Global Smart Refrigerators Market to Expand with Increasing Demand for Packaged Food Items

Published On : 25 Oct 2018

The demand within the global market for smart refrigerators has been escalating on account of the changing lifestyles of the masses. Luxurious living is the catchphrase of the contemporary scenario as people become increasingly accepting of latest home-decor technologies and appliances. It is projected that the global market for smart refrigerators would expand at a stellar rate as the aforementioned trends gain prominence across the world. Smart refrigerators are designed to sense or detect the food contents stored inside them, and can send our precursors before the expiry of food these items. Smart refrigerators use RFID and barcodes to detect the expiry date of food items, and this feature of smart refrigerators is the key reason behind their popularity. Smart refrigerators also endow other key features such as automated detection of faults, open/close warning alarms, and power saving. The electronics industry has been undergoing key changes over the past few years, and this has led to the inflow of commendable revenues into the global market for smart refrigerator. The interest shown by investing entities in the global market for smart refrigerators shall also propel demand within this market. 

This blog by QY Research on the global market for smart refrigerators is a deft analysis of the forces that are projected to overhaul the growth dynamics of the global market. Furthermore, the past trends that have shaped the market into its current form have also been elucidated in the report. 

1. Retail Sector to Emerge as Key Consumer

The propensity of the retail sector to install huge smart refrigerators has played a key role in the growth of the global market over the past decade. The popularity of packaged food has compelled the retail industry to have a robust system for storing food items and retaining their freshness. Since smart refrigerators keep the retail chains aware of the fettle of their products, the demand for these refrigerators in the retail industry is expected to keep rising in the years to come. Furthermore, the corporate social responsibility on the shoulders of retail outlets has also driven them to adopt smart refrigerators in place of conventional refrigerators. 

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2. Residential Use of Smart Refrigerators

The demand for smart refrigerators is also flowing in from domestic longitudes, majorly due to the changing lifestyles of the masses. The busy and hectic schedules of people often leave them with no choice except for consuming packaged foods. Since these customers need to be wary of the freshness or expiry dates of their food, they are resorting to the use of smart adoption that can inform whether a food item is fresh or has run stale. 

Some of the key players in the global market for smart refrigerators are Samsung Electronics Co. Ltd, Panasonic Corporation, Samsung Electronics Co. Ltd, and GE Appliance. 

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