When it comes to buying home appliances, the list of features that consumers look for in a product are changing.

Consumers want products that will help them save on their energy bills, are efficient when operating, and are connected to the Internet. Speaking at a media session recently, experts from Whirlpool highlighted how changing consumer preferences are impacting the demand for home appliances in the region.

"Traditionally, consumers would like at a product's price, warranty and brand reputation," noted Norbert Schmidt, vice-president of market operations, products and brands at Whirlpool for the Europe Middle East and Africa region.

"The focus has shifted to the experience; wherein consumers look at everything from how sustainable and energy efficient a product is, to the experience of using it in a digital environment. They want the ability to communicate with their appliances through voice control when they are inside, as well as outside their homes," Schmidt said.

Esther Berrozpe Galindo, president of Whirlpool Emea and executive vice-president of Whirlpool Corp, said Emea consumers, especially the younger home owner demographic, are ready for these types of innovations and products. "We are already seeing an increase in the adoption of connected products."

According to a market research report by MarketsandMarkets, the smart appliances market is estimated to reach $37.2 billion by 2020, and is expected to grow at a CAGR of 15.4 per cent.

Smart home appliances are expected to lead the market during the forecast period; they accounted for around 48 per cent of the share in 2014. This market is expected to grow at a CAGR of 16.8 per cent between 2015 and 2020.

However, due to the growing advancements in kitchen appliances, the market for the same is expected to grow at a CAGR of 14.6 per cent between 2015 and 2020.

"You have home appliances such as washing machines and dish washers that you can remotely command through your smart watch," he said, among others, highlighting the possibilities of connected home appliances.

 

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