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Washing Machine Market to Hit USD 80.24 Billion by 2028 | Washing Machine Industry Striking CAGR of 5.5%

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Pune, India, Sept. 29, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the global washing machine market size is set to hit USD 80.24 billion by 2028, exhibiting a CAGR of 5.5% during the forecast period. Growing pace of globalization will play a crucial role in driving this market titled “Washing Machine Market, 2021-2028”. Globalization is a process wherein countries are getting interconnected economically, politically, and culturally. Most importantly, this process has facilitated accessibility and affordability to a host of technologically advanced products, from supersonic airplanes to simple home appliances such as washing machines. According to the World Bank, globalization has accelerated the pace of technological diffusion. Furthermore, cross-border exchange of technology has made life simpler and more comfortable and many beneficiary countries are emerging as promising markets for modern technologies. Thus, the rising tide of globalization is likely to lead the market trends in the upcoming decade.  

The report states that the value of the market stood at USD 52.80 billion in 2020.

The other highlights of the report include:

  • Detailed analysis of the market segments at an individual level;
  • Comprehensive study of all the possible drivers, trends, and challenges shaping the market;
  • In-depth research into the key market players and their main strategies; and
  • Exhaustive evaluation of the regional developments influencing the growth of the market.


COVID-19 Impact

Reduced Demand for Home Appliances to Inhibit Market Amid Coronavirus

The low consumption rate of electronic products has massively thwarted the market growth during the pandemic. As per the Economic Times’ data in April 2020, the appliances and consumer electronics industry witnessed a 50 percent decline in sales in the first quarter of 2020. Moreover, the disruption caused in the transportation and logistics industry will significantly hamper the market growth amid the COVID-19 pandemic.

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Washing Machine Market Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2021-2028
Forecast CAGR 5.5%
2028 Value Projection USD 80.24 Billion
Base Year 2020
Washing Machine Market Size in 2020 USD 52.80 Billion
Historical Data 2017-2019
No. of Pages 169
Segments Covered By Product, By Capacity, By Region
Washing Machine Market Growth Drivers Increasing Rate of Urbanization
Growing Reliance on Smart Home Appliances

Fortune Business Insights™ lists out all the washing machine market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Whirlpool Corporation (Michigan, United States)
  • Samsung Electronics Co. Ltd. (Suwon-si, South Korea)
  • LG Electronics Inc. (Seoul, South Korea)
  • Electrolux AB (Stockholm, Sweden)
  • Haier Group Corp (Qingdao, China)
  • Godrej Industries Ltd (Maharashtra, India)
  • IFB Industries Ltd. (Kolkata, India)
  • Panasonic Corp (Osaka, Japan)
  • Mirc Electronics Limited (Mumbai, India)
  • Bsh Hausgeräte Gmbh (Munich, Germany)

Market Restraints

Negative Environmental Impact of Washing Machines to Hinder Market Growth

The washing machine market growth may get impeded owing to the risks posed to the environment by these appliances, slowing down the purchase of these machines. Research conducted by a team from the Plymouth University in the UK found that one cycle of a washing machine can release over 700,000 microscopic plastic fibers in the environment. The biggest contributor, the researchers observed, was acrylic, which churned out nearly 730,000 tiny synthetic fibers per wash. Pollution caused by micro-plastic materials is a growing ecological concern across the globe as these substances are known to contaminate food chains, trigger behavioral changes in animals, and disrupt the energy flow between organisms. Findings of this study were substantiated through a study performed by University of California Santa Barbra, which also concluded that washing of clothes is a massive contributor to micro-plastic pollution in water bodies.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/washing-machine-market-102645

Regional Analysis

Increasing Adoption of Sedentary Lifestyle to Drive the Market in Asia-Pacific

The market size in Asia-Pacific stood at USD 21.66 billion in 2019 and the region is poised to dictate the washing machine market share in the forthcoming years. This will primarily occur as a result of increasing adoption of corporate work culture in developing nations such as India and China, which will make sedentary lifestyles more prevalent in the region. Besides this, rapid economic growth is putting more money in people’s hands, encouraging them to demand for luxury home electronics such as these machines.

In North America, steady income will ensure a stable demand for electronic products, while in Europe high per capita income will propel the market in the foreseeable future.

Rеаѕоnѕ to Get thіѕ Rероrt:

  • A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
  • Data on market value for each section and sub-segment
  • Indicates the region and market segment that is likely to expand the fastest and dominate the market.
  • The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
  • The competitive landscape includes the top players’ market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

Competitive Landscape

Integration of Intelligent Systems in Washing Machines by Players to Intensify Competition

As per the washing machine market analysis, leading companies in this market are developing machines that are powered by smart technologies such as Artificial Intelligence (AI). Top players such as LG and IFB are increasingly focusing on making and delivering products that are smarter, efficient, and sustainable.

