The Shift towards Energy Efficient Appliances Continues to Drive Growth in the Home Appliance Market
There are many reasons attributed to the positive outlook in the home appliance market. Energy efficiency is one of the fundamental reasons behind the trend.
The outlook for the home appliance market looks positive. Relatively better economies across global markets, with growth in the housing sector, including home refurbishments, growth in nuclear families, urbanization, improvement in lifestyle, and more disposable income amongst younger consumers are some of the key economic drivers of growth in the home appliance market.
Growth in adoption of connectivity technology, which has been backed by high adoption of smartphones, tech-savviness amongst consumer of various ages, familiarity with the touch controls mechanism, operating the world of mobile apps, introduction of the new voice-assistant technology, is also considered to be another driver of growth in the home appliance market. Even the fundamental reason for growth in adoption of connected appliances would be owning a relatively smart, intelligent and energy efficient appliance.