What’s Driving the Consumer Electronics Market Trends? | Electrolux, Best Buy, Bose Corporation, Canon, Inc., Dell, Fujitsu Global, Gionee, Haier, Huawei Technologies, Sennheiser, Sonos, Inc., ZTE Corporation

Consumer Electronics Market is expected to exceed USD 1,500 billion by 2024. Rising popularity of OLED and 4K televisions followed by the declining prices of these devices across various regions is expected to drive the consumer electronics market over the forecast timeline. In addition, with the growing replacement rate of traditional televisions with newer ones, adoption is expected to increase over the years. The launch of televisions with new and advanced features such as built-in Wi-Fi & internet connectivity, ultra-high resolution & color contrast, Dolby vision and Dolby Atmos to deliver outstanding picture and sound quality, further contributes to the industry demand.

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Rapid fall in mobile data rates coupled with the integration of cutting-edge features such as powerful imaging systems, high resolution displays and fingerprint scanners in smartphones is anticipated to catapult the consumer electronics market growth. The smartphone industry is currently witnessing a gradual decline in prices resulting in increasing number of users worldwide. Rising disposable income of the middle-class population across the emerging economies is providing significant growth opportunities to the consumer electronics market growth.

The Major Key Players in the Consumer Electronics Market are as follows:
• Electrolux
• Best Buy
• Bose Corporation
• Canon, Inc.
• Dell
• FUJIFILM Holdings America Corporation
• Fujitsu Global
• Gionee
• Haier
• Hitachi
• Hewlett Packard Enterprise
• Huawei Technologies
• Sharp Electronics Corporation USA
• Sennheiser
• Sonos, Inc.
• Whirlpool Corporation
• ZTE Corporation

Some Points From Table Of Content: -
Chapter 3. Consumer Electronics Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.1.1. Direct selling
3.3.1.2. Independent authorized distributors and resellers
3.3.1.3. Online channel
3.3.2. Vendor matrix
3.4. Technological and innovation landscape
3.4.1. Household equipment
3.4.1.1. NFC technology
3.4.2. Advanced compressor technologies
3.4.3. Connected appliances
3.4.4. Audio and video equipment
3.4.4.1. Advanced battery technology in smartphones
3.4.4.2. Wireless charging
3.5. Regulatory landscape
3.5.1. U.S.
3.5.1.1. Consumer Product Safety Act
3.5.1.2. Federal Hazardous Substances Act (FHSA)
3.5.2. EU
3.5.2.1. EMC Directive
3.5.2.2. Eco-design Directive
3.5.2.3. EU 517/2014
3.5.3. China
3.5.3.1. Electricity act of 1994
3.5.3.2. Waste Electrical and Electronic Equipment Directive (2002/96/EC)
3.5.4. Russia
3.5.4.1. The Federal Law 'On Personal Data' No. 152-FZ
3.5.4.2. Information Protection Act No. 149
3.5.4.3. Regulation No. 781
3.5.4.4. Rules of sale of goods by remote method, No. 612
3.5.4.5. Protection of rights of consumers, No. 2300-1
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Audio and video equipment
3.6.1.1.1. Technological advancements in earphones & headphones market
3.6.1.1.2. Increasing demand for larger size TVs with advanced technologies
3.6.1.1.3. Rising purchasing power
3.6.1.1.4. Growing demand for smartphones
3.6.1.2. Household appliances/equipment
3.6.1.2.1. Energy efficiency measures in North America
3.6.1.2.2. Replacement of obsolete products and government initiatives in Europe
3.6.1.2.3. Need for modernized appliances in Asia Pacific

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Rapid industrialization, technological advancements and reducing prices of the air conditioner technology is anticipated to spur the demand for room air conditioners. Split air conditioners will witness a significant demand due to the ease of installation, higher energy efficiency and varying building infrastructures. Growing demand for energy efficient appliances followed by the increasing requirement for replacement of older electric household appliances is expected to have a positive impact on the consumer electronics market growth.

Increasing prominence of advanced and wireless technologies is expected to drive the personal consumer electronics market segment growth. Emerging trend of smart and IoT connected devices, such as smart refrigerators and TVs, having remote, app-based control and sensing capabilities is causing an increasing number of consumers to replace traditional equipment with smart devices. Globalization and fast industrialization in the Asian economies such as China, India and Japan help in increasing the income level of working class, further contributing to the industry growth.

North America consumer electronics market is anticipated to witness substantial growth during the forecast timeframe owing to large-scale technological advancements. The region is fast adopter and developer of new technologies such as 5G technology for smartphone users. Consumer spending on high-end electronics in the region is due to the high disposable income and low consumer debt, allowing an increasing number of consumers to incorporate these technologies as a part of their daily lives.

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