Bosch Home Appliances will invest €100 million over the next 3-4 years in personalising solutions, brand-building, strengthening its technology centre and UX studies, and setting up a robust refrigerator factory in India.
In the coming years, Bosch will majorly focus on connectivity with its IoT-based product solutions, strengthen its entry-level portfolio, introduce relevant global products and new digital business models for customer value (D2C). These initiatives will increase new employment opportunities in the space, a press statement from the company said on Wednesday.
India’s household appliances market is expected to grow at 14.5 per cent annually (CAGR 2018-2022), resulting in a market volume of $2 billion by 2022. Bosch India expects its business in this sector to grow significantly over the coming years. In line with this insight, Bosch has steadily expanded its product portfolio, with a major focus on localised offerings and India-first innovations built with the highest quality of German engineering.
“The pandemic has induced the need to own good quality technology which add convenience and hygiene to everyday chores at home. The growth of the dishwashers’ category is a good case in point. We will also increase our dominance in the cooking appliance segment by introducing newer product categories in both free-standing and built-in range,” Neeraj Bahl, MD and CEO, BSH Household Appliances, said.