MarketResearchNest.com adds “Consumer Electronics And Home Appliances Market In India 2017-2021” new report to its research database. The report spread across 87 pages with table and figures in it.
Research analysts forecast the consumer electronics and home appliances market in India to grow at a CAGR of 10.08% during the period 2017-2021.
“About Consumer Electronics and Home Appliances
Consumer electronics and home appliances are products intended for everyday use at homes. The market is mainly driven by an increase in labor costs and product innovation in terms of technology, performance, design, and capability. The rising average dual-household incomes of consumers is the primary factor that drives the consumer electronics and home appliances market in India. With the recovery from the economic crisis of 2012, consumers have started investing heavily in products like smart consumer electronics and home appliances.
Covered in this report
The report covers the present scenario and the growth prospects of the consumer electronics and home appliances market in India for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Browse full table of contents and data tables at https://www.marketresearchnest.com/consumer-electronics-and-home-appliances-market-in-india-2017-2021.html
Technavio’s report, Consumer Electronics and Home Appliances Market in India 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio recognizes the following companies as the key players in the consumer electronics and home appliances market in India: Electrolux, Haier, LG Electronics, Robert Bosch, SAMSUNG, and Whirlpool.
Other Prominent Vendors in the market are: Arçelik, Fagor America, Hitachi, Hoover Candy Group, iRobot, Koninklijke Philips, Midea Group, Miele & Cie., Panasonic, Sears Brands, SMEG, Sony, TOSHIBA, and Vestel.
Commenting on the report, an analyst from Research team said: “One trend in the market is adoption of smart and advanced features in home appliances. Convenience is most important factors that consumers consider before making a purchase decision. This has resulted in the development of smart products that reduce manual labor. The emerging concept of smart homes has increased the growth of smart home appliances, which can be monitored remotely when connected to the smartphones of consumers.”
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According to the report, one driver in the market is growth in government initiatives for electronic products. The government of India has allowed 100% Foreign Direct Investment (FDI) in the consumer electronics and home appliances manufacturing sector through the automatic route and 51% of FDI in multi-brand retail. This has become a key attraction for foreign investors. Moreover, the National Policy on Electronics (NPE) that was drafted in 2011 to boost the Electronic System Design & Manufacturing (ESDM) industry plays a vital role in the growth and upscaling of the consumer electronics and home appliances market in India.
Further, the report states that one challenge in the market is data security issues associated with smart consumer electronics and home appliances. With the increasing emphasis on smart consumer electronics and home appliances, the concerns over security and privacy are increasing. A lack of user interface and automatic interaction between the connected devices in the IoT is often invisible to users. Hence, this creates the possibility of utility companies or third-party energy management service providers to collect information that reveals private and personal data under the guise of energy-efficiency management.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Mr. Jeet Jain