United States comes at 3rd while comparing globally in stands of revenue after China (being on top) and India (being on second). Covid affect the Washing Machine Market globally and in the US, in US volume growth of washing machine surges negative to –3.6%. Due to restrictions over production, workplace, etc the production closed and many places its halts due to non-availability of workers.
With growing Urbanization in the world economy, mostly in developed country there is an increasing demand for automated and smart devices. This growth will be fuelled by organisations innovating constantly to meet the ever-evolving needs of consumers. Most consumers today are adopting information centric buying and refer to an average of 3 touchpoints for gathering information before actual purchase. They are looking for product-based solutions that fit into the overall home ecosystem and are open to technology like connected appliances and products that satisfy the increasing convenience and comfort needs. The overarching goal of being able to care for both family and environment also influences appliance buying decisions. The growth and innovation spurts that most middle-income economies witnessed at the per capita income of USD 66080.
Key Market Trends
IoT is considered to be one of the key technologies enabling and driving the digital transformation, as the ability of devices to sense and transmit data through networks and connectivity is creating extensive amounts of data that help companies achieve considerable benefits but would be impossible for humans to handle.
Internet of Things (IoT) refers to everyday physical devices that are connected to and interconnected with the Internet. These ‘things’ are embedded with electronics, sensors, software, actuators and network connectivity allowing them to collect, send and receive data and to connect and interact with other devices. This collection and exchange of data enables the optimisation of processes, monitoring of environments and performing of computations or mathematical calculations.
In the United States if we categorised by age, people below age 35 (35% refer online purchase, 5% OEM stores, 45% Offline stores and rest 15% search for other ways), whereas age between 35 – 54 (20%, 2%, 58% and 20%) and people aging more than 55 years (10%, 2%, 58% and 30%). There is a huge demand for online purchase from the age group of below 35 years being pandemic the sole reason.
This consumer durables white good market has huge market competition. Companies across world have huge investment in this segment of market. In US the washing machine market have few companies concentrated over major shares .
Adoption of smart home and upgradation to smart washing machine leads to increasing competition amongst the company. Innovation and technological advancement taking a pace as the COVID and urbanization strike general people to adoption of the new smart devices.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.2 Scope of the Study
2.2 Research Phases
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Market Opportunities
4.6 Recent Development In Markets
4.7 Porter's Five Force Model
4.8 Technology Snapshot
4.9 Consumer Behaviour Analysis
4.10 Government Regulation In Market
4.11 Impact of COVID-19 on the Market
5.1.1 Top Load
5.1.2 Front Load
5.2 By Technology
5.3 By Distribution Channel
5.3.1 Multibrand Stores
5.3.2 Exclusive Stores
5.3.3 Online Stores
5.3.4 Other Distribution Channels
5.4 By End Users
6.2 Company Profiles
6.2.3 General Electric Co.
A selection of companies mentioned in this report includes:
- General Electric Co.