Global Smart Refrigerator Market is valued USD 2.80 Billion in 2019 and is projected is to exhibit 13.4% CAGR during the forecast period. The market is projected to be around USD 6.75 Billion by 2026. The market is driven by the technological advancements in the consumer electronics industry.

Smart refrigerators that have been programmed to sense what kinds of products are being stored inside. Also, it keeps a track of the stock through barcode or RFID scanning. Smart refrigerators features are touchscreen interface and the ability to connect to the internet through Wi-Fi to provide several additional features. Smart refrigerators have more flexible user-controlled cooling options and internal cameras. Also, you can interact with its features using your smartphone or tablet when away from home.
Smart Refrigerator Market Dynamics
The factors that increase the growth of the smart refrigerator market are such as the increase in demand for technological advancements in the consumer electronics industry vertical, growing urban population followed by the rise in disposable incomes. Developing smart home establishments, increasing penetration of intelligent appliances, and consumer awareness are propelling the smart refrigerator market globally.

Moreover, another factor expected to fuel the market growth is wireless technology aid to reduce the cost of electricity required for controlling and monitoring the smart refrigerators from remote locations. At the same time, high installation and maintenance costs hamper the market growth. Furthermore, an increase in the adoption of smart cities and smart infrastructures and growth in investments in R&D related to IoT provides huge opportunities for the growth of the smart refrigerator market.
Smart Refrigerator Market Insight
Based on the region, in North America, the market is mature. Customers in North America and Europe are changing toward intelligent home appliances to decrease power consumption, and gain benefits from internet connectivity features. Smart refrigerators are gaining high market demand due to smartphone connectivity options that allow operations from distant locations. Furthermore, the smart refrigerator market in the Asia-Pacific expected to witness maximum potential during the forecast period. Growing personal disposable coupled with the increasing purchasing power of people in the region is supposed to expand the growth of the market during the forecast period.
Smart Refrigerator Market Segmentation
The global Smart Refrigerator Market is segmented into type, application, and region. On the basis of the type the market is divided into French doors, triple doors, double doors, single doors, side by side doors. Based on technology the market is segmented into office, hotel, residential, others. Based on technology the market is segmented into WIFI, touchscreen, RFID, Bluetooth connectivity, cellular technology. Based on prices the market is segmented into high, mid, low. Based on application the market is segmented into residential, commercial. And based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
Smart Refrigerator Market Competitive Landscape
The key players in Smart Refrigerator Market are listed as Haier, Samsung Electronics, LG Electronics Inc., Panasonic Corporation, AB Electrolux, Whirlpool, Siemens AG, Bosch Group, Liebherr Group, Frigidaire, and Midea Group, and Other.