The Global Electronics industry is worth a staggering $1.8 Trillion every year in value. It is one of the most sought out after sector for technology innovations as well because the success for key players in this sector depends on how effectively they are able to offer great devices at fabulous prices at profitable margins to win customer hearts.
Price optimization is one area that depends on how well you can source components and how effectively you can manage logistics to come up with favorable market supply. Being undoubtedly one of the largest industries in the world electronics manufacturers are facing newer challenges in ensuring quality of the devices they produce in mass scales. Over the past decade, people are increasingly relying on electronic devices that do more than what they did previously or in other words people are buying smarter electronic devices. From the smallest handheld MP3 players to large smart refrigerators, the avenue of smart consumer devices has grown tremendously. Nearly all of them have touch screen enabled interfaces and also has embedded software installed in them to operate as a smart device according to user interactions.
In fact Internet of Things (IoT) enabled smart homes will be one of the most invested sector in the coming years and smart homes will definitely include smart appliances such as smart televisions, refrigerators, etc. To offer great and reliable electronic devices, however it is imperative to offer great levels of product stability, intuitiveness and most importantly a fault free product. Over 24% of all accidental home fires are reported to have occurred due to faulty electronic appliances.