Major players
The leader of the home appliances market in India is Whirlpool of India Limited, which had a revenue of nearly 60 billion Indian rupees in financial year 2022. Other foreign brands like LG, and Samsung also performed very well in this market. India’s domestic brands like Bajaj, Crompton, and Blue Star were also popular in various segments. With a relatively low penetration level, growing national economy, and increasing household income, the home appliances segment has great potential despite the impact of the coronavirus pandemic.Smart homes
With the decreasing cost of data and hardware, and fast expansion of internet connection, smart devices saw increasing popularity in the Indian home appliances market. As in most scenarios, smartphones act as the control hub for all the smart appliances in a home. With the help of an increasing penetration rate of smartphones, India is now among the top countries in terms of the ownership rate of small and big smart appliances. With the further development of new smart technologies, smart home appliances are becoming more integrated into everyday life. Features like Wi-Fi connection, voice control and virtual assistant have become more and more common in new products on the market. And the increasing competition in this segment is driving innovation and bringing better and cheaper products to the market.
