The latest report on Smart Refrigerators Market by Infinium Global Research gives complete coverage of the Smart Refrigerators Market by type (single door refrigerators, double door refrigerators, bottom freezer refrigerator, side by side refrigerators), distribution channel (modern trade, online channels, specialty stores), end-users (residential, commercial) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Smart Refrigerators such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Increasing Demand for the Latest and Advanced Electronic Appliances is the Factor Driving the Smart Refrigerators Industry
Smart Refrigerators are high-tech programmed refrigerators that are able to detect the type of items stored in it and keep track of important details such as expiry and usage. The internet-connected refrigerator can read an RFID system or a barcode, through which it collects the batch and manufacture detail of items placed into it. It is also called as an internet refrigerator. Smart refrigerators are used to indicate when the main door or freezer door is opened for a long time, detect the volume of liquid in bottles, indicate when ice is ready and save energy by sensing temperature during winter. Top 5 smart refrigerators are Samsung Family Hub 2.0, GE Profile PFE28PBLTS, Kenmore Smart 75043, LG InstaView ThinQ, and Whirlpool WRX735SDHZ.
The increasing demand for the latest and advanced electronic appliances is the factor driving the smart refrigerators market. Change in lifestyle is one of the factors boosting the smart refrigerators market. Increasing technological development activities such as integration of wireless technology in the smart refrigerators aid to monitor and operate them by using various smart devices such as smartphones, tablets along with compatible software. These are the factors propelling the smart refrigerators market.
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Wireless Technology Aid to Reduce the Cost of Electricity Required for Controlling and Monitoring the Smart Refrigerators from Remote Locations
Moreover, wireless technology aid to reduce the cost of electricity required for controlling and monitoring the smart refrigerators from remote locations. This is another factor to fuel the smart refrigerators market. Smart refrigerators are costly and expensive to repair. This factor remains a major restraint to the smart refrigerators market. Also, lack of awareness regarding benefits as well as proper utilization of technologies is the factor hampering the smart refrigerators market. Privacy and data protection in an inter-connected world offer favorable challenges for smart refrigerators market.
Geographically, North America is dominant in the smart refrigerators market. Rapid technological advancements and high spending power are driving the smart refrigerators market in North America. Europe holds the second largest market share in the smart refrigerators market. Asia Pacific is expected to grow with the highest CAGR over the forecast period. The growing urban population with high purchasing power is the factor expected to boost the smart refrigerators in Asia Pacific. Moreover, the noticeable rise in the adoption of smart appliances is also expected to propel smart refrigerators market in the Asia Pacific.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Smart Refrigerators.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.