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Overview of the Parent/Related Markets
    • Industry SWOT Analysis
    • Supply Chain and Regulatory Analysis
    • Recent Industry Developments – Policies, Partnerships, New Product  Launches, and Mergers & Acquisitions
    • Impact of COVID-19 on the Market
  • Global Washing Machine Market Analysis, Insights, and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Product (Value)
        • Fully Automatic (Front Load & Top Load)
        • Semi-Automatic
        • Dryer
      • By Capacity (Value)
        • Below 6Kg
        • 6.1- 8 Kg
        • Above 8 Kg
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa

TOC Continued…!

Industry Developments:

  • January 2020: LG, the South Korean electronics behemoth, launched the LG ThinQ™, the company’s most advanced washing machine. The machine comes with an Artificial Intelligent Direct Drive™ motor to ensure precision washing as well as an AI-enabled customer care service.
  • January 2019: Xiaomi, the Chinese electronics bigwig, introduced its comprehensive washing and drying machine, the Mija Smart All-in-one, in China. With a capacity of 10kg, the machine can wash a wide range of textiles at any given time and it can be entirely controlled by a smartphone.

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Frequently Asked Questions (FAQs):

1. How much is the global washing machine market worth?

Answer: Fortune Business Insights says that the global market size was USD 52.80 billion in 2020 and is projected to reach USD 80.24 billion by 2028.

2. What was the value of the global market in 2020?

Answer: In 2020, the market value stood at USD 52.80 billion.

3. At what CAGR is the product market projected to grow in the forecast period (2021-2028)?

Answer: Growing at a CAGR of 5.5%, the market will exhibit steady growth in the forecast period (2021-2028).

Read Related Insights:

United States Hotel Toiletries Market to Reach USD 11.41 Billion by 2029 | U.S. Hotel Toiletries Industry Striking CAGR of 12.45%

United States Mini Fridge Market to Reach USD 59.11 Million by 2029 | U.S. Mini Fridge Industry Striking CAGR of 9.60%

Blinds and Shades Market to Reach USD 8.76 Billion by 2029 | Blinds and Shades Industry Striking CAGR of 5.27%

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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Baner, Pune-411045, Maharashtra, India.

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Artificial Intelligence

Supermicro’s Rack Scale Liquid-Cooled Solutions with the Industry’s Latest Accelerators Target AI and HPC Convergence

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Complete Data Center Liquid-Cooled Solutions Enable AI Factories to be Constructed at Unprecedented Speeds Using the Latest Dense GPU Servers Equipped with the Highest-Performing CPUs and GPUs
SAN JOSE, Calif. and HAMBURG, Germany, May 13, 2024 /PRNewswire/ — International Supercomputing Conference (ISC) — Supermicro, Inc. (NASDAQ: SMCI), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, is addressing the most demanding requirements from customers who want to expand their AI and HPC capacities while reducing data center power requirements. Supermicro delivers complete liquid-cooled solutions, including cold plates, CDUs, CDMs, and entire cooling towers. A significant reduction in the PUE of a data center is quickly realized with data center liquid-cooled servers and infrastructure, and this can reduce overall power consumption in the data center by up to 40%.

