Consumer Electronics Market Value Chain Analysis with Major Vendors: Electrolux, Acer, Best Buy, Bose, Dell, Fujitsu, GE, Google, Haier, Hitachi, Hewlett Packard Enterprise, Huawei, Philips, Logitech, LG, Panasonic, Bosch, Sharp Electronics, Sonos, Whirlp

Consumer Electronics Market size is set to exceed USD 1.5 trillion by 2024. Technological advancements in devices including smartphones, earphones & headphones, speakers and household appliance is anticipated to fuel the consumer electronics market growth. The growth is also characterized by the improving purchasing power of individuals across emerging economies coupled with the growing penetration of energy-efficient appliances. The rapid proliferation of wireless technologies such as Wi-Fi, NFC, and Bluetooth, provides ample growth opportunities to the industry. The focus on customer convenience and the enhancement of the user experience are encouraging the vendors to introduce latest features and technologies in the devices.

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Growth Drivers: -
• Technological advancements in earphones & headphones market
• Increasing demand for larger size TVs with advanced technologies
• Replacement of obsolete products and government initiatives in Europe
• Need for modernized appliances in Asia Pacific
• Energy efficiency measures in North America

Key Market Competitors:
1. Electrolux
2. Acer
3. Best Buy
4. Bose Corporation
5. Dell
6. Fujitsu Global
7. GE
8. Google
9. Haier
10. Hitachi
11. Hewlett Packard Enterprise
12. Huawei Technologies
13. Philips
14. Logitech
15. LG Electronics
16. Olympus Corporation of the Americas
17. Panasonic
18. Bosch
19. Samsung Electronics
20. Sharp Electronics Corporation USA
21. Sonos, Inc.
22. Siemens
23. Whirlpool Corporation
24. ZTE Corporation

The demand for air conditioners in the major household appliances segment is anticipated to rise over the forecast timeline. Increasing income levels and rising temperatures of the middle-class population in countries such as China and India further contribute to the segment growth. Rising penetration of air conditioners can also be credited to the declining price of such appliances. In the U.S., energy consumption by air conditioners almost doubled owing to the changing climatic conditions as well as increasing size of homes. The kitchen appliances, such as ovens, and cookers, are expected to witness a high demand owing to the rising adoption of technologically-advanced products coupled with changing lifestyles in urban areas contributing towards the overall consumer electronics market size.

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The audio and video equipment in the consumer electronics market are attributed to the development of new technologies such as 4K, 8K, and higher resolution systems. With an increasing number of video content and broadcasting companies such as Netflix and Amazon Prime developing 4K content, the movement towards ultra-high definition systems is anticipated to be very high. Additionally, the prices of these systems are declining at a very rapid rate. 4K TV prices experienced a decline from approximately USD 8,000 to USD 1,250 from 2012 to 2015 and will continue to do so in the following years positively impacting the market demand across the globe.

Asia Pacific – a profound business frontier for consumer electronics industry

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.

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Speaking of the competitive trends in consumer electronics market space, the industry is dynamically charged with participation of globally preeminent magnates such as Electrolux, Acer, Best Buy, Bose, Dell, Fujitsu, GE, Google, Haier, Hitachi, Hewlett Packard Enterprise, Huawei, Philips, Logitech, LG, Panasonic, Bosch, Sharp Electronics, Sonos, Whirlpool

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