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2.99%
- In 2024, the revenue generated in the Consumer Electronics market worldwide amounted to a staggering US$1,046.0bn. It is projected that the market will experience an annual growth rate of 2.99% from 2024 to 2028 (CAGR 2024-2028).
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It is projected that the market will experience an annual growth rate of 2.99% from 2024 to 2028 (CAGR 2024-2028). The largest segment within the Consumer Electronics market is Telephony, with...
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- Restraining Factors
- Consumer Electronics Market Segmentation Analysis
- Regional Insights
- List of Key Companies in Consumer Electronics Market
- Report Coverage
User-Friendly Smart Devices to Gain Momentum The rising trend of having connected homes is supporting the penetration of smart appliances globally. Growing R&D activities will lay the foundation for the market’s growth in the future and sustainability in the consumer electronics industry. Manufacturers have been continuously innovating and launchin...
Growing Residential Sector to Boost Product Demand The income level of the world population is rising, which allows them to spend more on housing and equip their homes with upcoming technological goods. Additionally, the growing trend of the inclusion of smart devices in the household would further expand the market size. The introduction of innova...
Lower Penetration in Less-Developed Countries to Hamper Growth Lower market penetration in certain less developed nations on account of sluggish economic conditions and the lack of access to electricity is expected to affect the market growth. For instance, according to a research paper published by Springer Nature, in 2022, Malaysia displayed sign...
By Product Type Analysis
Electronic Devices Segment to Dominate Owing to Greater Household Penetration Based on product type, the market is segmented as electronic devices and home appliances. Electronic devices are further classified into TVs, cameras, computers, and other products such as video and audio devices. The electronic devices segment is expected to witness a major consumer electronics market share owing to higher household penetration of TVs, computers, tablets, and laptops. Moreover, companies are launch...
By Distribution Channel Analysis
Purchase Convenience of Offline Stores to Propel Segment Growth Based on distribution channel, the market is segmented into offline and online. The offline segment is anticipated to hold a major market share as specialty electronic shops allow the buyer to understand the device features in-person. This factor enables the customer to compare and choose between a wide array of available brands, which, in turn, has increased the footfall in these shops. A greater convenience offered by online pl...
To get more information on the regional analysis of this market, Request a Free sample The Asia Pacific market value stood at USD 293.74 billion in 2023. The region is expected to dominate the global market owing to the robust presence of prominent players such as Sony, Samsung, Panasonic, and LG, in countries such as Korea, China, and Japan. In ad...
Players Focus on Investment in Research and Development Activities to Gain a Competitive Advantage Increasing investment in R&D enables consumer electronics companies to develop innovative products with advanced features, functionalities, and designs. These innovations differentiate their products from those of competitors, attract consumers seekin...
To get information on various segments, share your queries with us The market research report provides a detailed analysis of the market and focuses on key aspects such as competitive landscape, distribution channel, and leading product types. Besides this, the report offers insights into the market trends and highlights key industry developments. ...
Mar 8, 2024 · In the country, the retail revenue from consumer electronics sales is expected to reach close to 510 billion U.S. dollars by 2024 – a year-on-year growth also sustained by the launch of...
The consumer electronics market size was valued at over USD 1 trillion in 2020 and is estimated to grow at a CAGR of more than 8% from 2021 to 2027 owing to the rapidly increasing internet penetration across the globe.
- How big is the consumer electronics industry?The market for consumer electronics was valued at more than USD 1 trillion in 2020 and will expand at a robust CAGR of over 8% from 2021 to 2027 wi...
- What are the dynamics fostering the audio and video equipment in the global consumer electronics mar...The industry share from the audio and video equipment segment accounted for over 60% in 2020 and will expand due to the integration of advanced fea...
- How will the personal application contribute to consumer electronics market growth?The personal application segment will expand at a healthy CAGR of 9% through 2027 due to reduced prices of smartphones, Bluetooth speakers and smar...
- What are the growth prospects for consumer electronics suppliers in the APAC market?The APAC consumer electronics market size was valued at more than USD 400 billion in 2020 and will grow at a healthy CAGR with increasing urbanizat...
The United States to account for a CAGR of 4.10% by the end of 2023. High disposable incomes, a tech-savvy population, and a strong demand for the latest gadgets drive the consumer electronics markets in the country. Smartphones, laptops, and smart home devices have a significant market share.
- Sudip Saha
- 8.10%
- 2.80%
- 3.40%
- What is the expected worth of the consumer electronics market in 2023?The consumer electronics market is expected to reach US$ 3,296.66 million in 2023.Read Report
- What is the future of the consumer electronics market?The consumer electronics market is set to expand by a CAGR of 5.80% by 2033.Read Report
- How much valuation is projected for the consumer electronics market in 2033?The consumer electronics market is forecast to reach US$ 5,820.65 million by 2033.Read Report
- Which region will likely lead the consumer electronics market?A significant share of profits will likely come from the Industry in East Asia.Read Report
The global consumer electronics market sizewas valued at USD 1,068.22 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Smartphone proliferation is expected to fuel the global market for consumer electronics.
Consumer Electronics Market was USD 729.61 billion in 2022 and is predicted to rise at a CAGR of 3.94% during the forecast period to reach USD 993.92 billion by 2030.
