Consumer electronics and home appliances market in India to grow by USD 2.3 billion from 2022 to 2027 | Growth in government initiatives for electronic products to boost the market growth - Technavio

NEW YORK, July 24, 2023 /PRNewswire/ -- The consumer electronics and home appliances market in India size is set to grow by USD 2.3 billion between 2022 and 2027, and register a CAGR of 1.31%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read Sample Report

The report also covers the following areas:

• Consumer Electronics and Home Appliances Market in India size
• Consumer Electronics and Home Appliances Market in India trends
• Consumer Electronics and Home Appliances Market in India industry analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Arcelik A.S., Bajaj Electricals Ltd., General Electric Co., Haier Smart Home Co. Ltd., Hitachi Ltd., Irobot Corp., Koninklijke Philips NV, LG Electronics Inc., Midea Group Co. Ltd., Miele and Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., Transform Holdco LLC, Usha International Ltd., Whirlpool Corp., AB Electrolux, and ENERGIA APPLIANCES PVT. LTD. are some of the major market participants.

Consumer Electronics and Home Appliances Market in India 2023-2027: Segmentation

The consumer electronics and home appliance market in India is segmented as follows:

• Product 
• Consumer Electronics
• Home Appliances
• Distribution Channel
• Offline
• Online
• The market share growth by the consumer electronics segment will be significant during the forecast period. Consumer electronics include TVs, smartphones, tablets, computers, audio devices, and others. Increasing Internet penetration also plays a major role in the growth of consumer electronics, including smartphones and tablets. With increasing access to online retail channels, consumers have a wide variety of choices to select from. With the spread of IoT technology, sales of various consumer electronics are expected to increase in India which will boost the market growth during the forecast period.

Detail Insights on the impact of each segment and make informed business decisions, request a sample report!

Consumer Electronics and Home Appliances Market in India 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the consumer electronics and home appliances market in India include Arcelik A.S., Bajaj Electricals Ltd., General Electric Co., Haier Smart Home Co. Ltd., Hitachi Ltd., Irobot Corp., Koninklijke Philips NV, LG Electronics Inc., Midea Group Co. Ltd., Miele and Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., Transform Holdco LLC, Usha International Ltd., Whirlpool Corp., AB Electrolux, and ENERGIA APPLIANCES PVT. LTD.. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market.

• Arcelik A.S.: The company offers a wide range of home appliances such as refrigerators, washing machines, microwaves, and dishwashers
• General Electric Co.: The company offers an air fryer toaster oven inbuilt with zero preheat technology which is designed for baking and cooking food such as pizza, cookies, bake and bagel in less amount of time
• Haier Smart Home Co. Ltd.: The company offers 1.6-ton 5-star intelli smart inverter split AC in built with a frost self-clean feature, which traps all the dust present on the coil to wash out, thus designed to get clean and healthy air.

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Consumer Electronics and Home Appliances Market in India 2023-2027: Market Dynamics 

Key Driver - 

• Growth in government initiatives for electronic products is a key factor driving the growth of the consumer electronics and home appliances market in India. 
• The Government of India has approved 51% of foreign direct investment in multi-brand retail and 100% in the manufacturing sector of consumer electronics and home appliances through an automated route. Foreign investors are now prioritizing this as a draw.
• The National Policy on Electronics (NPE), created in 2011 to support the Electronic Systems Design and Manufacturing (ESDM) sector, is also essential for the growth and scaling of the consumer electronics and home appliance markets in India.
• Moreover, by electrifying 99.9% of Indian households, the Indian government achieved a remarkable step toward achieving the Sustainable Development Goal.
• This is expected to increase the demand for consumer electronics and home appliances, which will boost the growth of the consumer electronics and home appliances market in India during the forecast period.

