The global consumer electronics and home appliances market is expected to grow at a CAGR of 7.5% during the forecast period (2022-2028). Samsung Electronics announced 2022 sustainability initiatives that will accelerate the development of eco-conscious home appliances. With these measures, Samsung is working against environmental issues through innovative products and services that can be used in everyday life. In a newly announced collaboration, Samsung is coming together with American clothing company Patagonia. As unveiled at CES 2022, this collaboration will promote environmental sustainability by addressing the issue of microplastics and its impact on the ocean environment. Patagonia CPO Vincent Stanley shared thoughts during Samsung’s keynote speech on the significance of this collaboration and the direction it will take, calling it an example of how companies can “support turn the tide of climate change and restore nature to health.
Television has become a family companion for everyone these days. Most of the people spend in front of smart TVs that can be connected to mobiles for streaming the videos and share favorite pictures. Smart TVs come with different technologies (OLED, QLED, UHD) putting up high-resolution displays. Home refrigerators are being used to preserve food and safeguard health. Fridge (refrigerator) cools the temperature inside it by sending the internal heat to the outside ambient environment. The major cause for maintaining the lower temperature is to reduce the multiplying rate of bacteria.
Domestic refrigerators comes in different types such as solar refrigerators, compressor refrigerators, and Peltier refrigerators, among others. Patagonia is well-known for its commitment to innovative materials that lessen harm to the planet. The clothing company continues to support Samsung in multiple ways, including product testing, sharing its research and facilitating an introduction to the NGO Ocean Wise. Samsung has been researching features designed to support overcome the negative impacts of microplastics. Some major players in the market include LG Electronics Inc., Whirlpool Corp., and Samsung Electronics Co., Ltd., among others.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- LG Electronics Inc., Whirlpool Corp., and Samsung Electronics Co., Ltd., among others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
A full report of Global Consumer Electronics and Home Appliances Market is available at: https://orionmarketreports.com/global-consumer-electronics-and-home-appliances-market/114038/
Global Consumer Electronics and Home Appliances Market Report by Segment
By Product
- Consumer Electronics
- Home Appliances
By End-User
- Commercial Use
- Home Use
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