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India’s Consumer Electronics and Home Appliances Market to Grow by USD 1.93 Billion (2024-2028), Driven by Government Initiatives, AI Powered Insights by Technavio

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NEW YORK, Oct. 21, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The consumer electronics and home appliances market size in India is estimated to grow by USD 1.93 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 1.1% during the forecast period. Growth in government initiatives for electronic products is driving market growth, with a trend towards adoption of smart and advanced features in home appliances. However, compliance costs in consumer electronics and home appliances poses a challenge. Key market players include AB Electrolux, Arcelik A.S., Bajaj Electricals Ltd., ENERGIA APPLIANCES PVT. LTD., General Electric Co., Haier Smart Home Co. Ltd., Hitachi Ltd., Irobot Corp., Koninklijke Philips N.V., LG Electronics Inc., Midea Group Co. Ltd., Miele and Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., Transform Holdco LLC, Usha International Ltd., and Whirlpool Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Consumer Electronics And Home Appliances Market Scope In India

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 1.1%

Market growth 2024-2028

USD 1932.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

1.07

Regional analysis

India

Performing market contribution

APAC at 100%

Key countries

India and APAC

Key companies profiled

AB Electrolux, Arcelik A.S., Bajaj Electricals Ltd., ENERGIA APPLIANCES PVT. LTD., General Electric Co., Haier Smart Home Co. Ltd., Hitachi Ltd., Irobot Corp., Koninklijke Philips N.V., LG Electronics Inc., Midea Group Co. Ltd., Miele and Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., Transform Holdco LLC, Usha International Ltd., and Whirlpool Corp.

Market Driver

The Indian consumer electronics and home appliances market is witnessing significant growth due to the increasing preference for convenience and the emergence of smart home technology. Smart appliances, such as washing machines, refrigerators, and air conditioners, are becoming increasingly popular as they can be monitored and controlled remotely via smartphones. The Internet of Things (IoT) is a key driver of this trend, enabling interoperability between devices through wireless technologies like ZigBee and Wi-Fi. Smart washing machines, for instance, offer advanced features like Nest Learning Thermostat, enhanced self-diagnostics, and smart grid-ready capabilities, allowing consumers to optimize energy usage and save on electricity costs. Key competitors are responding to this trend by commercializing smart appliances, promoting them effectively, collaborating with platforms and internet providers, and adopting an omnichannel retailing strategy. The growing demand for energy conservation and rising electricity costs are further fueling the adoption of smart home appliances in India. As a result, the market for consumer electronics and home appliances in India is expected to continue growing during the forecast period. Companies are focusing on designing and producing more efficient and intelligent appliances to meet the evolving needs and preferences of consumers.

The Indian Consumer Electronics and Home Appliances market is witnessing significant trends. Imports have increased due to raw material price fluctuations. E-commerce platforms like Flipkart and Amazon dominate sales, driving growth in the sector. The IT industry’s demand for skilled IT labor fuels the smartphone segment. Specialty stores and B2C enterprises compete with e-commerce, offering unique selling propositions. Household appliances are in high demand due to increasing consumer spending. Industry associations conduct surveys to understand performance factors and consumer preferences. Exponential trend smoothing indicates an exponential growth trend. Current exchange rates impact imports, while ad hoc policies affect representativeness. Electricals, IoT technology, and emerging technologies like Artificial Intelligence, Augmented Reality, and Virtual Reality are key trends. The youth population, internet penetration, per-capita income, and high-income households drive demand. Rural areas present opportunities, but electronics component shortages and semiconductor supply issues persist.

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Market Challenges

The consumer electronics and home appliances market in India is experiencing an escalating cost burden due to the evolving regulatory landscape. The mandatory implementation of various compliance requirements, such as BEE Star rating compliance, BIS testing and certification, and environmental norms, adds to the production costs. The BEE Star rating compliance, which aims to promote energy-efficient appliances, has been a significant challenge due to the frequent changes in standards. The downgrading of existing highly rated appliances and the delay in BIS testing and certification, along with the increasing fees, contribute to the rising production costs. Furthermore, the lack of clarity in the implementation of environmental compliance and the uncertainty around policy changes increase the overall compliance costs. These factors ultimately impact consumer demand by making products less affordable. Despite the challenges, it is essential for the industry to adhere to these regulations to ensure product quality and consumer safety. However, the rapid and frequent changes in compliance requirements can hinder market growth during the forecast period.The Indian consumer electronics and home appliances market face several challenges. Import duties on electronics and fluctuating raw material prices impact profitability. E-commerce giants Flipkart and Amazon disrupt traditional sales channels, especially for B2C enterprises. The IT industry’s demand for skilled IT labor affects the manufacturing sector. The smartphone segment dominates consumer spending, but specialty stores struggle to compete. Industry associations conduct surveys to understand performance factors, including number of households, consumer spending, and current exchange rates. Exponential trend smoothing helps analyze market trends on an ad hoc basis. Electricals, IoT technology, and emerging technologies like Artificial Intelligence, Virtual Reality, and Augmented Reality drive growth. Rural areas and semiconductor shortages pose challenges. Mi Home app, electronics components, and microcontrollers are essential for IoT integration. The youth population, internet penetration, per-capita income, and high-income households influence purchasing power parity.