“Supermicro continues to work with our AI and HPC customers to bring the latest technology, including total liquid cooling solutions, into their data centers,” said Charles Liang, president and CEO of Supermicro. “Our complete liquid cooling solutions can handle up to 100 kW per rack, which reduces the TCO in data centers and allows for denser AI and HPC computing. Our building block architecture allows us to bring the latest GPUs and accelerators to market, and with our trusted suppliers, we continue to bring new rack-scale solutions to the market that ship to customers with a reduced time to delivery.”
Supermicro application-optimized high-performance servers are designed to accommodate the most performant CPUs and GPUs for simulation, data analytics, and machine learning. The Supermicro 4U 8-GPU liquid-cooled server is in a class by itself, delivering petaflops of AI computing power in a dense form factor with the NVIDIA H100/H200 HGX GPUs. Supermicro will soon ship liquid-cooled Supermicro X14 SuperBlade in 8U and 6U configurations, the rackmount X14 Hyper, and the Supermicro X14 BigTwin. Several HPC-optimized server platforms will support the Intel Xeon 6900 with P-cores in a compact, multi-node form factor.
Learn more about how Supermicro Rack Scale Integration Services enable you to reduce costs and optimize your data center: https://www.supermicro.com/en/solutions/rack-integration 
In addition, Supermicro continues its leadership shipping the broadest portfolio of liquid cooled MGX Products in the industry.. Supermicro also confirms its support for delivering the latest accelerators from Intel with its new Intel® Gaudi® 3 accelerator and AMD’s MI300X accelerators. With up to 120 nodes per rack with the Supermicro SuperBlade®, large-scale HPC applications can be executed in just a few racks. Supermicro will display a wide range of servers at the International Supercomputing Conference, including Supermicro X14 systems incorporating the Intel® Xeon® 6 processors.
Supermicro will also showcase and demonstrate a wide range of solutions designed specifically for HPC and AI environments at ISC 2024. The new 4U 8-GPU liquid-cooled servers with NVIDIA HGX H100 and H200 GPUs highlight the Supermicro lineup. These servers and others will support the NVIDIA B200 HGX GPUs when available. New systems with high-end GPUs accelerate AI training and HPC simulation by bringing more data closer to the GPU than previous generations by using high-speed HBM3 memory. With the incredible density of the 4U liquid-cooled servers, a single rack delivers (8 servers x 8 GPUs x 1979 Tflops FP16 (with sparsity) = 126+ petaflops.  The Supermicro SYS-421GE-TNHR2-LCC can use dual 4th or 5th Gen Intel Xeon processors, and the AS -4125GS-TNHR2-LCC is available with dual 4th Gen AMD EPYC™ CPUs.
The new AS -8125GS-TNMR2 server gives users access to 8 AMD Instinct™ MI300X accelerators. This system also includes dual AMD EPYC™ 9004 Series Processors with up to 128 cores/256 threads and up to 6TB memory. Each AMD Instinct MI300X accelerator contains 192GB of HBM3 memory per GPU, all connected with an AMD Universal Base Board (UBB 2.0). Moreover, the new AS -2145GH-TNMR-LCC and AS -4145GH-TNMR APU servers are targeted to accelerate HPC workloads with the MI300A APU. Each APU combines high-performance AMD CPU, GPU, and HBM3 memory for 912 AMD CDNA™ 3 GPU compute units, 96 “Zen 4” cores, and 512GB of unified HBM3 memory in a single system.
At ISC 2024, a Supermicro 8U server with the Intel Gaudi 3 AI Accelerator will be shown. This new system is designed for AI training & Inferencing and can be directly networked with a traditional Ethernet fabric. Twenty-four 200 gigabit (Gb) Ethernet ports are integrated into every Intel Gaudi 3 accelerator, providing flexible and open-standard networking. In addition, 128GB of HBM2e high-speed memory is included. The Intel Gaudi 3 accelerator is designed to scale up and scale out efficiently from a single node to thousands to meet the expansive requirements of GenAI models. Supermicro’s Petascale storage systems, which are critical for large-scale HPC and AI workloads, will also be displayed.
The Supermicro SuperCloud Composer will be demonstrated for the data center management software, showing how, from a single console, an entire data center can be monitored and managed, including the status of all liquid-cooled servers.
Learn more about Supermicro’s presence at ISC 2024 at: https://app.swapcard.com/event/isc-high-performance-2024/exhibitor/RXhoaWJpdG9yXzE1NjYyODE=?
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first to market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions manufacturer with server, AI, storage, IoT, switch systems, software, and support services. Supermicro’s motherboard, power, and chassis design expertise further enable our development and production, enabling next generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names, and trademarks are the property of their respective owners.
SMCI-F
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Artificial Intelligence

The Future of AI in Retail Banking Operations

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LONDON, May 13, 2024 /PRNewswire/ — Artificial intelligence (AI) has emerged as a key focus for retail banking operations in recent months. Auriemma Group’s latest series of roundtables tackled the ever-growing space, discussing current usage of AI solutions and how members plan to utilize AI to further enhance their offerings.

