Consumer Electronics Market Industry Trends, Growth, Size, Share and Forecast 2025
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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.
A full report of Global Consumer Electronics Market is available at: https://www.omrglobal.com/industry-reports/covid-19-impact-on-consumers-electronics-market
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.
o Smartphones and Tablets
o Desktops, Laptops/Notebooks
o Cameras and Camcorders
o Audio/Video Devices
o Gaming Consoles and Accessories
o Home Appliances
o Others (Wearable Electronics)
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