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Segment Overview

This consumer electronics and home appliances market in India report extensively covers market segmentation by

Product1.1 Consumer electronics1.2 Home appliancesDistribution Channel2.1 Offline2.2 OnlineGeography3.1 APAC

1.1 Consumer electronics- The Indian consumer electronics and home appliances market witnessed significant growth in recent years. Brands introduced various innovative products catering to diverse consumer needs. Sales increased due to rising disposable income and urbanization. E-commerce platforms and retail stores contributed to the market’s expansion. Consumers showed preference for energy-efficient and affordable products. Brands focused on after-sales service and customer satisfaction to retain market share.

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Research Analysis

The Consumer Electronics and Home Appliances market in India is witnessing an exponential growth, driven by several factors. The large youth population and increasing internet penetration are key catalysts, with over 700 million internet users expected by 2025. India’s per-capita income is also on the rise, boosting the purchasing power of consumers. High-income households are increasingly investing in advanced technologies, such as Artificial Intelligence (AI), Internet of Things (IoT), Augmented Reality (AR), and emerging technologies. The number of households in India is projected to reach 324 million by 2026, creating significant opportunities for market growth. Industry associations, such as the Consumer Electronics and Appliances Manufacturers Association of India (CEAMA), are actively promoting the sector. According to a recent survey, performance factors like energy efficiency, durability, and affordability are important considerations for consumers. Brands like Haier Smart Home and LG Electronics are leading the charge in this dynamic market. Consumer spending on consumer electronics and home appliances is expected to grow at a CAGR of 12% from 2021 to 2026, according to Exponential Trend Smoothing analysis.

Market Research Overview

The Consumer Electronics and Home Appliances market in India is experiencing significant growth, driven by the large youth population, increasing internet penetration, and rising per-capita income. High-income households, with purchasing power parity, are showing a strong interest in emerging technologies such as Artificial Intelligence, Internet of Things, Augmented Reality, and Virtual Reality. The market is also witnessing a growth in demand for microcontrollers and semiconductors. The electronics component shortage is a challenge for the industry, leading to imports and raw material price hikes. E-commerce platforms like Flipkart and Amazon are playing a crucial role in the market’s growth, with B2C enterprises and speciality stores also contributing. The IT industry, with its skilled IT labour, is a key player in the development and distribution of consumer electronics. The smartphone segment is leading the way in consumer spending, with exponential trends in sales. Industry associations are conducting surveys to understand performance factors and consumer preferences. The number of households and consumer spending are expected to continue the market’s growth trajectory. Current exchange rates and ad hoc basis analysis should be considered when evaluating market representativeness. Electricals and IoT technology are key areas of focus, with the Mi Home app being a popular choice for smart home solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductConsumer ElectronicsHome AppliancesDistribution ChannelOfflineOnlineGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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As ADA Anniversary Approaches, University of Phoenix Survey Highlights AI’s Potential to Advance Accessibility in Work and Learning

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Survey conducted by The Harris Poll on behalf of University of Phoenix finds among those already using AI in the workplace, 60% say AI has improved their knowledge of and ability to use accessibility standards and guidelines.

PHOENIX, July 24, 2026 /PRNewswire/ — As artificial intelligence becomes part of how people work, learn and solve problems, a new University of Phoenix survey conducted by The Harris Poll finds that recent working learners see meaningful opportunities for AI to support accessibility. The survey was designed to understand the impact of AI in the workplace and learning environments on accessibility, defined as ensuring digital content, tools and resources, including AI tools and output, are usable by people with different abilities through inclusive design, use of assistive technology or conformance with accessibility standards, such as the Web Content Accessibility Guidelines (WCAG). The findings are being released ahead of the 36th anniversary of the Americans with Disabilities Act (ADA) on July 26.

