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Global Smart Fridge Market to reach USD 6.36 billion by the end of 2029

Global Smart Fridge Market Size study & Forecast, by Type (Bottom Freezer Refrigerators, Side-by-side Refrigerators, Single Door Refrigerators, Double Door Refrigerators, French Door Refrigerators) by Distribution Channel (Multibrand Stores, Exclusive Stores, Online, Other Distribution Channels) by End-Users (Residential, Commercial) and Regional Analysis, 2022-2029

Product Code: OIRHG-41434599
Publish Date: 20-03-2023
Page: 200

Global Smart Fridge Market is valued at approximately USD 2.66 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.52% over the forecast period 2022-2029. A high-tech fridge is a programmable refrigerator that can recognize the kinds of food kept within and maintain tabs on crucial information such as expiration and consumption. These freezers utilize a barcode or RFID technology, which allows them to immediately access the Internet to get information about the batch and production. The growth in residential development, the construction of green buildings, and the modernization of homes all contribute to the need for the items.

according to the Office of National Statistics U.K. article “Construction product in Great Britain: January 2020” published on March 11, 2020. Construction output in the U.K. grew by 1.4 per cent from October 2019 to January 2020 compared to the prior three months. This increase, based on the same source, was caused by a 2.4 per cent rise in new building projects. The expansion of the rented accommodation, private commercial, and infrastructure sectors, which rose by 2.4 per cent, 2.1 per cent, and 1.7 per cent, respectively, over the same time, also had an impact on this new building work. The refrigerator is readily connected to portable devices such as tablets and cell phones, enabling software-based wireless appliance monitoring. This makes it simple for consumers to manage and control how food is stored in refrigerators. As a result, the market is projected to develop more quickly due to the huge increase in digitalization. However, the high cost of Smart Fridges stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Smart Fridge Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of key market players, rapid adoption of technology and growing demand in commercial sectors. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rising personal disposable income, combined with rising purchasing power in the region and growing demand in residencia sectors would create lucrative growth prospects for the Smart Fridge market across Asia Pacific region.

Major market player included in this report are:
Electrolux AB
Hisense Group
LG Electronics
Midea Group
Samsung Electronics Co. Ltd
Siemens AG
GE Appliance
Haier Group
Whirlpool Corporation
Panasonic Holdings Corporation
Recent Developments in the Market:
 In March 2022, Samsung Electronics unveiled a new customized French door refrigerator that will provide kitchens with greater individuality and convenience.
 In January 2023, The HCA 1.0 interface specification was introduced by the Home Connectivity Alliance (HCA) at the Consumer Electronics Show in Las Vegas, creating an industry standard for Cloud-to-Cloud (C2C) interoperability across long-life appliances, HVAC systems, and TVs within the connected home ecosystem.
Global Smart Fridge Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Distribution Channel, End-Users, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Bottom Freezer Refrigerators
Side-by-side Refrigerators
Single Door Refrigerators
Double Door Refrigerators
French Door Refrigerators
By Distribution Channels:
Multibrand Stores
Exclusive Stores
Other Distribution Channels
By End-Users:
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Smart Fridge Market, by Region, 2019-2029 (USD Billion)
1.2.2. Smart Fridge Market, by Type, 2019-2029 (USD Billion)
1.2.3. Smart Fridge Market, by Distribution Channels, 2019-2029 (USD Billion)
1.2.4. Smart Fridge Market, by End-Users, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Smart Fridge Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Smart Fridge Market Dynamics
3.1. Smart Fridge Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increase in the number of residential constructions Rising disposable income
3.1.2. Market Challenges High Cost of Smart Fridge Security issue
3.1.3. Market Opportunities Rising adoption of IoTs Growing technological advancement in smart fridge
Chapter 4. Global Smart Fridge Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Smart Fridge Market, by Type
6.1. Market Snapshot
6.2. Global Smart Fridge Market by Type, Performance – Potential Analysis
6.3. Global Smart Fridge Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Smart Fridge Market, Sub Segment Analysis
6.4.1. Bottom Freezer Refrigerators
6.4.2. Side-by-side Refrigerators
6.4.3. Single Door Refrigerators
6.4.4. Double Door Refrigerators
6.4.5. French Door Refrigerators
Chapter 7. Global Smart Fridge Market, by Distribution Channels
7.1. Market Snapshot
7.2. Global Smart Fridge Market by Distribution Channels, Performance – Potential Analysis
7.3. Global Smart Fridge Market Estimates & Forecasts by Distribution Channels 2019-2029 (USD Billion)
7.4. Smart Fridge Market, Sub Segment Analysis
7.4.1. Multibrand Stores
7.4.2. Exclusive Stores
7.4.3. Online
7.4.4. Other Distribution Channels
Chapter 8. Global Smart Fridge Market, by End-Users
8.1. Market Snapshot
8.2. Global Smart Fridge Market by End-Users, Performance – Potential Analysis
8.3. Global Smart Fridge Market Estimates & Forecasts by End-Users 2019-2029 (USD Billion)
8.4. Smart Fridge Market, Sub Segment Analysis
8.4.1. Residential
8.4.2. Commercial
Chapter 9. Global Smart Fridge Market, Regional Analysis
9.1. Smart Fridge Market, Regional Market Snapshot
9.2. North America Smart Fridge Market
9.2.1. U.S. Smart Fridge Market Type breakdown estimates & forecasts, 2019-2029 Distribution Channels breakdown estimates & forecasts, 2019-2029 End-users’ breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Smart Fridge Market
9.3. Europe Smart Fridge Market Snapshot
9.3.1. U.K. Smart Fridge Market
9.3.2. Germany Smart Fridge Market
9.3.3. France Smart Fridge Market
9.3.4. Spain Smart Fridge Market
9.3.5. Italy Smart Fridge Market
9.3.6. Rest of Europe Smart Fridge Market
9.4. Asia-Pacific Smart Fridge Market Snapshot
9.4.1. China Smart Fridge Market
9.4.2. India Smart Fridge Market
9.4.3. Japan Smart Fridge Market
9.4.4. Australia Smart Fridge Market
9.4.5. South Korea Smart Fridge Market
9.4.6. Rest of Asia Pacific Smart Fridge Market
9.5. Latin America Smart Fridge Market Snapshot
9.5.1. Brazil Smart Fridge Market
9.5.2. Mexico Smart Fridge Market
9.6. Rest of The World Smart Fridge Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Electrolux AB Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Hisense Group
10.2.3. LG Electronics
10.2.4. Midea Group
10.2.5. Samsung Electronics Co. Ltd
10.2.6. Siemens AG
10.2.7. GE Appliance
10.2.8. Haier Group
10.2.9. Whirlpool Corporation
10.2.10. Panasonic Holdings Corporation
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Market Size Estimation:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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