Insights on Household Appliance Market within the Household Durables Sector | Product Innovation and Portfolio Extension to Emerge as a Key Driver | Technavio
LONDON--(BUSINESS WIRE)--Oct 13, 2020--
The global household appliance market is expected to grow at a CAGR of almost 1% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.
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Technavio has announced its latest market research report titled Global Household Appliance Market 2020-2024 (Graphic: Business Wire)
Growing competition in the market and advances in technology have changed the demand and preferences of consumers. This has compelled home appliance manufacturers to increase their R&D efforts and widen their portfolio with innovative products. For instance, Samsung Electronics offers 26 cu. ft. French door refrigerator with internal filtered water. The refrigerator is equipped with a high-quality and high-efficiency LED, twin cooling system, and a beautiful sleek and roomy design that can fit into any kitchen décor. The introduction of such innovative products is fueling the growth of the global household appliance market.
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Within its scope, the household durables market covers manufacturers/marketers of consumer electronics, home furnishings and decorative products, household appliances, homebuilding, and homeware and specialties products. Our report on the household appliance market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including Electrolux, Haier Group, LG Electronics, Robert Bosch, Samsung Electronics, and Whirlpool Corp.
Technavio’s research report on the household appliance market identifies the key drivers, trends, challenges, and the market scenario over the forecast period. The report also analyzes the impact of these factors on the overall household durables market.
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Household Appliance Market: Segmentation Analysis
The global household appliance market has been analyzed across various segments to identify market dynamics, developments, and key growth areas during the forecast period. The report also offers insights on high growth regions and opportunities for vendors operating in each sub-segment of the household appliance market. The market is segmented as follows:
- Major household appliance
- Small household appliance
- Specialty stores
- Convenience stores
- Department stores
- North America (NA)
- South America (SA)
- Middle East & Africa (MEA)
- Asia Pacific (APAC)
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Technavio’s industry coverage utilizes various sources and tools to gather information about multiple stakeholders and their offerings toward the household appliance market. Sources such as company websites, annual reports, whitepapers, subscription & in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the household appliance market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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INDUSTRY KEYWORD: RETAIL LUXURY CONSUMER ELECTRONICS TECHNOLOGY HOME GOODS SPECIALTY
SOURCE: Technavio Research
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PUB: 10/13/2020 10:30 AM/DISC: 10/13/2020 10:31 AM