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Consumer Electronics Market Industry Trends, Growth, Size, Share and Forecast 2025

03-26-2020 11:07 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Consumer Electronics Market

Consumer Electronics Market

The global consumer electronics industry is expected to register considerable growth over the forecast period 2019-2025. Surging demand for products such as televisions, smartphones, and wearable devices is one of the primary driving factors for the global consumer electronic market. Moreover, rising disposable income coupled with increasing adoption of smart devices, technology proliferation, development of semiconductor industry, and increasing penetration of internet of things (IoT) are further fueling the growth of the consumer electronic market. The report analyzes the global consumer electronics market on the basis of product type and geography. Based on product type, the market is classified into smartphones and tablets, desktops, laptops/notebooks, televisions, cameras and camcorders, audio/video devices, gaming consoles and accessories, home appliances, and others. Other product type includes wearable electronics such as smartwatches and virtual reality and augmented reality gears. Smartphones and tablets segment

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Some of the key players of the market include Apple Inc., Canon Inc., GoPro Inc., Hitachi Ltd., Huawei Technologies Co. Ltd., LG Electronics Inc., Nikon Corp., Panasonic Corp., Samsung Electronics Co., Ltd., Sennheiser electronic GmbH & Co. KG, Sony Corp., Toshiba Corp., and several others.

Geographically, the market is analyzed into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to contribute major market share in the global consumer electronic market. Rapid urbanization, increasing disposable income of people, and presence of several key market players such as Samsung, Panasonic, Sony, Huawei, Hitachi, and several others are influencing the market growth of the region. However, industry is facing heavy headwind due to outbreak of COVID-19 across the globe. China has been hit hard by spread of the virus as the country is an epicenter of the COVID-19. Not only China, several major economies including the US, South Korea, Japan, and Italy are also under threat of COVID-19 outbreak and so is their consumer electronic industry. Retail shops and showrooms of major brands, super markets, and hypermarkets have been shut down for a definite period of time affecting sales of various consumer electronics products. For instance, Samsung Electronics America, announced to temporarily close all its US and Canadian store from 19th March 2020.

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Apart from this, COVID-19 has also disrupted the global supply chain of the major consumer electronic brands. China is the largest the largest consumer and producer of various consumer electronics products but also caters to a wide range of countries by exporting several input supplies that are essentially used to produce finished goods. Shut down of the production in China has forced other consumer electronics makers based in the US and Europe to temporarily hold the production of the finished goods. This is leading to the increase in the supply and demand gap. Furthermore, the report profiles several players that are contributing to the global Consumer Electronics industry.

Market Segmentation

Product Type

o Smartphones and Tablets
o Desktops, Laptops/Notebooks
o Televisions
o Cameras and Camcorders
o Audio/Video Devices
o Gaming Consoles and Accessories
o Home Appliances
o Others (Wearable Electronics)

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Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Contact no: +1 646-755-7667, +91 7803040404

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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