Connected Refrigeration Systems Market: Introduction

  • Internet of Things (IoT) is a computing concept, which turns devices into smart systems by a connecting it with internet. IoT connected machines include machine-to-machine (M2M) and industrial communication technologies with automation applications. IoT connected machines help better understand the production process and enhance production efficiency of connected refrigeration systems.
  • IoT connected machines, a basic pillar of digital manufacturing, connect all the industrial assets with machines and control systems. Connected Refrigeration systems are similar type of IoT-enabled system that are used in multiple industries such as fruit and vegetable processing, chemicals, pharmaceuticals, and refrigerated transportation.
  • Sensors and connected devices gather a large amount of data for the smart connected refrigeration systems which is fed to analytics solutions in order to analyze and automate the processing
  • Rapidly changing demand from consumers has fueled the need for connected refrigeration systems manufacturing.

Increase in Use of Connected Refrigeration Systems in Fast Moving Consumer Goods (FMCG) Industry

  • Increase in consumption of processed and packaged food has been observed as it requires lesser time to cook and majority of the population prefers fast food. This, in turn, increases the use of connected refrigeration systems in FMCG industry. Rise in trend of upgrading cold storage infrastructure across food-related industry verticals is expected to boost the connected refrigeration systems market
  • Connected refrigeration systems are used in hotels, malls, and other places where storage of food is crucial
  • Transportation of various non-veg food products such as, eggs, meat, and fish requires connected refrigeration systems, which, in turn, drives the market

Significant Drop in Sensor Prices Drives Connected Refrigeration Systems Market

  • IoT solutions and likewise, connected refrigeration systems cannot be implemented without the help of sensors. This has increased the demand for sensors. Many connected systems rely on multiple sensors to monitor data. According to a report published by BI Intelligence in 2014, cost of these sensors was declined by 50%. Also, a study conducted by Ericsson on ‘Internet of Things’ in collaboration with DI Digital reveals that the cost of sensors in 2014 with respect to 1996 dropped by 95%.
  • Decrease in cost of sensors is set to act as a driving factor for the connected refrigeration systems market as the requirement of sensors in manufacturing processes increases every day.
connected refrigeration systems market

To understand how our report can bring difference to your business strategy, Ask for a brochure

North America Expected to Hold Major Share of Global Connected Refrigeration Systems Market

  • In terms of region, the global connected refrigeration systems market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
  • North America is expected to account for major share of the global connected refrigeration systems market during the forecast period, due to advancements in technology and introduction of Internet of things (IoT) applications with enhanced customer experience in the region
  • Europe and North America are expected to hold significant shares of the global connected refrigeration systems market from 2019 to 2027. However, the markets in Asia Pacific and Middle East & Africa are expected to expand at a significant rate during the forecast period.

Global Connected Refrigeration Systems Market: Competitive Landscape   

connected refrigeration systems market 01

Stuck in a neck-to-neck competition with other brands? Request a custom report

Key Players Operating in Global Connected Refrigeration Systems Market

  • Alfa Laval
  • Baltimore Aircoil Company, Inc.
  • Bitzer Kuhlmaschinenbau GmbH
  • Emerson Electric Co.
  • Evapco, Inc.
  • GEA Group AG
  • Güntner GmbH & Co. Kg
  • Ingersoll-Rand PLC
  • Johnson Controls International PLC
  • Lennox International Inc.
  • Lu-Ve Group
  • Mayekawa Mfg. Co. Ltd.
  • The Danfoss Group
  • United Technologies Corporation

Global Connected Refrigeration Systems Market: Research Scope

Global Connected Refrigeration Systems Market, by Component

  • Compressor
  • Condenser
  • Evaporator
  • Controls
  • Others (Vessel, Pumps, Valves, etc.)

Global Connected Refrigeration Systems Market, by Refrigerant Type

  • Ammonia
  • Carbon dioxide
  • Hydro fluorocarbons (HFC)
  • Others

Global Connected Refrigeration Systems Market, by Industry

  • Food & Beverage
  • Pharmaceutical
  • Petrochemical
  • Data Centers
  • Others
connected refrigeration systems market 02

Global Connected Refrigeration Systems Market, by Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • U.K.
    • France
    • Russia
    • Italy
    • Spain
    • Nordics
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Connected Refrigeration Systems Market

Pre Book