The global advanced commercial laundry machines market size is projected to exceed around USD 9,250.3 million by 2026, the market is estimated to grow at 6.4% CAGR during the forecast period. Increase in preference for advanced commercial laundry machines in laundromats and hospitality sector is one of the factors that is expected to boost the growth of the global advanced commercial laundry machines market.
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The electronics industry is continuously evolving with the changing market demand. This continuous product Innovation is driving the commercial laundry machines market. The latest trends in the global market will revolutionize the way commercial launderers expand their laundry business. The laundry operations of conventional laundry machines which are operated on location or either outsourced can be extremely hectic. The introduction of the Internet of the clothes or linens will contain tags that which will describe the type of fabric used as well as how the cloth was used. The smart technology is evolving rapidly due to the advancement of technology that provides innovative solutions that will help in energy efficient and will reduce water consumption. Most of the key manufacturers in the advanced commercial laundry machines market are already using a tagging process that links to the cloud and tracks the status of clothes washed. The rise in developments in laundry machines has transformed the electronics industry as the hospitality, laundromats and multi-housing sector are making efficient use of smart laundry technologies that are energy efficient and consumes less water. Therefore, this factor is expected to create growth opportunities for key manufacturers across the globe. Also, the usage of advanced commercial laundry machines is growing in multi-housing projects as compared to the conventional laundry machines which will have a positive impact on the global advanced commercial laundry machines market. Also, the advancement in smart laundry technology and usage of the Internet of Things (IoT) is rapidly gaining traction and is expected to create profitable opportunities for key manufacturers in the global advanced commercial laundry machines market. Moreover, the surge in the demand for laundromats in developing countries such as India and China is one of the major factors that is boosting the growth of the global advanced commercial laundry machines market
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The key manufacturers of the advanced commercial laundry machines are engaged in forming partnerships with other established players in order to expand their business geographically and strengthen their foothold in the global advanced commercial laundry machines market.For instance, in February 2019, Alliance Laundry Systems LLC acquired Commercial & Coin Laundry Equipment Co. (CLEC), which is one of the leading commercial laundry equipment distributors with an objective to sell its electronic products in Southeast America as well as to gain market share.
The global advanced commercial laundry machines market is segmented into capacity, end-use, and region. On the basis of capacity, the global advanced commercial laundry machines market is segmented into 0-30 Kg, 31-50 Kg, 51 Kg & above. Based on end-use, the global advanced commercial laundry machines market is segmented into multi-housing, schools & universities, hospitality, laundromats, hospitals & care homes, and others. On the basis of the region, the global advanced commercial laundry machines market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The major players associated with the global advanced commercial laundry machines market are Alliance Laundry Systems Limited, Whirlpool Corporation, Dexter Laundry Systems, Electrolux AB, IFB, BDS Laundry, and Domus Laundry,etc.The key players in the advanced commercial laundry machines market are constantly focusing on research and development activities in order to expand its product portfolio as well as increase their customer base in developing regions. Moreover, the key players are also strategically focusing on partnership, acquisition, and product launch in order to compete in the market and gain a leading position in the advanced commercial laundry machines market. The rising need for easy accessibility and flexible operation among users enables key manufacturers to offer innovative smart laundry technology that caters best as per customer need. These factors are expected to offer profitable growth opportunities for the prominent players in the global advanced commercial laundry machines market.
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