PUBLISHER: The Business Research Company | PRODUCT CODE: 1852385
PUBLISHER: The Business Research Company | PRODUCT CODE: 1852385
Digital twin retail refrigeration is a virtual model of a physical refrigeration system used in retail environments. It replicates the system's real-time performance, operations, and interactions with the environment, allowing continuous monitoring and analysis. This digital replica aids in forecasting performance, enhancing efficiency, and detecting maintenance needs before problems occur.
The core elements of digital twin retail refrigeration include software, hardware, and services. Software comprises programs, instructions, and data that guide devices in performing specific functions. Refrigeration systems such as display cases, walk-in coolers, and freezers utilize technologies such as the Internet of Things (IoT), artificial intelligence (AI), machine learning, and data analytics. These solutions are implemented across applications such as supermarkets, hypermarkets, convenience stores, and specialty stores, serving end users in sectors such as food and beverage, retail chains, and pharmaceuticals.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the retail and wholesale sector, particularly in sourcing, inventory management, and pricing strategies. Higher duties on imported consumer goods including electronics, apparel, furniture, and packaged foods have raised procurement costs for retailers and wholesalers, compelling many to either increase prices for end consumers or absorb losses. Small and mid-sized businesses with limited pricing power are especially vulnerable, often facing squeezed margins and reduced competitiveness. Inventory cycles are also disrupted as firms grapple with delays and uncertainty in international supply chains. Additionally, retaliatory tariffs in foreign markets have curtailed export opportunities for U.S. brands, limiting revenue growth. In response, companies are shifting toward domestic and regional suppliers, investing in supply chain resilience, and adopting data-driven demand forecasting to navigate cost volatility and maintain customer satisfaction.
The digital twin retail refrigeration market research report is one of a series of new reports from The Business Research Company that provides digital twin retail refrigeration market statistics, including digital twin retail refrigeration industry global market size, regional shares, competitors with a digital twin retail refrigeration market share, detailed digital twin retail refrigeration market segments, market trends and opportunities, and any further data you may need to thrive in the digital twin retail refrigeration industry. This digital twin retail refrigeration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The digital twin retail refrigeration market size has grown exponentially in recent years. It will grow from $1.31 billion in 2024 to $1.60 billion in 2025 at a compound annual growth rate (CAGR) of 21.7%. The growth during the past period was driven by higher consumer expectations for product freshness, the expanding presence of retail and supermarket chains, increasing regulatory focus on energy efficiency and sustainability, the rising adoption of remote management for refrigeration units, and growing demand for reducing food waste.
The digital twin retail refrigeration market size is expected to see exponential growth in the next few years. It will grow to $3.46 billion in 2029 at a compound annual growth rate (CAGR) of 21.3%. Future growth is expected to be driven by the wider adoption of IoT-enabled refrigeration systems, rising demand for energy-efficient retail cooling, increased focus on predictive maintenance in retail chains, growing need for real-time monitoring and analytics, and greater use of cloud-based digital twin solutions. Key trends include progress in predictive maintenance, technology-enabled remote monitoring, innovations in energy optimization and sustainability, advancements in edge computing, and improvements in supply chain integration and forecasting.
The adoption of IoT is accelerating, driving significant advancements in digital twin retail refrigeration. By connecting physical devices to the internet, IoT enables the collection, sharing, and utilization of data to improve efficiency and functionality. Real-time monitoring and automation are key benefits, allowing businesses to optimize processes and prevent issues before they occur. For example, in November 2022, Ericsson reported that broadband IoT (4G/5G) accounted for 1.3 billion connections worldwide, with projections suggesting that nearly 60% of cellular IoT connections will be broadband by 2028, predominantly via 4G. Northeast Asia currently leads in cellular IoT adoption, expected to exceed 2 billion connections by 2023. Such growth in IoT usage is directly contributing to the expansion of the digital twin retail refrigeration market.
Digital transformation is playing a pivotal role in modernizing businesses and enhancing the digital twin retail refrigeration sector. By embedding digital technologies into operations, companies can improve efficiency, streamline processes, and deliver superior customer experiences. The integration of AI, cloud computing, and analytics enables real-time monitoring of refrigeration systems, predictive maintenance, and energy optimization, all of which reduce downtime and operational costs. A 2023 analysis by the UK's Central Digital and Data Office revealed that digital transformation initiatives could yield over $1.17 billion in savings, while a digital remuneration framework could save an additional $122.12 million annually by 2025. These trends highlight how digitalization is boosting the capabilities and adoption of digital twin solutions in retail refrigeration.
In October 2024, Haier Smart Home Co. Ltd., a China-based manufacturer, acquired Carrier Commercial Refrigeration from Carrier Global Corporation for $775 million. This strategic acquisition strengthens Haier's presence in the food retail refrigeration and cold storage markets while enhancing its commercial refrigeration platform. Carrier Commercial Refrigeration, a US-based company, provides digital twin solutions for retail refrigeration, and the acquisition allows Haier to leverage these technologies for further market expansion.
Major players in the digital twin retail refrigeration market are Samsung Electronics, Robert Bosch GmbH, Schneider Electric SE, Haier, Daikin Industries Ltd., Johnson Controls, Danfoss A/S, Siemens Digital Industries Software, Hussmann Corp., BITZER Kuhlmaschinenbau GmbH, Carel Industries S.p.A., Star Refrigeration Limited, Guntner Gmbh & Co, Zero Zone Refrigerator Manufacturing Co., Gamma Technologies, Axiom Cloud Inc., Modelon AB, Delta T Systems Inc., Enex Technologies S.r.l., GEA Heating & Refrigeration Technologies, JETCOOL Technologies Inc., and MCP Consulting Group.
North America was the largest region in the digital twin retail refrigeration market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in digital twin retail refrigeration report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the digital twin retail refrigeration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The digital twin retail refrigeration market consists of revenues earned by entities by providing services such as predictive maintenance, energy management, remote monitoring, system optimization, and fault detection. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital twin retail refrigeration market also includes sales of sensors, controllers, and edge devices. Values in this market are 'factory gate' values; that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Digital Twin Retail Refrigeration Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on digital twin retail refrigeration market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for digital twin retail refrigeration ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The digital twin retail refrigeration market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.