Smart Refrigerators Statistics By Usage, Product Type and Application

Introduction

Smart Refrigerators Statistics: In today’s rapidly-evolving world, technology is advancing at an unprecedented rate, with smart devices becoming increasingly popular. One area that is currently gaining momentum is the development of smart refrigerators. Millions of people are investing in this industry, particularly in North America and Europe, where people are more inclined towards implementing smart devices in their homes for internet connectivity and to reduce power consumption.

Smart refrigerators incorporate energy control technology and advanced sensors that require less electricity usage, making them more environmentally friendly. If you are still unfamiliar with this smart device, the following Smart Refrigerators Statistics will help you better understand the different segments of smart refrigerators.

What is a Smart Refrigerator?

Smart refrigerators are a modern alternative to traditional refrigerators. They are equipped with advanced technological features such as flexible cooling control options, internal cameras, and sensors. Smart refrigerators can connect to the internet and can be controlled through smartphones and tablets.

Some of the impressive features of smart refrigerators include built-in Wi-Fi, a hot water dispenser, a calendar organizer, music player, internet access, and an ice maker.

Benefits of Smart Refrigerator

• Smart refrigerators enable users to monitor and control electricity usage, aiding in better food preservation.
• They help users track their food inventory, reducing waste, and offer features like connectivity with smart assistants.
• Notifications are sent via connected apps if any issues arise within the refrigerator.
• Additional features include Wi-Fi connectivity, a digital whiteboard, a calendar, and tracking product expiry dates.

Editor’s Choice

• As of 2023, the market share of smart refrigerators is predicted to be $3.5 billion.
• Whereas, the market is going to reach above $4.09 billion at a CAGR of 3.14% from 2023 to 2028.
• According to research published by Global Market Insights, it has observed that smart refrigerators offer connectivity with many other smart technologies such as smart speakers, and smart engines.
• By the end of 2026, the Smart Refrigerator market size is expected to reach above $7.5 billion at a CAGR of 12% from 2019 to 2026.
• On the other hand, the shipment unit of this industry is going to reach above 2 million by 2026.
• Leading companies in the smart refrigerators market include Haier, Samsung Electronics, LG Electronics, Panasonic Corporation, AB Electrolux, Whirlpool, Siemens AG, Bosch Group, and others.
• According to a report by Mordor Intelligence, the global market is projected to reach a valuation of $3.5 billion.
• North America leads the market, accounting for approximately 32% of the share in 2023.

(Source: mordorintelligence.com)

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Facts About Smart Refrigerator

• Smart refrigerators if compared with ordinary fridges are generally more expensive.
• They have high and advanced technical features that are easily controllable through Smartphones.
• In case of any damage, the repairing cost is higher and in the United States, it is around $140 to $200, which varies in different countries. This is the key reason that hampering the overall market growth.
• Smart refrigerators are segmented into door types single, double, side-by-side, and French.
• On the other hand, by market is segmented by products are Top Freezer refrigerators, Bottom Freezer Fridges, Side-by-side refrigerators, and French Door refrigerators.
• The market is segmented by technology are Wi-Fi, Cellular Technology, Radio Frequency Identification, ZigBee, Bluetooth, and Touchscreen.

(Source: technavio.com)

• A report on the global market published that, the North American region has experienced the highest share with an estimated 32% share in 2023.
• The important factors that are driving the industry’s market growth are the adoption of IoT-enabled devices and new product launches.
• According to research taken from IoT analytics, around the world total number of connected IoT devices has grown by 9% resulting in 12.3 billion active endpoints, and 27 billion connections by 2025.

About Smart Appliances

• Smart appliances are connected devices like washing machines and refrigerators that help reduce energy and water use.
• These appliances are part of the Internet of Things network, allowing them to connect via WiFi or mobile connections.
• In 2023, the global market for smart appliances was valued at over USD 53 billion, marking a 20% increase from the previous year.
• China is the leading market for these products, generating more than USD 16.5 billion in revenue in 2023, more than any other country including the United States.
• The smart washing machines segment is one of the largest within the smart appliance market, expected to reach over USD 10 billion in the coming years.
• Around 7% of households globally had a smart appliance in 2023, a number expected to almost triple in the next five years.
• Countries like India, China, and South Africa have higher ownership rates of smart appliances compared to European nations such as France, Germany, and the UK.
• Despite growing numbers of users, the average revenue generated per user from smart appliances has been declining since 2021 and is expected to continue falling. This decrease in revenue per user occurs as prices drop and more people start using smart appliances.

Smart Refrigerator Market Size Forecast

11 Years Analysis of smart refrigerator market share

(Source: marketresearch.biz)

• The above graph describes the market size of smart refrigerators by their distribution channels such as offline and online stores from 2022 to 2032.
• As of the report, the market size of smart refrigerators by distribution channel in 2023 is going to be $2.6 billion.
• Furthermore, the market size in coming years is followed by 2024 ($2.8 billion), 2025 ($3.2 billion), 2026 ($3.7 billion), 2027 ($4.1 billion), 2028 ($4.3 billion), 2029 ($4.9 billion), 2030 ($5.3 billion), 2031 ($6 billion), and 2032 ($6.8 billion).
• As of 2022, the smart refrigerator is segmented into two categories end-user residential and commercial. The total market size resulted in around $2.3 billion with a CAGR of 11.7% from 2022 to 2032.

