Market Trends of Australia Home Appliances Industry
Increasing Smart Appliances Penetration is Driving the Market
Manufactures are giving greater importance to dynamic changes that are occurring in the consumer's preferences. Innovation in product development, adoption of the latest technology, such as the Internet of Things (IoT) and Artificial intelligence (AI), are driving the market. The smart homes concept, increasing popularity for digital connectivity of all the appliances, and AI and IoT functionalities on appliances connected through the internet are key elements that the customers are looking forward to. Diminishing levels water reserves across the world are shaping the market for washing machines with low water utilization.
E-commerce Platforms are Driving the Market
There is a great scope for an increase in online-based sales of home appliances. The growth of the e-commerce sector is expected to be supported by rising internet penetration and smartphone use. This increase in E-commerce can drive the electronics sales such as home appliances and other domestic appliances. The rising urbanization and modernization are further driving the growth of e-commerce.
