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Smart Refrigerator Market Trends

Report ID: GMI4129
Published Date: Sep 2024
Report Format: PDF

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Smart Refrigerator Market Trends

One prominent trend is the increasing use of artificial intelligence (AI) and machine learning in smart refrigerators. These technologies enable features like predictive maintenance, personalized food recommendations, and automated inventory management, making refrigerators more user-friendly. Additionally, improvements in voice control and smart home compatibility are boosting connectivity, allowing seamless integration with other smart devices for a more convenient user experience. According to the Association of Home Appliance Manufacturers (AHAM), the adoption of AI in home appliances has grown by 25% over the past year, validating this trend.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

In 2023, the global smart refrigerator industry was valued at USD 3.4 billion and is expected to register a compound annual growth rate (CAGR) of 11.9% between 2024 and 2032, driven by technological advancements, IoT integration, and increasing demand for convenience and energy efficiency.

The freestanding smart refrigerator led the market in 2023, generating over USD 2.9 billion in revenue. This segments popularity is due to its versatility, easy installation, and advanced features such as touchscreen controls and smart connectivity.

The freestanding smart refrigerator segment is projected to reach USD 7.6 billion by 2032, maintaining its leadership position thanks to its adaptability, innovative features, and design flexibility.

North America emerged as the dominant region in 2023, generating USD 1.1 billion in revenue. The regions high adoption of technology, strong purchasing power, and emphasis on innovation contributed to this leadership.

Key players in the market include Samsung Electronics, LG Electronics, Whirlpool Corporation, GE Appliances, Bosch Home Appliances, and Panasonic Corporation, among others.