雅虎香港財經 Smart refrigerator market to grow by USD 3,513.88 million from 2022 to 2027|32% of market growth will originate from North America - Technavio
NEW YORK, July 28, 2023 /PRNewswire/ -- The smart refrigerator market size is expected to grow by USD 3,513.88 million from 2022 to 2027. The market will progress at a CAGR of 15.1% as per the latest Technavio market research report. North America will account for 32% of the market's overall growth. The regional market growth can be attributed to factors such as the presence of a large urban population, the increasing number of nuclear families, the high spending power of consumers, rapid technological advances, and the integration of smart home appliances. Moreover, consumers in the region shift to intelligent home appliances to reduce power consumption and gain benefits. Additionally, the launch of new products with technological advances as well as regional expansion by established refrigerator manufacturers have created various opportunities for market growth. Hence, such factors boost the growth of the smart refrigerator market in North America during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES
Smart Refrigerator Market: Increasing demand from developing countries to drive growth
The increasing demand from developing countries drives the growth of the smart refrigerator market.
Various consumer appliances, such as smart refrigerators, experience demand due to the rapid urbanization and the development of smart cities.
Furthermore, the rising household income and the rise in the demand for high-quality products and experiences fuel the demand for advanced household appliances.
Hence, such factors boost the growth of the smart refrigerator market during the forecast period.
Smart Refrigerator Market: Rapid technological advancements to be a major trend
Rapid technological advancements are an emerging smart refrigerator market trend.
The growth of innovation and technological advances have resulted in changes in consumer preferences, which propels the demand for innovative products.
Furthermore, consumers are looking for eco-friendly appliances with a user-friendly interface that can perform tasks with minimum energy consumption, and thus, vendors work on technological innovations to sustain themselves in the competitive market environment.
Additionally, consumers increasingly spend on premium kitchen appliances, such as smart refrigerators, with their rising purchasing power, which encourages vendors to invest in advanced technologies and incorporate AI-operated voice control, touchscreen user interfaces, customizable freezing products, and digital connectivity.
Hence, technological advancements in smart refrigerators are expected to support the growth of the global smart refrigerator market during the forecast period.
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Some of the key Smart Refrigerator Market Players:
The smart refrigerator market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
AB Electrolux, General Electric Co., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Hitachi Ltd., Lenovo Group Ltd., LG Electronics Inc., MIDEA Group, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, Smeg S.p.a., THOR Kitchen Inc., Toshiba Corp., and Whirlpool Corp.
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Smart Refrigerator Market: Segmentation Analysis
This smart refrigerator market report extensively covers market segmentation by distribution channel (offline and online), end-user (residential and commercial), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The offline segment will be significant for market growth during the forecast period. Consumer behavior can be attributed to this segment growth because most consumers prefer purchasing smart refrigerators at physical stores instead of online portals. Furthermore, retail stores provide consumers to physically verify a product before purchasing, which eliminates the need to pay shipping charges. Additionally, consumers can consult sales representatives for details about certain products. Hence, such factors boost the offline segment growth in the smart refrigerator market during the forecast period.
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Smart Refrigerator Market Scope | |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 15.1% |
Market growth 2023-2027 | USD 3,513.88 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 14.62 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution | North America at 32% |
Key countries | US, China, Japan, Germany, and UK |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | AB Electrolux, General Electric Co., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Hitachi Ltd., Lenovo Group Ltd., LG Electronics Inc., MIDEA Group, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, Smeg S.p.a., THOR Kitchen Inc., Toshiba Corp., and Whirlpool Corp. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global smart refrigerator market 2017 - 2021
4.2 Distribution Channel Segment Analysis 2017 - 2021
4.3 End-user Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Distribution Channel
6.1 Market segments
6.2 Comparison by Distribution Channel
6.3 Offline - Market size and forecast 2022-2027
6.4 Online - Market size and forecast 2022-2027
6.5 Market opportunity by Distribution Channel
7 Market Segmentation by End-user
7.1 Market segments
7.2 Comparison by End-user
7.3 Residential - Market size and forecast 2022-2027
7.4 Commercial - Market size and forecast 2022-2027
7.5 Market opportunity by End-user
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 APAC - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 Germany - Market size and forecast 2022-2027
9.11 UK - Market size and forecast 2022-2027
9.12 Japan - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 AB Electrolux
12.4 General Electric Co.
12.5 Haier Smart Home Co. Ltd.
12.6 Hisense International Co. Ltd.
12.7 Hitachi Ltd.
12.8 Lenovo Group Ltd.
12.9 LG Electronics Inc.
12.10 MIDEA Group
12.11 Panasonic Holdings Corp.
12.12 Robert Bosch GmbH
12.13 Samsung Electronics Co. Ltd.
12.14 Siemens AG
12.15 Smeg S.p.a.
12.16 Toshiba Corp.
12.17 Whirlpool Corp.
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
About Technavio
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