What is the Historic and Current Scenario of the Smart Refrigerators Market?
The smart refrigerators market has seen considerable growth due to a variety of factors.
• The market size of smart refrigerators has seen swift expansion in the past few years. The market’s expected progression is from $6.82 billion in 2024 to $7.62 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.7%.
The significant growth during the historical period is linked to factors like rising affluence, lifestyle alterations, concerns about energy efficiency and sustainability, increase in home automation trends, consumer demand for highly advanced features, and the escalation of connectivity and internet penetration.
What Does Future Hold for The Smart Refrigerators Market Size?
The smart refrigerators market is expected to maintain its strong growth trajectory in upcoming years.
• The market for smart refrigerators is projected to experience swift expansion in the forthcoming years, surging to a value of $11.23 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 10.2%.
Factors such as the incorporation of smart kitchen ecosystem, emphasis on wellness and health, integration of data analytics and AI, smart grid and energy management integration, together with the increase in urbanization and compact living spaces are responsible for the growth during the projection period. Future trends include the integration of health and wellness monitoring, partnerships with food and grocery platforms, enhanced focus on design aesthetics and personalisation, the amalgamation of digital shopping and e-commerce, and environmental monitoring and reporting.
What Are the Critical Driver Fuelling the Smart Refrigerators Market's Growth?
The smart refrigerator market's growth is being propelled by the increasing adoption of smart cities and infrastructures. The Internet of Things (IoT) market, which includes smart home devices and appliances, is continually expanding, making homes more intelligent through devices with internet connectivity. Products like Google Nest, Ring, and smart refrigerators have kept users on their toes when it comes to the IoT trend, which involves connecting everyday objects via the Internet. IoT analytics predict a 9% increase in the number of global connected IoT devices, amounting to 12.3 billion active endpoints, and anticipate that number to reach 27 billion connections by 2025. Because of the growing interest in smart homes, companies are investing more in IoT, fueling the smart refrigerator market.
What Is The Segmentation Of The Global Smart Refrigerators Market?
The smart refrigerators market covered in this report is segmented –
1) By Product: Top Freezer Refrigerator, Bottom Freezer Fridge, Side-Sy-Side Refrigerator, French Door Refrigerator
2) By Technology: Wi-Fi, Radio Frequency Identification (RFID), Cellular Technology, Bluetooth, ZigBee, Touchscreen
3) By Door Type: Single, Double, Side by Side, French
4) By End Use: Residential, Commercial
Subsegments:
1) By Top Freezer Refrigerator: Standard Top Freezer, Energy-Efficient Top Freezer
2) By Bottom Freezer Fridge: Standard Bottom Freezer, Energy-Efficient Bottom Freezer
3) By Side-By-Side Refrigerator: Standard Side-By-Side, Energy-Efficient Side-By-Side
4) By French Door Refrigerator: Standard French Door, Energy-Efficient French Door
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What Emerging Trends Are Shaping The Smart Refrigerators Market Landscape?
A significant trend in the smart refrigerator market is the IoT-enabled family hub refrigerator. This innovative Family Hub refrigerator offers functionalities such as remote inspection of the fridge contents, leaving messages on the White Board, viewing who is at the entrance via a linked doorbell, thermostat adjustment, CCTV video watching, recipe suggestions, and shopping advice, among others. For instance, Samsung Electronics Co. Ltd., a major appliance and consumer electronics business based in South Korea, introduced new products to its Bespoke Home range for connected and personalized kitchen experiences in the Consumer Electronics Show (CES) 2023, held in February of that year. This expanded range includes a wider variety of Bespoke refrigerator designs and a larger 32-inch screen to amplify the immersive experience of the Bespoke 4-Door Flex with Family Hub+.
Who Are the Key Players in the Smart Refrigerators Market?
Major companies operating in the smart refrigerators market include:
• Samsung Electronics Co. Ltd.
• Bosch Group
• Hitachi Ltd.
• Siemens AG
• LG Electronics Inc. (LG Corporation)
• Panasonic Corporation
• Haier Group Corporation
• Midea Group Co. Ltd.
• Xiaomi Corporation
• Toshiba Corporation
• Whirlpool Corporation
• Sharp Corporation
• Kenmore (Sears Holdings Corporation)
• Liebherr Group
• Jenn-Air
• Electrolux AB
• Frigidaire
• Hisense Kelon Electrical Appliances Co. Ltd.
• TCL Corporation
• Arcelik A.S. (Arcelik)
• GE Appliances
• Fisher & Paykel
• Thermador
• Sub-Zero Group Inc.
• Viking Range
• Dacor Inc.
• Grundig AG
• Beko
• Gorenje Group
• Smeg S.p.A.
What are the Regional Insights into the Smart Refrigerators Market?
Asia-Pacific was the largest region in the smart refrigerators market in 2024. Western Europe was the second-largest region in the global smart refrigerators market share. The regions covered in the smart refrigerators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
