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Consumer Electronics Market predicted to witness significant growth over 2018-2024

Global Market Insights

Global Market Insights

Asia Pacific is touted to be one of the largest markets for consumer electronics, driven by the extensive changes in macroeconomics, such as the expanding middle class population, rising disposable incomes, changing demographic patterns, and rapid urbanization trends. The substantial surge in household incomes has had a direct relationship with the spending on electronics items, in turn stimulating the sales of consumer electronics products including the likes of tablets, smartphones, home appliances, and other wearable electronics. As per reliable statistics, by 2020, Asia Pacific is expected to witness 903 million TV households, an upsurge of 100 million than that recorded in 2014.

It has been further anticipated that the TV households will have an average of 1.21 TV sets per home, significantly leading to more than 1.3 billion sets across the Asia Pacific belt by 2020. It is also prudent to mention that India accounted for a household refrigerator & washing machine user rate of 31% and 10% respectively in 2013. China is another major region standing as a major contributor toward global consumer electronics industry share. China’s urbanization drive and rising focus on living a high-quality life have been the prominent factors fueling regional consumer electronics market trends. A data bearing testimony to the aforesaid fact – China’s household electric appliances sales reached 1,284 billion yuan in 2013, up from about 715 billion yuan in 2009. Yet another factor to have propelled China consumer electronics industry space is the region being host to renowned industry players including the likes of Midea group and Gree Electric, which are regarded as two of the top pioneers in consumer electronics industry space.

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Companies are now focusing on constant productivity improvements in several product costs as well as structural costs owing to the competitive cost structures. Manufacturers are also relying on collaborations and acquisitions to gain a larger industry share. Automation and digitization trends have been a game changer for practically every business sector, consumer electronics industry bagging the top position in the transformation queue. In fact, it wouldn’t be wrong to mention that with these hi-tech features, the product spectrum of consumer electronics market has revolutionized.

The industry, over the recent years, has seen a slew of new product launches that runs a gamut from hard-drive equipped TVs to networked home appliances including next-generation refrigerators and washing machines, credits – the increasing technology appetite along with the ‘smart’ trends that have indeed led to a paradigm shift in the consumer behavioral pattern, impacting the consumer electronics industry dynamics. Not to mention, with anticipation of ‘smart’ notion chiefly characterizing this business fraternity, the consumer electronics industry players are overt to witness a plethora of opportunities in the coming years. The global consumer electronics market, as per industry analysts, stood at USD 1100 billion in 2016.

Speaking of the competitive trends in consumer electronics market space, the industry is dynamically charged with participation of globally preeminent magnates such as Apple Inc., Samsung Electronics, Sony Corporation, Nikon, Bose, GoPro, and Sennheiser. Amidst a backdrop where technological advancements are being referred to as the top most success quotient underlining the sales of these products, these players are vigorously expanding their product pallets in sync with the latest smart trends.

The industry is further anticipated to witness an interesting change of events with the integration of AI and IOT in the product spectrum. What remains to be seen is how these ‘smart’ interventions would mold the competitive hierarchy of consumer electronics market in the coming years. All in all, in terms of remuneration, global consumer electronics market is estimated to surpass USD 1500 billion by 2024.

Browse key industry insights spread across 340 pages with 296 market data tables & 75 figures & charts from this 2018 report “Consumer Electronics Market Size By Product (Audio & Video Equipment [Personal, Professional], Major Household Appliance, Small Household Appliance, Digital Photo Equipment [Personal, Professional]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, Japan, South Korea, India, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Landscape & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/consumer-electronics-market

Table of Contents (ToC) –

Chapter 4. Consumer Electronics Market, By Product

4.1. Global consumer electronics market share by product, 2016 & 2024
4.2. Audio & video equipment (TV, Laptop, Smartphones, Earphones & Headphones, Speakers)
4.2.1. Market estimates and forecast, 2013 - 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.2.3. Market estimates and forecast, by application, 2013 – 2024
4.2.3.1. Personal
4.2.3.1.1. Market estimates and forecast, 2013 - 2024
4.2.3.1.2. Market estimates and forecast, by region, 2013 – 2024
4.2.3.2. Professional
4.2.3.2.1. Market estimates and forecast, 2013 - 2024
4.2.3.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3. Major household appliance (Refrigerator, Air Conditioner, Washing Machines)
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4. Small household appliance (Iron Box, Microwave Ovens, Food Processors, Electric Kettle)
4.4.1. Market estimates and forecast, 2013 - 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5. Digital photo equipment (Digital Camera & Camcorder)
4.5.1. Market estimates and forecast, 2013 - 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
4.5.3. Market estimates and forecast, by application, 2013 – 2024
4.5.3.1. Personal
4.5.3.1.1. Market estimates and forecast, 2013 - 2024
4.5.3.1.2. Market estimates and forecast, by region, 2013 – 2024
4.5.3.2. Professional
4.5.3.2.1. Market estimates and forecast, 2013 - 2024
4.5.3.2.2. Market estimates and forecast, by region, 2013 – 2024

Chapter 5. Consumer Electronics Market, By Application
5.1. Global consumer electronics market share by application, 2016 & 2024
5.2. Personal
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 - 2024
5.3. Professional
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 - 2024

Browse Full TOC of This Report @ https://www.gminsights.com/toc/detail/consumer-electronics-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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