Smart Refrigerators Global Market Report 2023 – By Product (Top Freezer Refrigerator, Bottom Freezer Fridge, SideSySide Refrigerator, French Door Refrigerator), By Technology (WiFi, Radio Frequency Identification (RFID), Cellular Technology, Bluetooth, ZigBee, Touchscreen), By Door Type (Single, Double, Side by Side, French), By End Use (Residential, Commercial) – Market Size, Trends, And Global Forecast 2023-2032

A refrigerator is defined as an electrical appliance used to preserve food at cold temperatures. A freezer is part of a refrigerator where the temperature is maintained below the freezing point for storing food for longer periods. The main types of household refrigerators and home freezers are refrigerators, freezers, ice boxes, and refrigerator/freezer combinations. A refrigerator is an electronic household appliance that keeps food and drinks cold by pushing a liquid refrigerant through a sealed system, which causes it to vaporize, and draw heat out of the fridge. The vaporized refrigerant is then passed through coils outside the fridge (at the back or bottom). This warms up the vapor and changes it back into a liquid. The various door types of household refrigerators include single doors, double doors, side-by-side doors, and French doors. The different freezer locations are freezer on top, freezer on bottom, and freezer less, which are used for frozen vegetables and fruit, frozen meat, and other applications. The main types of household refrigerators and home freezers marketed by distribution channel are: specialty stores, supermarkets/hypermarkets, online, and others. The global household refrigerator and home freezer market is segmented - 1) By Type: Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations 2) By Refrigerator Door Type: Single Door, Double Door, Side by Side Door, French Door 3) By Freezer Location: Freezer on top, Freezer on bottom, Freezer less 4) By Application: Frozen Vegetable and Fruit, Frozen Meat, Other Applications 5) By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Online, Other Distribution Channels The global household refrigerator and home freezer market size will grow from $55.55 billion in 2022 to $59.96 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global household refrigerator and home freezer market is expected to grow to $78.88 billion in 2027 at a CAGR of 7.1%. The increasing consumption of processed food products such as frozen meat, vegetables, and dairy products as well as change in the dietary habits of consumers is driving the household refrigerator and freezer market growth. Due to busy lifestyles, consumers are increasingly relying on processed food and prepared meals that require refrigerators for storage. According to Rentokil, the processed food industries are valued at $2 trillion globally. The huge market for processed food products is expected to drive the growth of the household refrigerators and home freezers market. Major players in the household refrigerator and home freezer market are Aggreko, Atlas CopCo., Caterpillar Inc., FG Wilson, Kirloskar Electric Co. Ltd., Cummins Inc., Rolls-Royce, Wärtsilä, Yanmar Co. Ltd., and Briggs & Stratton Intense pricing pressure on manufacturers is restraining the growth of the household refrigerator and freezer market. The market has numerous players competing in terms of price, specifications, and other characteristics. Durable goods such as TV, and freezers are more price elastic than necessities. People are more likely to purchase when there is a reduction in the price of the goods and less likely to purchase when there is a price hike. Household refrigerators and home freezer manufacturers are implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human-machine interface designs in refrigerators and also manufacturing refrigerators that can automatically recognize the type and weight of the food stored in the refrigerators and adjust and monitor the temperature as per requirement. In September 2021, Whirlpool, a US-based home appliances company acquired Elica for a deal amount of $57 million. Through this acquisition, Whirlpool expands its portfolio in kitchen appliances. Elica is an Italy-based company operating in home appliances including house- hold refrigeration and home-freezers. Asia-Pacific was the largest region in the household refrigerator and home freezer market in 2022. Western Europe was the second-largest region in the global household refrigerator and home freezer market share. The regions covered in the global household refrigerator and home freezer market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the household refrigerator and home freezer market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The household refrigerators and home freezers market consists of the sales of top-freezer refrigerators, bottom-freezer refrigerators, side-by-side refrigerators, french door refrigerators, upright freezers, chest freezers, handle ice boxes, wheeled ice boxes, and other household refrigerators and home freezers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The household refrigerator and home freezer market research report is one of a series of new reports from The Business Research Company that provides a household refrigerator and home freezer market statistics, including household refrigerator and home freezer industry global market size, regional shares, competitors with a household refrigerator and home freezer market share, detailed household refrigerator and home freezer market segments, market trends and opportunities, and any further data you may need to thrive in the household refrigerator and home freezer industry. This household refrigerator and home freezer market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A