The global smart refrigerators market size is expected to
reach USD 624.7 million by 2025, according to a new report by Grand View
Research, Inc. It is projected to expand at a CAGR of 13.7% during the forecast
period. Rapid advancements in IT infrastructure and wireless communication is
anticipated to favor the growth. Multiple benefits such as energy efficiency,
optimized cooling operations, facilities of digital display of the product
expiry, alerts for timely usage of foods are spurring the acceptance of smart
refrigerators across the residential and commercial sectors.
French door category is expected to register
the fastest CAGR of 14.0% from 2018 to 2025, thereby accounting for a revenue
share of 20.2% by 2025. This product generally has 3 or 4 doors to support the
expanding number of nuclear families. Moreover, habit of stocking ample
groceries due to busy lifestyles and growing trend of storing preserved food
are expected to support the growth of this category in near future. French door
smart refrigerators also have a wide application in the food service industry
and food retailers wherein they need to maintain large stock of products to
serve the customers.
In 2018, Electrolux and a Sweden based startup
Karma had introduced smart refrigerators for grocery stores. The product is
integrated with Karma’s application and will help reduce food wastage. It is
designed to efficiently create storage and pickup points for all the unsold
products. This facility will help the retailers keep a track of the expiry
dates of left over items and sell them off on time.
In 2018, North America led the global smart
refrigerators market with a share of 31.2%. Rising purchasing power, awareness
about the advantages of the product, and rising standard of living have been
driving growth of the regional market.
Asia Pacific is expected to expand at the
fastest CAGR of 15% over the next few years. The growing urban population with
high purchasing power is expected to favor strong regional demand for smart and
connected refrigerators. Moreover, the noticeable rise in adoption of smart
appliances is also expected to propel the regional market growth over the
forecast period.
Some of the key players operating in the
global market include 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.
Companies are continuously upgrading and
introducing enhanced product features to cater to the changing requirements of
the consumers with busy lifestyles. For instance, in 2018, Samsung introduced a
new fridge integrated with a 21-inch touch display, cameras, and speakers, to
allow the consumers to list down grocery items, read out schedules, view food
expiry dates on digital screen, and watch video clips.
For full research report on Smart
Refrigerators Market visit here: https://www.grandviewresearch.com/industry-analysis/smart-refrigerators-market
Further key
findings from the report suggest:
- Double door segment was estimated to account
for the highest revenue share of about 33.6% in 2018
- French door segment is expected to register
the fastest CAGR of 14% during the forecast period
- Commercial end use is expected to have the
fastest acceptance, thereby expanding at a CAGR of 14.1% over the next few
years
- Offline distribution channel is expected to
witness the fastest CAGR of 71.2% by 2025
- Asia Pacific smart refrigerators market is
expected to register a CAGR of 15% by 2025, owing to developing economies,
improved standards of living, and rising disposable income
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/smart-refrigerators-market/request/rs1
Grand
View Research has segmented the global smart refrigerators market on the basis
of product, end user, distribution channel, and region:
Smart
Refrigerators Door Type Outlook (Revenue, USD Million, 2015 - 2025)
- Single
- Double
- Side by Side
- French
Smart
Refrigerators End User Outlook (Revenue, USD Million; 2015 - 2025)
- Residential
- Commercial
Smart
Refrigerators Distribution Channel Outlook (Revenue, USD Million; 2015 - 2025)
- Offline
- Online
Smart
Refrigerators Regional Outlook (Revenue, USD Million; 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- Asia Pacific
- Japan
- China
- India
- Central & South
America
- Middle East &
Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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