Electric Home Appliances Market Growth Industry Review and Forecasts from 2017 to 2024

The globally renowned Stockholm-based electric home appliances market giant, Electrolux, has recently revealed its plans to take over Anova, the developer of the Anova Precision Cooker – an exemplary connected device designed for sous vide cooking. Through this acquisition, Electrolux aims to strengthen its already formidable position in electric household appliances industry. Concurrently, it is prudent to mention that the Anova Precision cooker is likely to acquire mass prominence through this deal, all over the American belt. Vice-versa, the alliance forges a strong corporate bond between the electric household appliances market player and Anova, - while the latter will use Electrolux’s brand name for popularizing the sous vide in America, the former would be able to leverage Anova’s direct-to-consumer business model and digital technology for its own product manufacturing. The ultimate repercussions of this mutual deal are certain to be depicted in electric household appliances industry share, which, as per analysts, is projected to surpass USD 600 billion by 2024.

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With increasing consumer disposable incomes subject to the overall robust economy growth, it has been observed that the purchase parity of customers has surged to quite an extent, leading to a dynamic upswing in living standards. Furthermore, the prevalence of hectic schedules and a sedentary lifestyle has only served to escalate the dependency on quick-functioning household devices, which has ultimately led to a surge in electric household appliances market share.

Adopting technologically advanced products has also become the norm for the modern-day consumer, pertaining to the ease of operational ability and time-effectiveness. This has also paved the way for electric household appliances industry players to join forces with tech giants to explore the untapped product potential and to develop a range of innovatively designed home products. An instance testifying the infallibility of the aforementioned statement is LG’s noteworthy penetration in the connected era.

At the onset of this year, representatives of LG Electronics, Inc., the renowned South Korean electric household appliances industry giant declared that every one of the company’s home appliances will henceforth be equipped with advanced internet connectivity. The integration of LG’s premium home appliances with Amazon's Alexa is an apt demonstration of the same.

In addition, at the LG InnoFest 2017, the electric household appliances market giant unveiled its connected, OS-enabled Smart Instaview refrigerator that uses stickers to warn users about spoiled food, light failure, etc. The company also revealed the Hub Robot, a home assistant that has been designed to make washing machines or vacuum cleaners function without any glitches.

Browse key industry insights spread across 164 pages with 98 market data tables & 19 figures & charts from the report, ‘’ Electric Household Appliances Market Size By Product (Refrigerators & Freezers, Washers & Dryers, Dishwashers, Air Conditioners, Cooking Appliances), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Switzerland, Poland, Ukraine, Belarus, Russia, China, Japan, India, South Korea, Taiwan, Malaysia, Indonesia, Thailand, Singapore, Australia, Brazil, Mexico, Argentina, Chile, Saudi Arabia, UAE, Qatar, Egypt, Nigeria, South Africa, Kenya, Israel), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024’’in detail along with the table of contents:

https://www.fractovia.org/news/industry-research-report/electric-home-appliances-market

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