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Smart Refrigerator Statistics

(Source: statista.com)

• According to the reports published by Statista Research Department, the global market value of the industry is going to be $5.23 billion in the year 2023 which has increased from last year.
• The fastest and largest regions of this market in 2023 are Asia Pacific and North America respectively.
• Sensors used in Smart refrigerators are proximity sensors, temperature sensors, and gas sensors.
• According to Industry Research, the market size of smart refrigerators is going to grow at a CAGR of 17% by the end of 2027.

By Segmentation Analysis

• As of 2023 according to Industry Research, the top three manufacturers of smart refrigerators are Whirlpool, Samsung, and Haier holding a market share of 30%.
• The largest use of smart fridges is French door refrigerators with a share of 45% and used highly in commercial appliances followed by home appliances.
• Whereas, China is going to have the largest market share of over 55%, which is followed by the North American region (25%), and Europe (25%).

By Product Type

(Source: alliedmarketresearch.com)

• The overall market based on 4 different types of refrigerators are single, double, side-by-side, and French.
• According to Allied Market Research in 2022, the French door segment was dominating the market with a share of 28.6%.

(Source: mordorintelligence.com)

• As of 2023, the largest market share is captured by the French door segment and is expected to gain a higher position in the coming years.
• French door smart refrigerator provides effective controlling of food storage, enables the convenience of smart technology as well as proper kitchen organization.
• As of the above graph, the compound annual growth rate of the market size is going to be 5.50% from 2023 to 2028.
• Whereas, the fastest and largest growing markets are Asia Pacific and North America respectively in 2023.

By Application Analysis

By Type Analysis

(Source: verifiedmarketreports.com)

Smart Refrigerator Market Size Comparison By Statista

• The smart refrigerator market is currently worth about USD 5.23 billion.
• Experts agree this market will grow quickly, by double digits, in the next few years.
• Some predictions show a lower future value, but the overall expectation is for strong growth.

Future Statistics

(Source: gminsights.com)

• As the graph described above states, the market size of smart refrigerators will expand in the Asia Pacific region by 2026.
• The consumption of such appliances will be higher in China, followed by South Korea, Japan, and India.

Use of IoT in a Smart Refrigerator

(Source: intuz.com)

• The Internet of Things allows for monitoring food expiration, enables timely notifications, improves inventory control, and reduces food wastage.
• Inventory management is another benefit, by which users can control and manage the connected fridge from a distance. This helps in getting alerts in case of any worries.
• Provides effective connectivity through Amazon and Alexa integration, which allows an option of ordering directly from the refrigerator automatically when needed.
• Other sensors help in identifying early-stage gas leakage within and outside the appliance so that users can take safety measures against the damage as soon as possible.

Best Smart Refrigerator Statistics

(Source: thespruce.com)

• Large smart refrigerator: LG Smart InstaView Door-in-Door Refrigerator with craft ice maker, which is a 3-door smart fridge with total capacity (29.7 cubic feet), height (68.875 inches), depth (36.625 inches).
• The benefits include lots of storage, connecting the LRFVS3006S to Wi-Fi, and allowing app control.
• The price is around $4,399 (at Abt.com)

(Source: thespruce.com)

• Best for beverages: Bosch 800 Series B36CL81ENG (French door bottom mount refrigerator)
• Smart features can be controlled via mobile app and compatible with systems such as Amazon Alexa, Google Assistant through Fitbits, and Amazon Alexa.
• It includes total capacity (28.5 cubic feet), height (72 inches), and depth (28 inches).
• The price is around $4,799 (at Lowe’s).

(Source: thespruce.com)

• Best counter-depth: Frigidaire gallery GRMC2273BF (French door refrigerator)
• The smart features are controllable via the Frigidaire 2.0 app, exclusive crisper technology, flexible storage, and an organization system.
• Total capacity (21.5 cubic feet), height (70.2 inches), depth (24.6 inches) with 9 inches handle and door.
• The price is around $3,499 (at Amazon)

(Source: thespruce.com)

• Best feature: GE Profile Smart 4-Door French Door Refrigerator
• Features are adjustable light settings via the SmartHQ app via Smartphone, a built-in Wi-Fi facility, and adjustable modes of turbo freeze and turbo cool.
• Total capacity (27.9 cubic feet), height (70 inches), and depth (36.75 inches)
• The price is around $4,199 (at Amazon).

(Source: thespruce.com)

• Best overall: LG Smart InstaView Door-in-Door Refrigerator.
• These fridges are controllable through apps and voice commands via Amazon Alexa and Google assistance. This helps in diagnosing along with reporting potential concerns from any place.
• Total capacity (27.8 cubic feet), height (68.375 inches), and depth (36.25 inches).
• The price is almost $3,699 (at Amazon).

Conclusion

Today, after completing the article, this sophisticated smart device can be used in homes, enabling many practical features. The overall market is gaining massive popularity worldwide, but the largest share is currently captured in the Asia Pacific region. This device allows users to monitor, connect, and control via Smartphones, apps, or voice assistance, saving money, energy, and time effectively.

If you have been using this smart device, you must try it once. This article includes possible statistics from recent years, and I hope all the above information will help you gain a deeper understanding of the topic.