Global Smart Refrigerators Market Research Report: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Major players in the smart refrigerators market are Haier, Samsung Electronics, LG Electronics Inc., Panasonic Corporation, Whirlpool, Siemens AG, Midea Group, Hisense Co. Ltd., Electrolux, and GE Appliances. The Global Smart Refrigerators Market is expected decline from USD 2.71 billion in 2019 and to USD 2.65 billion in 2020 at a compound annual growth rate (CAGR) of -2.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 3.87 billion in 2023 at CAGR of 13.5%. The smart refrigerators market consists of sales of smart refrigerators and related services that are used in residential and commercial sectors. A smart refrigerator is a programmed high-tech refrigerator that can identify the type of products stored therein and keep track of important information such as expiry and usage. Such refrigerators operate on a barcode or RFID network whereby the batch is collected and information are generated directly from the Internet. North America was the largest region in the smart refrigerators market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period. The IoT-enabled family hub refrigerator is a key trend in smart refrigerator market. The new Family Hub refrigerator provides features such as testing from anywhere what’s inside the refrigerator, leaving messages on the White Board, seeing who’s at the front door via a connected doorbell, adjusting the thermostat, watching CCTV video, suggestions for recipes, shopping recommendations, etc. Samsung launched its latest Family Hub refrigerator at CES 2018. These new smart fridges are launched with stronger Bixby connectivity and assistance for the SmartThings IoT ecosystem of Samsung. The smart refrigerators market covered in this report is segmented by product into top freezer refrigerator, bottom freezer fridge, side-by-side refrigerator, French door refrigerator and by technology into wi-fi, radio frequency identification (RFID), cellular technology, Bluetooth, zigbee, touchscreen. Smart refrigerators are generally more expensive than ordinary refrigerators. Although, smart refrigerators have high-tech features and can be controlled via smartphones, the high cost is hindering its growth. Additionally, the high repair cost is a key factor hampering the growth of the smart refrigerator market. Consumers might have to invest more on specific parts that are difficult to locate, and there might also be shortage of parts for some models in some cases. This results in using second-hand parts. Popular issues include a non-running refrigerator, or having a freezer portion that does not remain cold. The cost to fix these problems ranges between USD 140 and USD 200 nationally. The more recent issue with smart refrigerators is hacking. Smart refrigerators are not build with security and can’t be protected by antivirus software. Using devices that incorporates hardware, cloud and software designed to safeguard the appliance is an additional expense. Therefore, the high cost with smart refrigerators is expected to limit the growth of the smart refrigerator market. In November 2018, Daikin Industries, Ltd., Japanese manufacturer of commercial air conditioning and refrigeration units acquired AHT Group for 881 million euros. With this acquisition, Daikin adds AHT’s own wide range of products, services and solutions focused on its air-conditioning and cooling equipment, this will allow the company to become a one-stop provider providing full air conditioning and refrigeration products coordination. AHT Group, a leading company in the commercial refrigeration market in Europe. The rise in adoption of smart cities and smart infrastructures is a key factor driving the growth of the smart refrigerator market. The Internet of Things (IoT) market has been growing, with smart home devices and appliances, home is getting smarter with new devices that are available with internet connectivity. Smart home devices such as Google Nest, Ring and smart fridges have held users aware of the Internet of Things (IoT) trend, which relates to the connectivity of everyday items over the Internet. The global number of IoT-connected devices is projected to nearly triple from the 2018 estimates, reaching 43 billion by 2023, according to McKinsey & Co. Therefore, companies are investing more in IoT due growing interest in the smart home and this factor is driving the market for smart refrigerators. For More Information, Click on the Link Below:- Global Smart Refrigerators Market Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: China Smart Refrigerators Market, Europe Smart Refrigerators Market, Global Smart Refrigerators Industry, Global Smart Refrigerators Industry Research Report, Global Smart Refrigerators Market, Global Smart Refrigerators Market Analysis, Global Smart Refrigerators Market Demand, Global Smart Refrigerators Market Forecast, Global Smart Refrigerators Market Growth, Global Smart Refrigerators Market Outlook, Global Smart Refrigerators Market Overview, Global Smart Refrigerators Market Research Report, Global Smart Refrigerators Market Share, Global Smart Refrigerators Market Trends, Haier Smart Refrigerators Market Revenue, India Smart Refrigerators Market, Japan Smart Refrigerators Market, LG Electronics Inc Smart Refrigerators Market Revenue, Panasonic Corporation Smart Refrigerators Market Share, Samsung Electronics Smart Refrigerators Market Share, Smart Refrigerators Market, US Smart Refrigerators Market