The survey, conducted among 1,019 U.S. employed adults who completed a professionally presented training or school course in the past 12 months (“recent working learners”), found that, among workers already using AI in the workplace, 3 in 5 (60%) say AI has improved their knowledge of and ability to use accessibility standards and guidelines, including nearly 1 in 5 (19%) who report significant improvement. 

While the findings point to optimism about AI’s accessibility potential, they also reveal an opportunity for clearer organizational guidance: 45% of respondents say accessibility is absent from, unclear in, or they are uncertain whether it is covered by their workplace AI policies.

“The reality is that accessibility benefits everyone,” shares Kelly Hermann, Vice President of Accessibility and Student Affairs at University of Phoenix. “If accessibility is built in from the beginning, organizations are more likely to create AI-enabled environments that are universally usable. Clearer content, better summaries, accurate captions, and multiple formats can help workers and learners with disabilities, but they also help busy adults, multilingual learners, mobile users, and anyone trying to absorb information quickly.”

Key findings from the survey include:

Workers see AI’s accessibility potential: 89% of recent working learners identify workflows that could benefit from AI and accessibility tools, especially creating accessible documents, presentations, websites or learning materials (38%), presenting information in different formats such as plain language, audio, summaries or translations (33%), and training employees or learners on accessibility practices (30%).AI may help build accessibility awareness: Among those already using AI in the workplace, 60% say AI has improved their knowledge of and ability to use accessibility standards and guidelines.Accessibility is not always clear in workplace AI policies: 45% of recent working learners say accessibility is absent from, unclear in, or they are uncertain whether it is covered by their workplace AI policies.AI tools may not yet fully support different access needs: Among those who use workplace AI tools, only about a quarter of survey respondents (27%) say AI tools available through their workplace or professional learning environment support people with disabilities very well.Human oversight remains important: 36% of recent working learners say human review for important decisions or high-impact work should be part of responsible AI use at work or school.Workers also recognize how AI and accessibility can have an impact on their own career journey: 90% of recent working learners identify AI and accessibility skills that would be valuable in their current or desired career field, including 45% who see value in understanding when AI-generated content needs human review.

Why accessibility is essential to responsible AI adoption

As AI tools are used to draft documents, summarize information, generate captions and transcripts, create image descriptions, support learning and assist with workplace tasks, accessibility becomes central to responsible use. Poorly implemented AI can also create or amplify barriers, including inaccessible content, inaccurate summaries, biased outputs and tools that do not work effectively with assistive technologies.

“Responsible AI is not only about productivity,” Hermann said. “It is about whether the technology works for the people who need to use it. AI can help create more accessible materials and more flexible ways to engage with information, but it still requires clear policies, practical training and human judgment to make sure the outputs are accurate, applicable and usable.”

What the findings mean for employers and educators

The survey suggests that organizations have an opportunity to align AI adoption with supportive design, accessibility practices and workforce training. Employers and educators can take immediate steps by:

Naming accessibility directly in AI policies and guidance.Choosing AI tools with accessibility and assistive technology compatibility in mind.Training workers and learners to create, check and improve accessible AI-generated content.Making support pathways clear for people who experience barriers using AI tools.Keeping human review in place for important decisions, high-impact work and accessibility-sensitive outputs.

The survey also found workers want practical AI training. The most helpful resources identified by recent working learners include real-world examples from their field or industry (36%), hands-on practice using realistic workplace scenarios (34%) and step-by-step demonstrations of common tasks (33%).

Accessibility insights from University of Phoenix

Hermann shared the survey findings ahead of the ADA anniversary in recent media interviews. Hermann oversees the University’s accessibility initiative, including evaluation and remediation of curricular resources, the Center for Access, Resources, Engagement and Support Services (CARES), and the Office of Collaborative Learning and Educational Engagement. Her work focuses on fostering accessible and welcoming educational environments for students, faculty and staff.

Hermann’s office at University of Phoenix also convenes accessibility conversations through initiatives such as Access Amplified™, a free, annual virtual event focused on advancing digital accessibility in web development. The event brings together engineers, developers, designers, content authors and digital strategists for practical strategies and human-centered conversations that address the gap between coding practices and how users with assistive technology experience the web.

About the survey

The survey was conducted online within the United States by The Harris Poll on behalf of University of Phoenix from June 22–29, 2026, among 1,019 employed adults ages 18 and older who have taken a professionally presented training or a school course in the past 12 months, referred to as “recent working learners.” Data were weighted where necessary by age, gender, race/ethnicity, region, education, employment, marital status, household size, household income and smoking status to bring them in line with their actual proportions in the population.