refrigerator is defined as an electrical appliance used to preserve food at cold temperatures. The main types of refrigerators are single-door, double-door, French-door, and others. A single-door refrigerator has only one outer door, the freezer also has a door, but it can be reached only through the outer door. Also, they are usually available in sizes as small as 50 liters and can go up to 250 liters. The various freezer locations, including freezer-on-top, freezer-on-bottom, and freezer-less, are used for household, commercial, and industrial applications. The refrigerators are distributed through specialty retailers, department stores, mass retailers/hypermarkets/supermarkets, discount stores, and online channels. The global refrigerators market is segmented - 1) By Type: Single-Door, Double-Door, French-Door, Other Types 2) By Distribution Channel: Specialty Retailers, Department Stores, Mass Retailers/Hypermarkets/Supermarkets, Discount Stores, Online 3) By Application: Household, Commercial Use, Industrial Use 4) By Freezer Location: Freezer-on-Top, Freezer-on-Bottom, Freezer-Less The global refrigerators market size will grow from $45.27 billion in 2022 to $48.79 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global refrigerators is expected to grow to $63.66 billion in 2027 at a CAGR of 6.9%. The increasing consumption of processed food products such as frozen meat, vegetables, and dairy products as well as change in the dietary habits of consumers is driving the refrigerators market growth. Due to busy lifestyles, consumers are increasingly relying on processed food and prepared meals that require refrigerators for storage. According to Rentokil, the processed food industries are valued at $2 trillion globally. The huge market for processed food products is expected to drive the growth of the refrigerators market. Major players in the refrigerators market are Electrolux, Haier, LG Electronics, Samsung Electronics, Whirlpool, Hitachi, Bosch, Hisense, Sharp, and Siemens. Intense pricing pressure on manufacturers is restraining the growth of the refrigerators market. The market has numerous players competing in terms of price, specifications, and other characteristics. Durable goods such as TV, and freezers are more price elastic than necessities. People are more likely to purchase when there is a reduction in the price of the goods and less likely to purchase when there is a price hike. Refrigerators manufacturers are implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human-machine interface designs in refrigerators and also manufacturing refrigerators that can automatically recognize the type and weight of the food stored in the refrigerators, and adjust and monitor the temperature as required. In November 2021, CoolSys, Inc., an US-based company that provides refrigeration, HVAC, engineering, and energy solutions, acquired Triangle Refrigeration for an undisclosed amount. Through this acquisition, CoolSys, Inc. aims to expand its market presence throughout the Northeast and Mid-Atlantic regions. Triangle Refrigeration is a US-based company operating in the refrigerator industry. Asia-Pacific was the largest region in the refrigerators market in 2022. Western Europe was the second-largest region in the global refrigerators market share. The regions covered in the global refrigerators market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the refrigerators market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The refrigerators market consists of sales of double-door refrigerators, french-door refrigerators, and single-door refrigerators. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The refrigerators market research report is one of a series of new reports from The Business Research Company that provides refrigerators market statistics, including refrigerators industry global market size, regional shares, competitors with a refrigerators market share, detailed refrigerators market segments, market trends, and opportunities, and any further data you may need to thrive in the refrigerators industry. This refrigerators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Smart home security is a group of physical and technological components that work together to allow users to remotely monitor and manage their houses in real-time, alerting homeowners to strange behaviour or unwanted attempts to enter doors or windows. The main products of smart home security are smart alarms, smart cameras and monitoring systems, smart locks and sensors, and smart detectors. A smart alarm is a system that uses wireless technology, home networks, and mobile phones to integrate security with day-to-day life. The components of smart home security are hardware, software, and service. The various types of applications are in independent homes, apartments, and condominiums. The global smart home security market is segmented - 1) By Product: Smart Alarms, Smart Camera and Monitoring System, Smart Locks and Sensors, Smart Detectors 2) By Application: Independent Homes, Apartments, Condominiums 3) By Component: Hardware, Software, Service The global smart home security market size will grow from $3.27 billion in 2022 to $3.96 billion in 2023 at a compound annual growth rate (CAGR) of 21.