Leading Trend - 

• The adoption of smart and advanced features in home appliances is one of the key trends in the consumer electronics and home appliances market in India.
• In India, there is a rising market for smart homes due to the majority of domestic and culinary tasks are now managed, observed, and carried out digitally through the Internet.
• Consumers' increasing dependence on smartphones has increased their acceptance of smart home appliances as smartphones act as remote controls for these devices.
• Rising electricity prices and growing consumer desire for energy efficiency are expected to increase the penetration of smart appliances in India, which will drive the growth of the market during the forecast period.

Significant Challenge - 

• Data security issues associated with smart consumer electronics and home appliances are one of the major challenges for the consumer electronics and home appliances market in India.
• Security and privacy concerns are rising as the importance of smart appliances and consumer electronics increases.
• Users are often unaware that the Internet of Things (IoT) has no user interface or automated communication between connected devices. 
• According to reports, a bug in the Mi Home app, which is used to control Xiaomi smart home appliances, allowed hackers to remotely control smart devices and potentially access personal user data.
• These incidents require designers of intelligent consumer electronics and home appliances to take necessary security measures. 
• Thus, the growth of the market under consideration is anticipated to be impeded by this data security issue during the forecast period.

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Consumer Electronics and Home Appliances Market in India 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist the consumer electronics and home appliances market in India growth during the next five years
• Estimation of the consumer electronics and home appliances market in India size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the consumer electronics and home appliances market in India
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the consumer electronics and home appliances market vendors in India

Related Reports:

The consumer electronics market is estimated to grow at a CAGR of 4.85% between 2022 and 2027. The size of the market is forecast to increase by USD 110.31 billion. Furthermore, this report extensively covers market segmentation by application (personal and professional), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and the Middle East and Africa).  Frequent product launches and innovations are notably driving the market growth during the forecast period.

The personal consumer electronics market size is estimated to grow at a CAGR of 5.04% between 2022 and 2027. The market size is forecast to increase by USD 92.66 billion. Furthermore, this personal consumer electronics market report extensively covers market segmentation by product type (smartphones, tablets laptops and notebooks, portable devices, digital cameras, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The frequent product launches are driving growth in the personal consumer electronics market during the forecast period.

Table Of Contents 

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Consumer electronics and home appliances market in India 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on consumer electronics and home appliances market in India 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 25: Chart on Product - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 27: Chart on Comparison by Product
• Exhibit 28: Data Table on Comparison by Product

• 6.3 Consumer electronics - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Consumer electronics - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Consumer electronics - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Consumer electronics - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Consumer electronics - Year-over-year growth 2022-2027 (%)

• 6.4 Home appliances - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Home appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Home appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Home appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Home appliances - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 37: Market opportunity by Product ($ billion)
• Exhibit 38: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 39: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 40: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 41: Chart on Comparison by Distribution Channel
• Exhibit 42: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 43: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 45: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 46: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 51: Market opportunity by Distribution Channel ($ billion)
• Exhibit 52: Data Table on Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 53: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 54: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 55: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 56: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 57: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 58: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 59: Matrix on vendor position and classification

• 11.3 AB Electrolux
• Exhibit 60: AB Electrolux - Overview
• Exhibit 61: AB Electrolux - Business segments
• Exhibit 62: AB Electrolux - Key offerings
• Exhibit 63: AB Electrolux - Segment focus

• 11.4 Arcelik A.S.
• Exhibit 64: Arcelik A.S. - Overview
• Exhibit 65: Arcelik A.S. - Product / Service
• Exhibit 66: Arcelik A.S. - Key offerings

• 11.5 ENERGIA APPLIANCES PVT. LTD. 
• Exhibit 67: ENERGIA APPLIANCES PVT. LTD. - Overview
• Exhibit 68: ENERGIA APPLIANCES PVT. LTD. - Product / Service
• Exhibit 69: ENERGIA APPLIANCES PVT. LTD. - Key offerings

