Market Trends of Germany Home Appliances Industry
This section covers the major market trends shaping the Germany Home Appliances Market according to our research experts:
Rising Electricity Costs And Increasing Technological Advancements is Driving the Demand for Energy-Efficient Home Appliances
Consumers in the home are extremely concerned about the rising expense of electricity bills. An extensive quantity of electricity is used by equipment like air conditioners, refrigerators, water heaters, lighting fixtures, as well as home entertainment systems. The homes are turning to energy-saving measures as a result of these higher expenditures. Smart home appliances that can communicate with each other have become an excellent option in such a situation. As a result, households are implementing smart home gadgets to reduce energy expenditures. Wireless communication technology developments would enable remote control of residential equipment.
Growing Popularity Of Smart Home Appliances is Driving the Growth of the Market
The growing popularity of smart home appliances is a major trend in the market. Smart home appliances are devices that are connected to other devices via the internet, and other technologies such as Bluetooth, near-field communication (NFC), and Wi-Fi. The increased popularity of smart appliances can be attributed to the increased demand for smart homes, the rise in internet and smartphone penetration, and energy efficiency initiatives. The rise of the Internet of Things (IoT) technology also supports the development of smart appliances. Smart appliances are generally more energy-efficient than their traditional counterparts.
According to a survey conducted by the German industry group Bitkom, 41% of all Germans had at least one smart home device installed in 2021.