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart home security market size is expected to grow to $8.39 billion in 2027 at a CAGR of 20.6%. The smart home security market is driven by increasing crime rates across the globe. With the increasing crime rates, the consumers are increasingly focusing on safety and security systems especially in residential areas. Smart home devices such as smart alarms, smart cameras, and smart lockers are being preferred by the households to be more safe and secure. According to home burglary statistics, 88% of all burglaries are residential in nature and there is 300% possibility of theft in homes without security systems. Moreover, according to an article published by Federal Bureau of Investigation Crime Data Explorer, a US-based provider of statistics in law enforcement, the FBI estimated crime statistics for the country in 2021 based on data received from 11,794 of the country's 18,806 law enforcement agencies that year. There were 694,050 violent crime incidents and 817,020 offences reported in the United States in 2021 by 11,794 law enforcement agencies that submitted National Incident-Based Reporting System (NIBRS) data, accounting for 64% of the total population. Therefore, the increasing crime rates across the globe are driving the smart home security market growth. Major players in the smart home security market are ADT, Amazon, Honeywell International, Hangzhou Hikvision Digital Technology, Frontpoint Security Solutions, Ring, Samsung, Vivint Smart Home Security, Simpli Safe, Robert Bosch, Protect America, Alphabet, Apple, Comcast, Netgear, Skybell Technologies, Alarm.com, Canary Connect, AT&T, August Home, Google, Butterfleye, Tyco Security Products, Livewatch Security, G4S, Cocoon Labs, Legrand, and Ingersoll Rand. The high installation costs of smart home security devices is restraining the growth of smart home security market. Being a relatively new technology, the setup cost for smart home security and the cost of other related expenses such as utilities, maintenance, and repair of the technology are high as well. Cost of home security devices depends on the plan of the installation and size of the property. Installation of alarm systems and security cameras is more expensive when compared to other smart home security devices. The basic smart home security system consisting of a burglar alarm, thermostat, outdoor lighting and a backdoor lock which can be controlled from remote device costs $2,500. And an advanced and high-end security and home automation systems cost $1.8 million. For instance, in November 2022, according to an article published by Safewise, a US-based provider of information and tools on internet security and home safety, monitoring costs for a home security system range from $5 to $65 per month, with an average of $32 per month. Installation costs range from $0 to $200, and basic equipment costs $350, individual equipment costs between $5 and $400. Smart home security systems manufacturers are increasingly integrating technologies with visual recognition based on AI (Artificial Intelligence) in security devices. AI is developing to a new stage where the security confirmation and authentication will be processed from face and visual recognition. Home security systems such as consumer video cameras are integrated with AI technology with a new security validation framework to enhance safety and security through facial recognition, fingerprints and voice recognition. AI is proposed to be applied in smart alarms to create databases of all incoming alerts, which then could be analyzed to predict false alarms. For instance, in June 2022, Infineon Technologies AG, a Germany-based manufacturer of semiconductors, launched its battery-operated Smart Alarm System (SAS). The technology platform uses sensor fusion based on artificial intelligence/machine learning (AI/ML) to achieve high precision and extremely low-power operation. Performance is astounding when this technique is used in conjunction with low-power wake-on acoustic event detection. The compact design achieves equal to or greater battery life compared to less sophisticated solutions while outperforming the detection accuracy of acoustic-only alarm systems currently used in smart homes and buildings and other IoT applications. California's Senate Bill 327, states the security regulations to be followed for all devices that connect to the internet, including smart home security. The bill requires the manufacturer of such a device to be equipped with appropriate security features, designed to prevent unauthorized access, modification, or information disclosure. The bill states that the information collected by the device should be appropriate and protected from unauthorized use. Also, if the device needs to be used outside the local area network, the user should generate a new password other than the one allotted to it by default, in order to prevent attack by hackers. This bill is proposed to be effective from January 1, 2020, in California, US. In September 2021, Security Alarm Corporation (SAC), a commercial and residential systems integration company, acquired Alert Alarm Systems Plus, Inc. (AASP) of Sarasota, FL. The goal of this acquisition is to expand the company's Gulf Coast and AASP markets. Alert Alarm Systems Plus, Inc.'s company offers security control equipment and monitoring services. The Asia-Pacific was the largest region in the smart home security market in 2022. Asia-Pacific is expected to be the fastest-growing region in the global smart home security market report during the forecast period. The regions covered in the global smart home security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the smart home security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The smart home security market consists of sales of security devices for household use that can be connected to Wi-Fi and accessed from anywhere using smartphones, smartwatches or voice. The security devices produced include devices such as smart alarms, smart cameras, smart locks, smart detectors, and others. This market does not include the installation of these devices and/or integration with the home set-up. