The consumer electronics and home appliances market in India is expected to grow at a CAGR of 10.08% during the period 2017-2021.
The report, Consumer Electronics and Home Appliances Market in India 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in the market is adoption of smart and advanced features in home appliances. Convenience is most important factors that consumers consider before making a purchase decision. This has resulted in the development of smart products that reduce manual labor. The emerging concept of smart homes has increased the growth of smart home appliances, which can be monitored remotely when connected to the smartphones of consumers.
According to the report, one driver in the market is growth in government initiatives for electronic products. The government of India has allowed 100% Foreign Direct Investment (FDI) in the consumer electronics and home appliances manufacturing sector through the automatic route and 51% of FDI in multi-brand retail. This has become a key attraction for foreign investors. Moreover, the National Policy on Electronics (NPE) that was drafted in 2011 to boost the Electronic System Design & Manufacturing (ESDM) industry plays a vital role in the growth and upscaling of the consumer electronics and home appliances market in India.