Smart Refrigerator Trend Case Study

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The industry realm of technology has proven sustainability in all its facets from business to science. Technology has not only proven it sustainability in the business environment but in society’s main stream individual’s life. Sigel (2010) stated, the estimated global market for smart appliances will increase from $3.06 billion to $15.12 billion (refrigerators $2.69 billion and washers $3.54 billion). The aggregate supply and demand is continuously evolving at a rapid pace. Smart kitchen appliances are designed to afford energy efficiency unlike the traditional one, along with providing comfortability (PR Newswire, 2015).
Smart Refrigerator Trend
Due to consumers desire for convince and better technology, smart home …show more content…

Research and Development (R&D) departments pride themselves in development a product that will satisfy the aggregated supply and demand. Furthermore, anticipating and understanding preferred targeted consumers desire when developing smart refrigerators is an equal important factor. The four segment market (category, energy efficiency, aesthetics, functionality, and technology) should appeal with abridged and applicably. While the consumer is becoming more self-conscious of amount of electricity usage being used in their home, energy efficiency refrigerator will play an intricate part in an individual’s purchasing decision. There may come a time, consumers regardless of their disposal household income may desire and purchase smart refrigerators that will complement their busy lifestyle. However, as history has displayed in the past with innovated technology (smart phones, mobile devices, etc.) the price for smart refrigerators will come down. When prices come down, more smart refrigerator will be as McGarth (2014) stated, one-third (59 %) of homes will have smart refrigerators in

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