Smart Refrigerator Market Scope
The refrigerator is considered one of the most significant appliances that are being used in almost every place for the purpose of storing foods, drinks, and medicines at cold temperatures, and in a sealed place to avoid exposure. The Smart Fridge with Multimedia Capability for Better Nutrition and Health proposed in focuses on the refrigerator, as one of the appliances that have been changed from being traditional to only store the food to integrating the fridge with TV, radio, internet, and the computer. The growth of the number and variety of devices that are connected to the internet and are collecting data is incredibly rapid. It is projected that there will be over 50 billion devices connected to the internet by 2021. Today, more than two billion consumers worldwide use an internet connection.
The Smart Refrigerator market study is segmented by Type (French Doors, Side-by-Side Doors, Triple Doors, Double Doors and Single Door), by Application (Household and Commercial) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Asia Pacific Players will contribute to the maximum growth of Global Smart Refrigerator market throughout the predicted period.
Electrolux AB (Sweden), Hisense Co. Ltd (China), LG Electronics (South Korea), Midea Group (China), Samsung Electronics Co. Ltd (South Korea), Siemens AG (Germany), GE Appliance (United States), Haier Group Corporation (China), Whirlpool Corporation (United States) and Panasonic Corporation (Japan) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Smart Refrigerator market by Type, Application and Region.
On the basis of geography, the market of Smart Refrigerator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Rest of Europe), MEA (Saudi Arabia, Turkey, Israel, United Arab Emirates, South Africa, Rest of Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In February 2019, LG Electronics USA expanded its smart kitchen appliance partnerships with Tovala to expand its smart kitchen product reach. This partnership aimed to provide Tovala IQ technology compatibility through LG smart cooking appliances.
- Technological Upgradation in Kitchen Appliances
- Trend for Machine to Machine (M2M) Communication
- Increasing Penetration of Internet of Things (IoT) and Artificial Intelligence (AI) Technology
- Increases the Adoption of Smart Kitchen Appliances
- Increasing Online Smart Kitchen Appliances Purchases
- Adoption of Smart Kitchen Appliances In Residential
- High Cost of Smart Refrigerator
Key Target AudienceManufacturers of Smart Refrigerator, Suppliers of Smart Refrigerator, Wholesalers, Distributors and Retailers of Smart Refrigerator, End-User and Others
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Smart Refrigerator Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.