“There’s a significant amount of interest in AI across all operational areas,” says Nicole Toussaint, Senior Manager of Industry Roundtables at Auriemma. “Although we’re seeing some hesitation in deploying it, I expect we’ll see some big moves by industry players over the coming months.”
Across all operational areas, firms are hoping to leverage AI to assist front-line employees with navigating their knowledge management systems. This would hopefully improve the accuracy of agent work and help to reduce lengthy training periods. Additionally, firms are considering using the tool enterprise-wide to produce meeting minutes and to assist in communications drafting.
In the Collections and Recoveries space, firms hope to use the tool in their contact strategies. Roundtable members believe that AI can make their contact more effective by creating more bespoke strategies. The technology can help firms decide the optimal time to contact customers, the most effective channel to make contact, and the most engaging messaging and content to use.
Fraud Departments see an opportunity to use AI to improve their current fraud detection models to identify bad actors and fraudulent payments more quickly. Several firms have already partnered with vendors who provide AI-powered fraud mitigation tools.
On the Servicing side, firms are discussing improvements to their chatbot offerings. Currently, many chatbots are FAQ-based, but firms believe that AI can revolutionise the chatbot experience and improve satisfaction scores in the channel.
“We see a clear opportunity to leverage AI to provide dynamic call scripting to front-line agents,” says Toussant. “This would take some of the pressure off agents when servicing and allow banks to provide a more tailored, well-informed customer experience.”
In the Disputes and Chargebacks space, one firm is already using an AI-integrated optical character resolution (OCR) tool to read customer documents provided as proof in a disputes case. Many firms hope to use AI to gain efficiencies in the disputes process. They believe that the tool can help guide agent decisions as they work cases by pulling in bank, scheme, and regulatory policies.
Similarly, in the Complaints space, members see an opportunity for AI to help complaints agents while investigating. AI can not only analyse the materials provided by the complainant but also bring in insights from previously decisioned cases and Financial Ombudsman (FOS) decisions. In this process, the technology can also guide the agent in classifying the complaint type. Some also noted that AI could potentially assist agents with drafting final response letters.
This topic is expected to become an evergreen topic at Auriemma Roundtable meetings, especially as firms identify new use cases and as Auriemma brings in experts from the field to drive further thought leadership.
The next set of roundtable meetings are scheduled for June and July at the Edwardian Hotel in Manchester. If you or any of your colleagues are interested in attending as our guests, please contact us via [email protected].
About Auriemma Group
For 40 years, Auriemma’s mission has been to empower clients with authoritative data and actionable insights. Our team comprises recognised experts in four primary areas: operational effectiveness, consumer research, co-brand partnerships and corporate finance. Our business intelligence and advisory services give clients access to the data, expertise and tools they need to navigate an increasingly complex environment and maximise their performance. Auriemma serves the consumer financial services ecosystem from our offices in London and New York City. For more information, visit us at www.auriemma.group.

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Artificial Intelligence

MSI Highlights Optimized AI Platforms to Accelerate Compute-Intensive Applications at ISC 2024

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HAMBURG, Germany, May 13, 2024 /PRNewswire/ — MSI, a leading global server provider, brings its latest server platforms powered by AMD processors and 5th Gen Intel® Xeon® Scalable processors, optimized for HPC and AI markets at ISC 2024, booth #F39 in Hamburg, Germany from May 13-15.

“As businesses increasingly adopt AI applications to improve customer experiences, the need for greater computing power and denser deployments has spurred significant shifts in IT infrastructure, driving a widespread adoption of liquid cooling,” said Danny Hsu, General Manager of Enterprise Platform Solutions. “MSI’s AI server platforms empower businesses to achieve efficiency gains while handling more compute-intensive workloads.”
Diverse GPU Platforms to Enhance Performance for AI Workloads
MSI G4201 is a 4U supercomputer designed for exceptional performance in compute-intensive tasks. It features up to eight double-wide PCIe 5.0 x16 slots optimized for high-performance GPU cards, alongside one single-wide PCIe 5.0 x16 expansion slot. Each GPU has a full PCIe 4.0 or 5.0 x16 link directly to the root port complex of a CPU socket without going through a PCIe switch, granting maximum CPU-to-GPU bandwidth. Powered by dual 5th Gen Intel Xeon Scalable Processors and equipped with 32 DDR5 DIMMs, the G4201 platform delivers outstanding heterogeneous computing capabilities for various GPU-based scientific high-performance computing, Generative AI, and inference applications. Additionally, the system includes twelve 3.5-inch drive bays for enhanced functionality.
The G4101 is a 4U 4GPU server platform designed for AI training workloads. It supports a single AMD EPYC™ 9004 Series processor equipped with a liquid cooling module, along with twelve DDR5 RDIMM slots. Additionally, it features four PCIe 5.0 x16 slots tailored for triple-slot graphic cards with coolers, ensuring increased airflow and sustained performance. With twelve front 2.5-inch U.2 NVMe/SATA drive bays, it offers high-speed and flexible storage options, catering to the diverse needs of AI workloads. The G4101 combines air flow spacing and liquid closed-loop cooling, making it the optimal thermal management solution for even the most demanding tasks.
For small-sized businesses, the liquid-cooled S1102-02 server offers an ideal solution, providing superior thermal performance while optimizing costs. Equipped with a single AMD Ryzen™ 7000 Series processor with liquid cooling support of up to 170W, the system features four DDR5 DIMM slots, one PCIe 4.0 slot, two 10GbE onboard Ethernet ports, and four 3.5-inch SATA hot-swappable drive bays in a compact 1U configuration.
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