Freezers Market: IoT Enabled Consumer Electronics a Fruitful Trend

A fresh business intelligence study by Transparency Market Research (TMR) notifies that the vendors connected to the value chain of the global freezers market are finding vast new opportunities on the back of expanding urban population across the world. However, the competitive landscape is largely conserved within a small pool of well-established players who dominate via their brand name and technological expertise.

The report identifies ThermoFisher Scientific, Whirlpool Corporation, Daihan Scientific, Liebherr Group, AB Electrolux, Haier Group Corporation, Hitachi Ltd., LG Electronics, Siemens Home Appliances, Brandt Electric, Beverage-Air Corporation, Hengel Industries, and Panasonic Corporation as some of the prominent players currently ahead of the curve in the global freezers market.

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The TMR report has projected the demand in the global freezers market to increment at a CAGR of 5.0% during the forecast period of 2017 to 2025. Revenue-wise, the analysts of the report have estimated that the opportunities in the freezers market, across the world, will translate into US$18,300.6 mn by 2025, considerably more than its evaluated valuation of US$12,350.8 mn in 2017.

In terms of volume, the demand for freezers across the globe is projected to expand at a CAGR of 6.5% during the aforementioned forecast period. Going forward, the vendors of this market are expected to transform their products in a way to utilize solar energy as well as devise products that are IoT enabled, which is currently a trend across all consumer electronics.

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Based on product type, the report segments the freezers market into chest freezer, upright freezer, and others, whereas on the basis of door type, the market has been bifurcated into 1 door, 2 door, 3 door, and 4 door.  Application-wise, the report gauges the potential of demand for freezers coming from the sectors of commercial, residential, and industrial. Geographically, Asia Pacific has been highlighted as the most profitable region, promising to provide for a demand worth of US$6,456.7 mn by 2025.