Market Overview:
The global internet-connected refrigerators market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for smart appliances and rising awareness about energy efficiency among consumers. In terms of type, the single-door refrigerator segment is expected to lead the global internet-connected refrigerators market during the forecast period, followed by two-door refrigerator and closet segments. In terms of application, household segment is expected to lead the global internet-connected refrigerators market during the forecast period, followed by commercial and industrial segments.
Product Definition:
A refrigerator with internet connection refers to a fridge that is connected to the internet. This allows users to control and monitor their refrigerators from afar, whether through a computer or smartphone. Importantly, many of these fridges come equipped with sensors that track things like how much food is left in the fridge and when it expires, so that users can be alerted when they need to restock. Additionally, some models have integrated cameras which allow users to see what's inside their fridge without having to open it.
Single-door Refrigerator:
Single door refrigerators are also known as 1-door or 2-door refrigerator. It is a type of residential refrigerator which has one cooling mechanism and stores the food and beverages in the primary chamber. The term “single door” is used because there is only one main opening to the interior of this equipment, unlike a double door where there are two separate doors for fresh and ice/coolant access.
Two-door Refrigerator:
The two-door refrigerator is a small-sized portable refrigerator that has two doors and is designed to fit in compact spaces. It usually occupies the space of one large door, with the smaller freezers on either side. The product can be used for storing fresh food as well as frozen products simultaneously.
It offers more storage space than conventional single door refrigerators and also helps in saving countertop space due to its smaller size.
Application Insights:
The household segment held the largest share of over 60.0% in 2017. The growth can be attributed to the increasing adoption of smart devices, which provide access to the internet and mobile applications for remote monitoring and control. Furthermore, growing concerns regarding family safety are driving consumers towards internet-connected refrigerators as an intruder alert system that provides security surveillance video clips from multiple cameras installed at once is a part of it. Moreover, these appliances also enable users to block access by specific individuals thereby providing complete privacy protection against snoopers or peeping Toms while keeping an eye on children sleeping in rooms remotely through its web interface.
The commercial segment is expected to expand at a CAGR exceeding 11% from 2018 to 2030 owing to rising demand for cold storage solutions across various industries including food processing and distribution centers among others where temperature management is crucial for maintaining product quality throughout storage periods as well as during transportation & delivery operations with utmost efficiency.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to increasing internet penetration and rising demand for connected appliances in emerging countries, such as China and India. Moreover, growing trend of nuclear families coupled with small & compact houses in these countries will drive the product demand further.
North America accounted for a significant share of global revenue owing to early adoption of internet-enabled refrigerators by consumers in this region. However, slow growth rate observed in U.S., which is mainly due to high prices associated with these products may affect overall industry growth over the next few years; however, rapid increase in smart homes along with growing IoT technology will boost sales eventually leading to higher revenue share by 2030 time frame). Europe also contributed significantly towards industry expansion on account of high disposable income among consumers coupled with technological advancements across several manufacturers operating within this region (for instance LG Electronics Inc.).
Growth Factors:
- Increased demand for smart appliances in the home
- Proliferation of internet-connected devices and the "Internet of Things" (IoT)
- Growing demand for energy-efficient appliances
- Advances in refrigeration technology
- Rising consumer interest in food safety and health
Scope Of The Report
Report Attributes
Report Details
Report Title
Internet-connected Refrigerators Market Research Report
By Type
Single-door Refrigerator, Two-door Refrigerator, Closet, Others
By Application
Household, Commercial, Industrial, Others
By Companies
LG, Samsung, Whirlpool, Electrolux, LG
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
210
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Internet-connected Refrigerators Market Report Segments:
The global Internet-connected Refrigerators market is segmented on the basis of:
Types
Single-door Refrigerator, Two-door Refrigerator, Closet, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Commercial, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- LG
- Samsung
- Whirlpool
- Electrolux
- LG
Highlights of The Internet-connected Refrigerators Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single-door Refrigerator
- Two-door Refrigerator
- Closet
- Others
- By Application:
- Household
- Commercial
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Internet-connected Refrigerators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Internet-connected refrigerators are refrigerators that can be accessed remotely through the internet. This allows users to manage their food storage and refrigerator usage from a remote location.
Some of the major companies in the internet-connected refrigerators market are LG, Samsung, Whirlpool, Electrolux, LG.
The internet-connected refrigerators market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Internet-connected Refrigerators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Internet-connected Refrigerators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Internet-connected Refrigerators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Internet-connected Refrigerators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Internet-connected Refrigerators Market Size & Forecast, 2020-2028
4.5.1 Internet-connected Refrigerators Market Size and Y-o-Y Growth
4.5.2 Internet-connected Refrigerators Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single-door Refrigerator
5.2.2 Two-door Refrigerator
5.2.3 Closet
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Household
6.2.2 Commercial
6.2.3 Industrial
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Internet-connected Refrigerators Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Internet-connected Refrigerators Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single-door Refrigerator
9.6.2 Two-door Refrigerator
9.6.3 Closet
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Household
9.10.2 Commercial
9.10.3 Industrial
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single-door Refrigerator
10.6.2 Two-door Refrigerator
10.6.3 Closet
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Household
10.10.2 Commercial
10.10.3 Industrial
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single-door Refrigerator
11.6.2 Two-door Refrigerator
11.6.3 Closet
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Household
11.10.2 Commercial
11.10.3 Industrial
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single-door Refrigerator
12.6.2 Two-door Refrigerator
12.6.3 Closet
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Household
12.10.2 Commercial
12.10.3 Industrial
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single-door Refrigerator
13.6.2 Two-door Refrigerator
13.6.3 Closet
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Household
13.10.2 Commercial
13.10.3 Industrial
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Internet-connected Refrigerators Market: Competitive Dashboard
14.2 Global Internet-connected Refrigerators Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 LG
14.3.2 Samsung
14.3.3 Whirlpool
14.3.4 Electrolux
14.3.5 LG