• 11.6 General Electric Co.
• Exhibit 70: General Electric Co. - Overview
• Exhibit 71: General Electric Co. - Business segments
• Exhibit 72: General Electric Co. - Key news
• Exhibit 73: General Electric Co. - Key offerings
• Exhibit 74: General Electric Co. - Segment focus

• 11.7 Haier Smart Home Co. Ltd. 
• Exhibit 75: Haier Smart Home Co. Ltd. - Overview
• Exhibit 76: Haier Smart Home Co. Ltd. - Business segments
• Exhibit 77: Haier Smart Home Co. Ltd. - Key offerings
• Exhibit 78: Haier Smart Home Co. Ltd. - Segment focus

• 11.8 Hitachi Ltd.
• Exhibit 79: Hitachi Ltd. - Overview
• Exhibit 80: Hitachi Ltd. - Business segments
• Exhibit 81: Hitachi Ltd. - Key news
• Exhibit 82: Hitachi Ltd. - Key offerings
• Exhibit 83: Hitachi Ltd. - Segment focus

• 11.9 Irobot Corp.
• Exhibit 84: Irobot Corp. - Overview
• Exhibit 85: Irobot Corp. - Product / Service
• Exhibit 86: Irobot Corp. - Key offerings

• 11.10 Koninklijke Philips NV 
• Exhibit 87: Koninklijke Philips NV - Overview
• Exhibit 88: Koninklijke Philips NV - Business segments
• Exhibit 89: Koninklijke Philips NV - Key news
• Exhibit 90: Koninklijke Philips NV - Key offerings
• Exhibit 91: Koninklijke Philips NV - Segment focus

• 11.11 LG Electronics Inc.
• Exhibit 92: LG Electronics Inc. - Overview
• Exhibit 93: LG Electronics Inc. - Product / Service
• Exhibit 94: LG Electronics Inc. - Key offerings

• 11.12 Midea Group Co. Ltd.
• Exhibit 95: Midea Group Co. Ltd. - Overview
• Exhibit 96: Midea Group Co. Ltd. - Product / Service
• Exhibit 97: Midea Group Co. Ltd. - Key offerings

• 11.13 Miele and Cie. KG
• Exhibit 98: Miele and Cie. KG - Overview
• Exhibit 99: Miele and Cie. KG - Product / Service
• Exhibit 100: Miele and Cie. KG - Key offerings

• 11.14 Panasonic Holdings Corp. 
• Exhibit 101: Panasonic Holdings Corp. - Overview
• Exhibit 102: Panasonic Holdings Corp. - Business segments
• Exhibit 103: Panasonic Holdings Corp. - Key news
• Exhibit 104: Panasonic Holdings Corp. - Key offerings
• Exhibit 105: Panasonic Holdings Corp. - Segment focus

• 11.15 Robert Bosch GmbH
• Exhibit 106: Robert Bosch GmbH - Overview
• Exhibit 107: Robert Bosch GmbH - Business segments
• Exhibit 108: Robert Bosch GmbH - Key news
• Exhibit 109: Robert Bosch GmbH - Key offerings
• Exhibit 110: Robert Bosch GmbH - Segment focus

• 11.16 Samsung Electronics Co. Ltd. 
• Exhibit 111: Samsung Electronics Co. Ltd. - Overview
• Exhibit 112: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 113: Samsung Electronics Co. Ltd. - Key news
• Exhibit 114: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 115: Samsung Electronics Co. Ltd. - Segment focus

• 11.17 Sony Group Corp.
• Exhibit 116: Sony Group Corp. - Overview
• Exhibit 117: Sony Group Corp. - Business segments
• Exhibit 118: Sony Group Corp. - Key news
• Exhibit 119: Sony Group Corp. - Key offerings
• Exhibit 120: Sony Group Corp. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 121: Inclusions checklist
• Exhibit 122: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 123: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 124: Research methodology
• Exhibit 125: Validation techniques employed for market sizing
• Exhibit 126: Information sources

• 12.5 List of abbreviations 
• Exhibit 127: List of abbreviations

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