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The smart home security market research report is one of a series of new reports from The Business Research Company that provides smart home security market statistics, including smart home security industry global market size, regional shares, competitors with a smart home security market share, detailed smart home security market segments, market trends and opportunities, and any further data you may need to thrive in the smart home security industry. This smart home security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The refrigerants can be used as primary working fluids in absorption refrigeration systems or as secondary fluids to transmit thermal energy from one medium to the other. A refrigerant is a chemical blend of fluids that serves as a cooling agent in heat pumps and refrigeration cycles. It operates on the concept of phase transition, which converts liquid to gas and vice versa at varying temperatures. The main types of refrigerants are halocarbons, azeotropic, zeotropic, inorganic refrigerants, hydrocarbons, and others. Halocarbons are organic compounds with several or all hydrogen atoms replaced with halogen atoms, usually fluorine or chlorine. It is used in air conditioners, refrigerators, chillers, heat pumps, electronics devices, and others. The global refrigerants market is segmented - 1) By Type: Halocarbons, Azeotropic, Zeotropic, Inorganic Refrigerants, Hydrocarbons, Other Types 2) By Application: Air Conditioners, Refrigerators, Chillers, Heat Pumps, Electronics Devices, Other Applications The global refrigerants market size grew from $22.93 billion in 2022 to $25.34 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the global refrigerants is expected to grow to $34.23 billion in 2027 at a CAGR of 7.8%. The rising demand for air conditioning is expected to drive the growth of the refrigerants market in the coming years. The increasing temperature globally increased the demand for cooling systems. According to the World Meteorological Organization (WMO), in 2020, the average temperature across the globe was 1.2 °C higher than the above pre-industrial era (1880) temperatures. This drives the demand for air conditioning, hence refrigerants. A refrigerant is a chemical compound that is found in air conditioners. It absorbs heat from the surroundings and releases cool air after passing through air conditioners and evaporators. For instance, according to the International Energy Agency (IEA) estimates, by 2050 around two-thirds of the world’s households will have an air conditioner. Developing economies such as India, China, and Indonesia together will account for half of the total number of air conditioners. Therefore, the increasing temperature globally increasing demand for air conditioning and is expected to propel the market for refrigerants market. Major players in the refrigerants market report are Arkema SA, Dongyue Group Co Ltd., Honeywell International Inc., The Chemours Company, Daikin Industries, Gujarat Fluorochemicals Limited, and Navin Fluorine International Ltd. The growing technological advancements are shaping the refrigerants market. Major Players operating in the refrigerants sector are focused on developing technological solutions for refrigerants to strengthen their position. For instance, in February 2020, Honeywell, a US-based company that delivers innovative technologies to customers launched Solstice N15 (R-515B) based on HVAC technology. Solstice N15 (R-515B) is a novel non-flammable refrigerant with a low global warming potential (GWP) that can be used in chillers and heat pumps. In July 2022, A-Gas, a UK-based manufacturer of industrial gases, refrigerants and other compounds acquired Certified Refrigerant Services, Inc. for an undisclosed amount. With this acquisition, CRS would expand the A-Gas’ refrigerant business in the USA and demonstrates the company’s interests on the recovery and reclamation of refrigerant gases in a safe and efficient manner. Certified Refrigerant Services, Inc. is a US-based provider of refrigerant services. Asia-Pacific was the largest region in the refrigerants market in 2022. Asia-Pacific is predicted to record the fastest growth in the global refrigerants market share during the forecast period. The regions covered in the refrigerants market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the refrigerants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The refrigerants market consists of sales of hydrocarbons, water and ammonia. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The refrigerants market research report is one of a series of new reports from The Business Research Company that provides refrigerants market statistics, including refrigerants industry global market size, regional shares, competitors with a refrigerants market share, detailed refrigerants market segments, market trends and opportunities, and any further data you may need to thrive in the refrigerants industry. This refrigerants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Medical refrigerators are electronic equipment that are used for storing a variety of samples cool safe. These are used to store vaccines and biological samples including blood, blood derivatives, biological reagents, vaccines, pharmaceuticals, flammable chemicals, ribonucleic acid (RBA), and deoxyribonucleic acid (DRA) (DNA). The main types of medical refrigerators are blood bank refrigerators and plasma freezers, laboratory refrigerators and freezers, pharmacy refrigerators and freezers, chromatography refrigerators and freezers, enzyme refrigerators and freezers, ultra-low-temperature freezers, and cryogenic storage systems. The blood bank refrigerator keeps whole blood, blood components (such as blood cells and plasma), and reagents