White Goods Market: Industry Trends and outlook

Increase in development of several advanced technology-based such as artificial intelligence, IoT etc. by the leading players may create massive opportunity for the growth of this market

Launch of advanced technology such as AI and IoT-based equipment for home appliances by the leading players may create a massive opportunity for this market's growth. Also, increasing demand for AI-based refrigeration systems has propelled the white goods market growth. For instance, on 14th January 2020, Axiom Exergy received more than one million dollars for the Axiom Cloud, a software platform that uses artificial intelligence to solve some of the largest energy and maintenance problems that grocery chains face. The Company provided AI-based to customers, including Arcticom, Whole Foods Market, Clima-Tech and other North American supermarket chains and maintenance providers. Further, on 9th March 2020, Elanpro launched IoT-enabled connected refrigerators and AI vending machines. The company entered into a strategic alliance agreement with Vendek in, with Pune-based vending eco-system startup.

Also, in April 2019, Godrej Appliances launched its unique lifestyle product, QUBE that has an advanced solid-state electronic cooling green technology built. With the launch of this product, the company becomes the first brand that has launched this revolutionary technology.

Market Opportunities 

Growing demand for the launching of several advanced technology based such as artificial intelligence, IoT etc. by the leading players may create a huge opportunity for the growth of this market.

For instance, in February 2019, Samsung launched the first signage products featuring the unmatched picture quality of QLED 8K at the Integrated Systems Europe (ISE) 2019 in Amsterdam. This would be beneficial for the company as it is the latest technologically upgraded digital signage would attract businesses as it has highest resolution with Artificial Intelligence (AI) upscaling technology.

Also, in January 2019, Mitsubishi Electric Corporation developed an autonomous platform that will enable networked smart appliances to utilize their sensors without using internet connection or cloud computing. The development enables all the appliances to collaborate with each other.

manufacturers of consumer appliances are coming up with eco-friendly products. Products that consume low energy, enhanced safety standards, and IoT-connected devices are becoming popular in the market. This becomes a good opportunity as these products are environment friendly and well accepted in the market.

Connectivity with smart phones and other devices offers greater opportunities for customer acquisition and retention. The appliance itself provides information about its correct installation or efficient usage. 

In addition, even difficult maintenance becomes much easier; required replacement parts can be delivered much faster. This not only benefits the customer, but also manufacturers. Each purchase, use or repair of a household appliance generates important data, helping manufacturers better understand their customers, provide higher quality services and more targeted products. 

DTH players are expected to get the largest share in the phase IV area of the digitization market. Digitization may lead to complete switchover from analogue cable to Digital Addressable Systems in a phased manner. Active DTH subscribers with private operators in India increased from 62.65 million in December 2016 to 70.49 million in December 2018.

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