Consumer Electronics and Home Appliances Market in India Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers |Technavio

Vendor Landscape The market structure is expected to remain fragmented during the forecast period. Vendors

Vendor Landscape

The market structure is expected to remain fragmented during the forecast period. Vendors operating in the market are adopting various marketing and growth strategies such as competitive pricing to compete in the market.

AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., Koninklijke Philips NV, LG Electronics Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Corp., Toshiba Corp., and Whirlpool Corp. are some of the few key vendors of this market. Vendors are competing to maintain their market position in the market. To succeed in this market, vendors must focus on providing consumer electronics and home appliances market in India at competitive prices.

Vendors are also trying to expand their market presence and strengthen their product portfolio by entering partnerships and launching new and innovative products.

For instance- In March 2021, Hitachi Ltd. introduced its wide range of products such as elevators, including the world’s fastest elevator and escalators at Global Lift and Escalator Expo 2021 Virtual (GLE Expo 2021 Virtual) held online by Virgo Communications and Exhibitions Pvt Ltd.

View more about the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

  • Segmentation by Product: 
    • Consumer Electronics: 
      • The segment contributed greatly to the overall market growth in 2020.
      • Consumer electronics was the largest segment of the market in 2020 and will continue to remain as the largest segment of the market in 2025. 
  • Segmentation by Style:
    • Freestanding:
      • In terms of style, the Freestanding style segment generated maximum revenue in the market in 2020.
      • Freestanding styles are expected to account for the maximum number of sales in the market over the forecast period.

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Revenue Generating Segment

The consumer electronics and home appliances market share growth in India by the consumer electronics segment will be significant during the forecast period. With the increasing number of high-net-worth individuals (HNWIs), the demand for luxury consumer electronics and home appliances is growing in the developing economies and fueling the market growth. 

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Latest Drivers and Trends Driving the consumer electronics and home appliances market in India

  • Consumer electronics and home appliances market in India Driver:
    • Increasing demand for premium appliances:

The increasing demand for premium appliances is one of the primary factors that will fuel the growth of the consumer electronics and home appliances market in India during the next few years. The growing importance of consumer electronics and home appliances is encouraging the demand for unique and premium consumer electronics. Premium appliances are equipped with smart features that match the societal status of upper-class households.

  • Consumer electronics and home appliances market in India Trend:
    • Adoption of smart and advanced features in home appliances:

To provide increased convenience, vendors are integrating smart features that will influence the consumers’ buying decisions. These smart connected products reduce manual labor and can be controlled and operated through smartphones. Smart devices are being integrated with the IoT technology that integrates digital and wireless technology and will enable consumers to connect their household appliances using their smartphones and the Internet and conveniently operate, monitor, them from any location. 

Find additional information about various other market drivers & Trends mentioned in our FREE sample report.

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Consumer Electronics And Home Appliances Market In India Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1.30%

Market growth 2021-2025

USD 2.12 billion

Market structure

Fragmented

YoY growth (%)

1.09

Performing market contribution

India at 100%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., Koninklijke Philips NV, LG Electronics Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Corp., Toshiba Corp., and Whirlpool Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization preview

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