The world is evolving with technology and in the midst of a volatile growth, Woxx has built something fascinating that is changing the way people use electronics on a day to day basis. They have done amazing work in the sound industry that was not done before and has made a huge impact on day to day life of end consumers.
The consumer electronics industry is expected to grow at a compound annual growth rate of more than 7% between 2020 and 2026. The main drivers of this growth include investment in research and development (R&D) of new products, like smartphones, smart wearable devices, and home appliances.
Consumer electronics stand out as one of the most rapidly evolving fields in the technology sector. Today, most people have devices in their homes that would have only been available to the biggest research laboratories or the ultra-wealthy, just a few short years ago. As technological capacity continues to grow, manufacturers are racing to produce products that will change the quality of life for people around the world.
In the consumer electronics industry, short product life cycles and increasing product variants pose a major challenge to the growth of the industry. Due to the rapid changes in technology, customers are increasingly switching to electronic products that incorporate the latest technologies. This has led to the shortening of the product life cycle of various gadgets, such as smartphones, TVs, and cameras, which is a hindrance to market growth. Companies face the challenge of shortening product development time and time-to-market research in order to survive in a highly competitive environment.
Woxx has lined up innovative products that are doing exactly the same and revolutionizing the industry.
The pace of technological innovation has been accelerating exponentially, along with the number of companies producing devices. A variety of events have shaped the direction of innovation, shifting the focus of big and small manufacturers alike to certain areas. These trends present a big opportunity for everyone in the industry—from large-scale manufacturers to small startups and their investors—who can get ahead of the curve and meet increasingly large customer demand expected to reach $1.5 trillion in five years.
Even as the consumer electronics industry continues to grow, the pace of change is rapid. Opportunities abound for people who are able to make the most of new technologies in areas like manufacturing, artificial intelligence, and others to provide customers with what they want as soon as they need it. And Woxx is taking part in this world changes.
Upon asking for their extraordinary ideas and work Founder & CEO Arpit Bajaj added that “We have tried to change the mindset of customers as we don’t sell our products as electronics only. We sell them as lifestyle accessories. We are trying to portray that our products can be part of your everyday fashion.”
And we hope, that Woxx keeps doing such Good innovations and great work and people keep loving their products.