The electrical and electronics sector is being prepared for the new generation of products, following the convergence of the energy sector with the retail sector and the expansion of artificial intelligence applications as well as connectivity, automation and the interaction of the devices with the everyday life of consumers.
Fridge Manager, AI Object Recognition, AI Vision Inside are some of the technologies that are now entering kitchens, living rooms, bedrooms for daily use.
Some of the changes are immediate, mainly those dependent on the energy sector, some others are long-term. However, everything depends on the current economic situation and the energy costs, the ongoing inflationary pressures that affect businesses and households due to the cost of living, but also the geopolitical turmoil that determines transport and freight traffic, weighing on the final prices of products.
An example of the rapid developments in the sector is the recent acquisition of Kotsovolos by PPC. The management of PPC will fully open its papers regarding its strategy on January 23 in a presentation to international investors. Moreover, the amendment of the statute and the expansion of Public to the energy sector, through the “provision to the general public of services related to the promotion, sale, purchase, production and trading of electricity and natural gas in general, as well as the provision of consulting services related to the Greek electricity and gas market” is another example.
Among the new products are bio-conditioning, smart energy consumption systems, heat pumps, photovoltaics, boilers, panels, provision of recharging services for Electric Vehicles as well as products in general which belong to the “energy efficient house” category.
In the meantime, the 11-month period of 2023 (January-November) for the Greek electrical and electronic goods market ended with a positive sign. According to the data of GFK, the value of the sales amounted to 2.92 billion euros, up 13% compared to the previous financial year. However, the increase in sales volume was only +5%, which demonstrates the impact of inflation on the electrical and electronic goods sector’s turnover.