are safe and accessible. It ensures the freshness and integrity of blood and blood components. They are used by various end-users such as blood banks, pharmaceutical companies, hospitals and pharmacies, research institutes, and medical and diagnostic centers. There are different designs of medical refrigerators such as explosive-proof refrigerators, under counter medical refrigerators, countertop medical refrigerators, and flammable material storage refrigerators and the temperature range of the medical refrigerators is between 2 °C to 8 °C, between 0 °C to -40 °C, and under -40 °C. The storage volume capacities of the medical refrigerators are below 50 litres, 50 to 200 litres, 200 to 400 litres, 400 to 600 litres, and more than 600 litres. The global medical refrigerators market is segmented - 1) By Product Type: Blood Bank Refrigerator And Plasma Freezer, Laboratory Refrigerator And Freezer, Pharmacy Refrigerator And Freezer, Chromatography Refrigerator And Freezer, Enzyme Refrigerator And Freezer, Ultra-Low-Temperature freezers, Cryogenic Storage Systems 2) By Design Type: Explosive-Proof Refirgerators, Undercounter Medical Refrigerators, Countertop Medical Refrigerators, Flammable Material Storage Refrigerators 3) By Temperature Control Range: Between 2 °C and 8 °C, Between 0 °C and -40 °C, and Under -40 °C 4) By Volume: Below 50 Litres, 50-200 Litres, 200-400 Litres, 400-600 Litres, More Than 600 Litres 5) By End-User: Blood Banks, Pharmaceutical Companies, Hospital and Pharmacies, Research Institutes, Medical And Diagnostic Centres The global medical refrigerators market size grew from $4.14 billion in 2022 to $4.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global medical refrigerators is expected to grow to $5.8 billion in 2027 at a CAGR of 7.0%. The rising demand for storing biological products, blood samples, blood reagents, vaccines, DNA samples, and other chemicals is propelling the growth of the medical refrigerator market. The increased demand for biologic products is driven by an increase in the demand for donated blood, an increase in the number of blood donors worldwide, and an increase in the prevalence of infectious illnesses. These products require a constant temperature to preserve and increase their life span to keep them long-lasting. This requirement is fulfilled by the medical refrigerators that can store these products at as low as minus 80-degree Celsius. According to the report published by the World Health Organization, a specialized agency of the United Nations responsible for international public health, in 2020, 118.5 million blood donations were obtained globally. In low-income nations, children under the age of five account for up to 54% of all blood transfusions, but in high-income countries, the most frequently transfused patient group is over 60 years old, accounting for up to 75% of all transfusions. Thus, the high demand for biological materials such as blood samples, DNA samples, and vaccines, among others is expected to support the growth of medical refrigerators during the forecast period. Major players in the medical refrigerators market are Thermo Fisher Scientific Inc., Blue Star Limited, Haier Biomedical, Helmer Scientific Inc., Vestfrost Solutions, Zhongke Meiling Cyrogenics Company Limited, Philips Kirsch GmbH, LEC Medical, Panasonic, Froilabo SAS, LabRepCo LLC, Aucma, Standex International Corporation, Godrej Group, Fiochetti, PHC Holdings Corporation, Follett LLC, Labcold, Dulas Ltd., HMG India, Felix Storch Inc., SO-LOW, Indrel, Eppendorf AG, and Migali Scientific. Technological advancements are shaping the medical refrigerator market. Many companies are developing new technologies for medical refrigerators for storing medicines and blood to help the medical industry enhance their storing ability and use products in long run. In February 2021, Godrej Appliances, an India-based home appliance company, launched ultra-low temperature technology freezers. These cutting-edge medical freezers are intended to improve the Indian and international medical cold chains and can maintain life-saving medical supplies, including essential vaccinations, below -80 °C. In June 2020, Dulas a UK-based company that pioneered the innovative use of solar, hydro, wind renewable energy, and cutting-edge health care refrigerators for vaccine storage acquired Polestar for an undisclosed amount. The acquisition aimed to strengthen Dulas’ product portfolios in the refrigeration sector. Polestar is a UK-based industrial and medical refrigeration manufacturing company. North America was the largest region in the medical refrigerators market in 2022. The regions covered in the medical refrigerators market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical refrigerators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The medical refrigerator market consists of sales of freeze dryers, ice lined refrigerator, blood bank refrigerators. Laboratory refrigerators, vaccine refrigerator, AND pharmaceutical refrigerators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The medical refrigerators market research report is one of a series of new reports from The Business Research Company that provides medical refrigerators market statistics, including medical refrigerators industry global market size, regional shares, competitors with a medical refrigerators market share, detailed medical refrigerators market segments, market trends and opportunities, and any further data you may need to thrive in the medical refrigerators industry. This medical refrigerators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart kitchen appliances refer to kitchen appliances connected through IoT (internet of things) technology, bluetooth, Wi-Fi, and other technologies. These