Press release
Good Growth Opportunities in Global Home Appliances Market Till 2025
Consumers have evolved and rapidly adopted new technology products to streamline their day to day activity. The higher adoption of smartphones, growing usage of IOT devices created new opportunity across various sectors including industry automation, smart home and smart city. Devices like smartphone, intelligent speakers and connected devices reinforced to evolve new home appliances market, where most of the home appliances are connected to internet to automate their activities with less human intervention. It had been observed that home appliances market is expected to witness a substantial growth over the forecast period due to the increasing disposable income of individuals in many developing countries. The increasing demand for air conditioners, washing machines and refrigerators are helping consumers in improving their living standards and also there is increase in number of households across the globe.
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Due to technological advancement in many electronic appliances, consumers have started using efficient devices and adopting technologies to improve their household. These home appliances are more energy-efficient than their traditional home appliances for household purpose. This shift towards energy and water efficient appliances by consumers is also creating opportunities for home appliances market
Many prominent players in the home appliances market are investing in R&D to develop innovative home appliances that will propel the growth of the home appliances market
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Home Appliances Market: Market Dynamics
Increased purchasing power and better access to quality products with affordable price are the driving factors in the home appliances market. Advanced internet connection and new ways of sales channel are expected to drive the global home appliances market.
Safety issues and increased power consumption is expected to hamper the growth of home appliances market.
Adoption of smart home systems is expected to create opportunities for home appliances market, in the coming years.
Global Home Appliances Market: Competition Landscape
Few prominent players in Home Appliances market include Haier Electronics Group Co., Ltd., Electrolux AB, Samsung Electronics Co., Ltd., LG Electronics, BSH Home Appliances Corporation, Haier Electronics Group Co., Ltd., Panasonic Corporation, Middleby Corporation, Hitachi Appliances, Inc., GE Appliances, Fujitsu Corporation, Siemens Home Appliances and Crompton Greaves Global.com.
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