Smart Refrigerator Market size is set to grow by USD 6.72 billion from 2024-2028

The global smart refrigerator market size is estimated to grow by USD 6.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 22%  during the forecast period. New product launches is driving market growth, with a trend towards growing adoption of iot-enabled devices. However, cyber-attacks due to security issues related to internet connectivity  poses a challenge.

The Intelligent Digital Network (IDN) revolution in home appliances enables smart refrigerators to connect and be controlled online. Samsung's launch of a 4-door French refrigerator with AI family hub in April 2024 is a significant development. This innovative product offers features like remote refrigerator monitoring, messaging, doorbell identification, thermostat adjustment, CCTV access, and recipe suggestions. These advanced functionalities are driving the expansion of the global smart refrigerator market.

The smart refrigerator market is experiencing significant growth with advanced technologies such as voice recognition, touch screens, and connectivity. Tech-savvy consumers are increasingly preferring these modern appliances for their convenience and efficiency. Refrigerators with tech features like temperature control, food expiration alerts, and compatibility with smart home systems are trending. Brands are focusing on improving user experience and integrating these features seamlessly. The market is expected to continue growing as technology advances and consumer demand increases. Smart refrigerators offer a combination of functionality and innovation, making them a must-have in modern kitchens.

The smart refrigerator market faces challenges due to vulnerabilities in device security. With increasing IoT integration, refrigerators and other household appliances become targets for cyber-attacks. Weak security parameters and connectivity with other devices pose risks to consumer data. Vendors are addressing these concerns by enhancing software and IoT features. However, the rush to launch new products may result in inadequate security measures, creating opportunities for hackers to exploit personal information or launch larger-scale attacks. This security issue may hinder market growth during the forecast period.