smart kitchen appliances are used to make household management easier to operate and eliminate mundane tasks. For enhanced functionality and a more interactive experience, these appliances, like other smart technologies, are integrated with sensor technology, computing power, one or more actuators, and communication capabilities such as Bluetooth or Wi-Fi, advanced user interface, and artificial intelligence (AI) technologies. The main types of smart kitchen appliances include smart refrigerators, smart cookware and cooktops, smart dishwashers, smart ovens, and other appliances. Smart refrigerators refer to refrigerators, which are equipped with features such as a touchscreen interface, the option to connect to the internet through Wi-Fi, internal cameras, flexible user-controlled cooling options and other functions to interact with its features using a smartphone or tablet depending on the smart refrigerator brand. The implementation of IoT & AI functionalities has further improved the user experience. They are sold through direct and indirect sales channels and used by residential and commercial customers. The global smart kitchen appliances market is segmented – 1) By Product: Smart Refrigerators, Smart Cookware and Cooktops, Smart Dishwashers, Smart Ovens, Other Appliances 2) By Sales Channel: Indirect Sales Channel, Direct Sales Channel 3) By Application: Residential, Commercial The global smart kitchen appliances market size grew from $17.79 billion in 2022 to $21.47 billion in 2023 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of smart kitchen appliances is expected to grow to $43.04 billion in 2027 at a CAGR of 19.0%. The increased demand for advanced and intelligent cooking appliances is significantly contributing to the growth of the smart kitchen appliances market. The outbreak of the COVID-19 pandemic and subsequent lockdowns along with increased access to smartphones and wireless services has aided in the growth in demand for smart kitchen appliances. For instance, according to research by security.org, 32% of US households have access to smart home technology and it is expected to grow to 57% by 2025. Estimates also show that 80 million US households or 64% of the participants intend to purchase a new type of smart home device within the next year. Therefore, the increased demand for advanced and intelligent cooking appliances will contribute to the growth of the human smart kitchen appliances market. Major players in the smart kitchen appliances market are Whirlpool Corporation, LG Electronics, Electrolux AB, Samsung Electronics Co. Ltd., Haier Group, AB Electrolux, BSH Home Appliances Corporation, Panasonic Corporation, Breville Group Limited, Miele & Cie. KG, Vita-Mix Corporation, GE Appliances, Xiaomi, SectorQube, and Dacor. Technological advancement is a key trend gaining popularity in the smart kitchen appliances market. Key players operating in the smart kitchen appliances market are focusing on developing innovative kitchen appliances with advanced technological solutions such as machine learning to enhance their existing product portfolio and strengthen their position in the market. For instance, Bosch, a German multinational engineering and technology company, launched Bosch Series 8 accent line sensor oven, a smart Artificial Intelligence-powered oven. With the use of a machine learning system, a neural network helps recognize certain sequences from the data and makes intelligent predictions, including the time required for the baking or cooking process. In February 2022, Crompton Greaves Consumer Electricals Limited, an Indian-based manufacturer of consumer products, acquired Butterfly Gandhimathi Appliances Limited for INR 2,076 million ($27 million). The acquisition was intended to achieve the company’s target to become a pioneer in the kitchen appliances segment with a focus on keeping the cost best in class. Butterfly Gandhimathi Appliances Limited is an Indian manufacturer of kitchen appliances. North America was the largest region in the smart kitchen appliances market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart kitchen appliances market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart kitchen appliances market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The smart kitchen appliances market consists of sales of smart pressure cooker, smart air fryer, smart air fryer oven, smart toaster oven, smart induction cooker, smart dutch oven, smart food processor and smart skillet. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The smart kitchen appliances market research report is one of a series of new reports from The Business Research Company that provides smart kitchen appliances market statistics, including smart kitchen appliances industry, global smart kitchen appliances market size, regional shares, competitors with a smart kitchen appliances market share, detailed smart kitchen appliances market segments, market trends and opportunities, and any further data you may need to thrive in the smart kitchen appliances industry. This smart kitchen appliances market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Food service equipment refers to all tools and equipment such as utensils, crockery, and cutlery used to prepare and cook, store, serve, and wash food and beverage products. These come in multiple modes such as hand-operated, semi-automatic, and fully automatic. These aim to provide the correct quantity of food served at optimal temperature, ensuring higher end-user productivity levels. The main types of equipment in the food service equipment market are food preparation equipment, drink preparation equipment, heating & holding equipment, cooking equipment, refrigerators & chillers, baking