SMART FRIDGE MARKET - GROWTH, TRENDS, AND FORECAST (2019-2024)

The Market is Segmented By Type (Side-by-side Refrigerators, Bottom Freezer Refrigerators, Double Door Refrigerators, Single Door Refrigerators), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, and Others), by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa)

Market Snapshot

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Study Period:

2015-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

17%

Key Players:

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Market Overview

The smart fridge features a touch-screen, speakers, and a voice assistant that allows someone to build shopping lists, post photos, play music and even control the home’s other smart devices, like lights and thermostats, right from the fridge. The smart fridge also sends alerts about expiring food and offers recipes through a meal planner for meals that include those expiring items.

  • The rising consumer electronics industry, growing preference towards customer personalization and customization are some of the drivers driving the growth of the global smart fridge market.
  • Increasing purchasing power and rising disposable income will further contribute towards the adoption of smart fridge due to the improving lifestyle conditions.
  • Another important reason behind rising demand of smart fridge is tech savvy millennial population.
  • Smart fridges are capable of connecting to the internet, and recently there are new models you can use to order groceries by simply using your voice. For instance, one Samsung model uses the Groceries by Mastercard mobile app to help you easily order and pay for items you may need.

Scope of the Report

A complete background analysis of the Smart Fridge Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics and market overview is covered in the report.

By Type
Side-by-side Refrigerators
Bottom Freezer Refrigerators
Double Door Refrigerators
Single Door Refrigerators
By End-User
Residential
Commercial
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online
Others
Geography
North America
Europe
Asia-Pacific
South America
Middle East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Residential Application Segment is Dominating the Market

In the case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting towards ready-to-eat and frozen food. The residential application segment accounted for a larger revenue share in 2017 and is likely to expand at a healthy CAGR over the forecast period

A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchen. This may be a drawback for the residential application segment growth.

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Asia-Pacific is Expected to Witness the Highest Growth

By Geography, Smart Fridge market can be segmented into North America, Europe, Asia-Pacific South America, and the Middle East and Africa.

in the North America region, the market is mature as compared to the other regional market as they are fast in the adoption of technology. Smart Fridge market in the Asia-Pacific expected to witness maximum potential in the forecast period. Rising personal disposable coupled with the increasing purchasing power of people in the region is anticipated to expand the growth of the market over the forecast period. Smart Refrigerator market in Europe, South America and the Middle East and Africa are also projected to witness positive growth during the forecast period. 

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Competitive Landscape

The report covers major international players operating in the Smart Fridge Market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.

Major Players

  1. Electrolux Group
  2. Siemens AG
  3. Haier Group Corporation
  4. Whirlpool Corporation
  5. GE Appliances

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Key Deliverables of the Study

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Opportunities

    5. 4.5 Trends Influencing the Smart Fridge Market

    6. 4.6 Value Chain Analysis of the Smart Fridge Market

    7. 4.7 Porter's Five Forces Analysis

    8. 4.8 Technological Innovations

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Side-by-side Refrigerators

      2. 5.1.2 Bottom Freezer Refrigerators

      3. 5.1.3 Double Door Refrigerators

      4. 5.1.4 Single Door Refrigerators

    2. 5.2 By End-User

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

    3. 5.3 By Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Specialty Stores

      3. 5.3.3 Online

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 South America

      5. 5.4.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 COMPANY PROFILES

      1. 6.1.1 Electrolux Group

      2. 6.1.2 Siemens AG

      3. 6.1.3 Haier Group Corporation

      4. 6.1.4 Whirlpool Corporation

      5. 6.1.5 GE Appliance

      6. 6.1.6 Samsung Electronics Co. Ltd

      7. 6.1.7 Hisense Co. Ltd

      8. 6.1.8 Midea Group

      9. 6.1.9 Panasonic Corporation

      10. 6.1.10 Whirlpool Corporation

      11. 6.1.11 Hitachi*

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. APPENDIX

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