The major appliances market is rebounding, driven by AI, sustainability and servitisation. AI is transforming smart appliances, while circular economy practices enhance sustainability. Beko Corp rises to number two globally, challenging market leaders. Subscription models and direct sales are reshaping customer relationships, offering recurring revenue and loyalty opportunities.
This report comes in PPT.
The smart home market is expected to reach USD600 billion by 2030, driven by demand for connected, convenient and energy-efficient home solutions.
AI will enable personalised services such as energy management and health monitoring, central to the servitisation model. This is a critical shift from one-off sales to a recurring model.
Arçelik, now Beko Corp, has become the world’s number two home appliance company after integrating Whirlpool’s EMEA markets.
This positions Beko to challenge Chinese companies in the medium to high-end segment of the market they have long dominated.
Sustainable appliances are approaching the limits of physics. The next level of efficiency will only be achieved through home automation using AI.
Extended Producer Responsibility (EPR) regulations, and resultant circularity initiatives will be key to a company’s sustainability push.
Servitisation shifts companies from one-time sales to recurring revenue through integrated product-service solutions, boosting customer loyalty.
It enhances margins, increases touchpoints and leads to higher market valuations through stable recurring revenue streams.
Appliance subscription models shift companies from one-time sales to ongoing, service-based customer relationships. This approach enhances customer loyalty and recurring revenue.
LG has been a pioneer and has seen tremendous success with subscription revenue growing 200% between 2022 and 2024.
Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.
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