equipment, merchandisers, ware washing equipment, and other F&B service equipment. Food preparation equipment refers to equipment used to process numerous foods efficiently. Food preparation equipment includes cooking utensils, food blenders, processors, slicers & peelers, mixers & grinders, and others. Food service equipment is distributed online and offline. Food service equipment is used by full-service restaurants, quick-service restaurants, institutions, and others. The global food service equipment market is segmented - 1) By Equipment: Food Preparation Equipment, Drink Preparation Equipment, Heating And Holding Equipment, Cooking Equipment, Refrigerators And Chillers, Baking Equipment, Merchandisers, Ware Washing Equipment, Other F&B Service Equipment 2) By Distribution Channel: Online, Offline 3) By End-User: Full Service Restaurant, Quick Service Restaurant, Institutional, Other End-Users The global food service equipment market size grew from $34.74 billion in 2022 to $36.8 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The food service equipment market size is expected to grow to $46.29 billion in 2027 at a CAGR of 5.9%. The growing online food service sector is significantly contributing to the growth of the food service equipment market. Online food service is growing due to the convenience offered, accessibility to all, expanding choices, reasonable prices, and others. Specifically, during the COVID-19 pandemic, as people needed to maintain social distancing and follow safety guidelines, customers started online ordering more frequently to reduce physical interaction between the customer and facilitator. This growth of the online food service sector required more food service equipment to be deployed to fulfill the market demand, resulting in a significant demand for food service equipment. For instance, according to a report by one of the big four management consulting firms Deloitte, the online food delivery sector is expected to grow by more than 10% yearly to approximately $25 billion across Europe by 2023. This growth is a result of quicker, more convenient options associated with rising incomes. In addition, according to a report by Google and Boston Consulting Group (BCG), the Indian online food industry is expected to reach $8 billion by the end of 2022, growing at 25-30%. Thus, the growing online foodservice sector will drive the growth of the foodservice equipment market. Major players in the food service equipment market are AB Electrolux, Ali Group Srl a Socio Unico, Dover Corporation, Duke Manufacturing, Haier Group, SMEG SpA, The Middleby Corporation, Illinois Tool Works Inc., Welbilt Inc., Comstock-Castle Stove Co Inc., Cambro Manufacturing Co Inc., Hoshizaki Electric Co Ltd., Fujimak Corporation, Electrolux Professional, Alto-Shaam Inc., Standex International Corporation, The Vollrath Company LLC, ITW Food Equipment Group, Meiko, Tupperware and Hobart Corporation. Technological advancement is a key trend gaining popularity in the food service equipment market. The market is witnessing the implementation of advanced technologies such as automation, virtual control systems, sensory systems, robots, fusion tech machinery, and others to enable more efficient operations of food service equipment. Major companies operating in the foodservice equipment market are focused on providing technologically-advanced equipment to strengthen their market position. For instance, in March 2021, a US-based cooking technologies firm TurboChef Technologies LLC, and Middleby Corporation, a US-based commercial, and residential kitchen equipment company introduced PLEXOR, a next-generation automated ventless oven. It is a multi-technology, flexible cooking platform that allows the automated operation of different oven modules with a single user interface and a single plug. This technology benefits the company by simplifying customers' preferences, optimizing labor, and increasing service speed without compromising product/service quality standards. In December 2021, Ali Group, an Italy-based food service equipment company acquired The Montague Company for an undisclosed amount. This acquisition strengthens the Ali Group as a leader in the global commercial foodservice equipment market and expands the growth opportunities to provide a brand-new dimension to serve the foodservice equipment industry. The Montague Company is a US-based commercial cooking equipment manufacturing company. Asia-Pacific was the largest region in the food service equipment market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the food service equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the food service equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The food service equipment market consists of sales of utensils, pots, pans, bowls, and spoons, large equipment such as range, steamers, boiling pans, and refrigerators, mechanical equipment such as peelers, pin-cers, mixers, refrigerators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The food service equipment market research report is one of a series of new reports from The Business Research Company that provides food service equipment market statistics, including food service equipment industry global market size, regional shares, competitors with a food service equipment market share, detailed food service equipment market segments, market trends and opportunities, and any further data you may need to thrive in the food service equipment industry. This food service equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Smart home devices are defined as devices that are controlled remotely from any internet-connected place in the world using a mobile or any other network device. Smart home appliances are interconnected in such