoption of IoT-enabled devices has further strengthened the growth in the market for smart refrigerators.
However, the high cost of the appliance is estimated to act as a restraining factor in the growth of the market.
Market Segmentation
The Global Smart Refrigerators Market is segmented further based on Type, Price, Technology, End User, Sales Channel, and Geography.
By Type, the market is classified as single door, double door, French door, door-in-door, and side by side. Amongst all, the French door segment is estimated to hold the highest market share.
By Price, the market is classified as Premium, Economy, and Low. Amongst all, the premium segment is estimated to hold the highest market share during the forecast period.
By Technology, the market is classified as Wi-Fi, touchscreen, RFID, Bluetooth connectivity, and cellular technology. Amongst all, the cellular technology segment holds the highest market share.
By End Use, the market is classified as residential and commercial. Amongst all, the residential segment is estimated to hold the highest market share.
By Sales Channel, the market is classified as online and retail. Amongst the two, the retail segment is estimated to hold the highest market share.
By Geography, North America is projected to lead the market.
Recent Developments
1. Samsung and LG have both launched products at the CES 2020 that are highly capable with AI-equipped cameras and can recognize food- 2nd January 2020
2. Electrolux AB along with its partnering company Karma has launched a smart refrigerator for grocery stores with a focus on reducing food wastage. - 6th November 2018
Company Profiles
Some of the companies covered in this report are Electrolux AB, Hisense Co. Ltd, LG Electronics, Midea Group, Samsung Electronics Co. Ltd, Siemens AG, GE Appliance, Haier Group Corporation, Whirlpool Corporation, and Panasonic Corporation.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
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Report Highlights:
Key factors, such as a growing demand among the users for advanced electronics such as smart devices along with the growing disposable incomes have helped in promoting the growth of the smart refrigerator market. Moreover, the growing adoption of IoT-enabled devices has further strengthened the growth in the market for smart refrigerators.
However, the high cost of the appliance is estimated to act as a restraining factor in the growth of the market.
Market Segmentation
The Global Smart Refrigerators Market is segmented further based on Type, Price, Technology, End User, Sales Channel, and Geography.
By Type, the market is classified as single door, double door, French door, door-in-door, and side by side. Amongst all, the French door segment is estimated to hold the highest market share.
By Price, the market is classified as Premium, Economy, and Low. Amongst all, the premium segment is estimated to hold the highest market share during the forecast period.
By Technology, the market is classified as Wi-Fi, touchscreen, RFID, Bluetooth connectivity, and cellular technology. Amongst all, the cellular technology segment holds the highest market share.
By End Use, the market is classified as residential and commercial. Amongst all, the residential segment is estimated to hold the highest market share.
By Sales Channel, the market is classified as online and retail. Amongst the two, the retail segment is estimated to hold the highest market share.
By Geography, North America is projected to lead the market.
Recent Developments
1. Samsung and LG have both launched products at the CES 2020 that are highly capable with AI-equipped cameras and can recognize food- 2nd January 2020
2. Electrolux AB along with its partnering company Karma has launched a smart refrigerator for grocery stores with a focus on reducing food wastage. - 6th November 2018
Company Profiles
Some of the companies covered in this report are Electrolux AB, Hisense Co. Ltd, LG Electronics, Midea Group, Samsung Electronics Co. Ltd, Siemens AG, GE Appliance, Haier Group Corporation, Whirlpool Corporation, and Panasonic Corporation.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Smart Refrigerators Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
- The report also contains the competitive analysis using IGR Positioning Quadrants, the analyst's proprietary competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Global Smart Refrigerators Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 192 |
| Published | March 2021 |
| Forecast Period | 2020 - 2025 |
| Estimated Market Value ( USD | $ 358.64 Million |
| Forecasted Market Value ( USD | $ 709.9 Million |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
Table of Contents
1 Report Description
2 Research Methodology
4 Market Overview
5 Market Analysis
6 Global Smart Refrigerators Market, By Type
7 Global Smart Refrigerators Market, By Price
8 Global Smart Refrigerators Market, By Technology
9 Global Smart Refrigerators Market, By End Use
10 Global Smart Refrigerators Market, By Sales Channel
11 Global Smart Refrigerators Market, By Geography
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
- LG Electronics
- Haier Group Corporation
- Panasonic Corporation
- Samsung Electronics Co. Ltd
- Hisense Co. Ltd (Shiji Group)
- The Whirlpool Corporation
- GE Appliances
- Siemens AG
- Samsung Electronics Co., Ltd
- Midea Group
- Electrolux AB
- Bosch
- Liebherr Group
- Frigidaire
- BSH Home Appliances Corporation
- Aucma
- Danby
- Xiaomi Global Community
- Hitachi, Ltd.
- TCL Electronics Holdings Limited.