Respondents for this survey were selected from among those who have agreed to participate in surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 3.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.

Review the complete survey at phoenix.edu/aiaccessibility.

About University of Phoenix

University of Phoenix is Built for Real Life. 50 Years Strong. The University innovates to help working adults enhance their careers and develop skills in a rapidly changing world through flexible online learning, relevant courses, academic AI pillars, and skills-mapped curriculum for associate, bachelor’s and master’s degree programs. Active students and alumni have access to Career Services for Life® resources including career guidance and tools. For more information, visit phoenix.edu. 

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Mastech Digital to Announce Second Quarter 2026 Financial Results; Participate in Upcoming Investor Conference

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PITTSBURGH, July 24, 2026 /PRNewswire/ — Mastech Digital, Inc. (NYSE American: MHH) (“Mastech Digital”), a leading provider of Digital Transformation IT Services, today announced the date for the release of its financial results for the second quarter ended June 30, 2026, and its participation in an upcoming investor conference.

Second Quarter 2026 Earnings:

Mastech Digital will report its financial results for the second quarter 2026 before the market opens on Thursday, August 6, 2026. Management will host a live conference call and webcast at 9:00 a.m. Eastern Time on that day to discuss the Company’s financial performance and operating results.  The conference call will be hosted by Nirav Patel, President and CEO, and Kannan Sugantharaman, Chief Financial and Operations Officer.

Those wishing to participate via webcast should access the call through Mastech Digital’s Investor Relations website at https://investors.mastechdigital.com. Those wishing to participate via telephone may dial in at 1-800-715-9871 (USA) or 1-646-307-1963 (International) with the passcode 7506988. The replay will be available via webcast through Mastech Digital’s Investor Relations website.

Upcoming Investor Conference:

Mr. Sugantharaman will host a fireside chat at the Sidoti Micro-Cap Investor Conference on Wednesday, August 19, 2026, at 9:15 a.m. Eastern Time.

Mastech Digital management is scheduled to host virtual one-on-one and small group meetings with investors during the conference on August 19-20, 2026. Investors interested in arranging a meeting should contact their Sidoti representative or reach out to the Mastech Digital investor relations team at investors@mastechdigital.com.

About Mastech Digital, Inc.

Mastech Digital (NYSE American: MHH) is a leading provider of Digital Transformation IT Services. The Company offers Data Management, Analytics & AI Solutions, and IT Staffing Services with a digital-first approach. A minority-owned enterprise, Mastech Digital is headquartered in Pittsburgh, PA, with offices across the U.S., Canada, Europe, and India. Visit us at www.mastechdigital.com.

Investor Relations Contact:
investors@mastechdigital.com 

 

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SOLAI Limited Announces Extraordinary General Meeting

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AKRON, Ohio, July 24, 2026 /PRNewswire/ — SOLAI Limited (NYSE: SLAI) (“SOLAI” or the “Company”) (previously known as “BIT Mining Limited”), a technology-driven personal AI and digital infrastructure provider, today announced that it will hold its extraordinary general meeting of shareholders at 428 South Seiberling Street, Akron, Ohio, US on August 14, 2026 at 10:00 a.m., New York time.

Holders of record of ordinary shares and preference shares of the Company at the close of business on July 20, 2026, New York time (the “Record Date”) are entitled to receive notice of, and to attend and vote at, the extraordinary general meeting or any adjournment thereof. Holders of the Company’s American Depositary Shares (“ADSs”) who wish to exercise their voting rights for the underlying ordinary shares must act through the depositary of the Company’s ADS program, Deutsche Bank Trust Company Americas.

The notice of the extraordinary general meeting, which sets forth the resolutions to be submitted to shareholder approval at the extraordinary general meeting is available on the Investor Relations section of the Company’s website at https://ir.solai.com

About SOLAI Limited

SOLAI Limited (previously known as “BIT Mining Limited”) (NYSE: SLAI) (previously traded under “BTCM”) is a technology-driven personal AI and digital infrastructure provider. Building upon its historical legacy in digital asset mining and blockchain network operations, the Company is leveraging extensive experience in large-scale hardware deployment, data center operations, and high-performance computing to build the foundational infrastructure for personal AI computing and digital asset ecosystems globally.

For more information:

SOLAI Limited
ir@solai.com
ir.solai.com
www.solai.com 

Christensen Advisory
Jason Ng
Tel: +852-2117-0861
Email: solai@christensencomms.com 

 

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