a way that the user has access to control functions such as home security checks, temperature, lighting, and home theater. The technologies used in smart home devices are Wi-Fi technology and Bluetooth technology. The wireless technology that connects computers, tablets, smartphones, and other devices to the internet is known as Wi-Fi technology. Wi-Fi is a radio signal transmitted from a wireless router to a nearby device, which converts the signal into data that can be seen and used.. The smart homes devices are applied in energy management, climate control system, healthcare system, home entertainment system, lighting control system, security & access control system and sold through online, offline channels. The global smart home devices market is segmented - 1) By Technology: Wi-Fi Technology, Bluetooth Technology 2) By Application: Energy Management, Climate Control System, Healthcare System, Home Entertainment System, Lighting Control System, Security & Access Control System 3) By Sales Channel: Online, Offline The global smart home devices market size will grow from $92.48 billion in 2022 to $108.83 billion in 2023 at a compound annual growth rate (CAGR) of 17.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart home devices market is expected to grow to $209.25 billion in 2027 at a CAGR of 17.8%. The rise in the need to save energy and decrease carbon emissions drives the smart home devices market. This increase in the need for sustainable solutions has been initiated by strict government regulations that introduced a cap on maximum carbon emissions allowed for each company. Conventional devices continuously use electricity until someone turns them off. However, in the case of smart home devices, they are equipped with motion sensors that can detect the absence of people in the room for a given time and automatically turn it off, thus saving money and electricity. Saving unnecessary usage of electric devices and decreasing the power demand on the power plants help reduce carbon emissions. For example, according to a study in Europe in 2021, smart building technology can save up to 23% of the energy used in office buildings. Major players in the smart homes devices market are ABB Ltd., General Electric Company, Johnson ControlsInc., Siemens AG, Schneider Electric SE, Honeywell International, LG Electronics, Emerson Electric Corporation, BSH Hausgerate GmbH, and Amazon Inc. High switching costs restrain the smart home device market growth. The cost of smart appliances is high and involves other upfront costs like installation and maintenance costs as well. The high cost obstructs the adoption and acceptance of smart devices by customers including many organizations. According to the survey released by Parks Association in 2021, 44% of the households of 46.7 million household participants stated that smart devices are too expensive. Moreover, a smart thermostat in the USA costs around $250 whereas a traditional thermostat costs around $25. The cost factor influences the market negatively. Companies are developing voice assistants to control smart home devices. Voice assistants are digital assistants that react to voice commands and reply with relevant information. They are different from traditional keyboard-based searches. They put more focus on the conversational phrasing of any content and prioritize the long tail keywords for any search. For example, Amazon and Google have launched their voice assistants in their respective smart speakers. Amazon has launched Alexa Voice Assistant in its Echo smart speaker while Google has launched 'Google Assistant voice assistant for its Google Home smart speaker. Smart home devices are regulated by government bodies such as the National Institute of Standards and Technology (NIST), European Telecommunications Standards Institute (ETSI), and others. The ETSI Cybersecurity Technical Committee (TY Cyber) released ETSI TS 103 645 standards to keep a security baseline for all internet user products. The standard states that the IoT/Smart Home devices must make it easy for consumers to delete their data when there is a transfer of ownership. The standard also requires the implementers to stop using universal default passwords as this gives rise to a large number of security issues. It also allows security researchers to report any kind of security flaw in the IoT/Smart Home devices. In May 2021, Level Home announced the acquisition of Dwelo, a smart home startup for $100 million. With the acquisition of Dwelo, Level Home will be able to offer a seamless of thoughtful hardware with a powerful SaaS platform that gives residents incredible command, convenience, and new abilities. Level Home creates smart home products based in the US, established in 2016. Asia-Pacific was the largest region in the smart home devices market in 2022. The regions covered in the global smart homes devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the smart homes devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The smart home devices market consists of sales of smart dishwashers, smart cookware and cooktops, smart ovens, smart refrigerators, and other smart home devices. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The smart homes devices market research report is one of a series of new reports from The Business Research Company that provides smart homes devices market statistics, including smart homes devices industry global market size, regional shares, competitors with the devices of a smart home market share, detailed smart homes devices market segments, market trends and opportunities, and any further data you may need to thrive in the smart homes devices industry. This smart home devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.