openPR Logo
Press release

Growth in Demand from Consumers to Heighten Sales of Consumer Electronics Market

12-08-2020 08:05 AM CET | IT, New Media & Software

Press release from: Persistence Market Research

Growth in Demand from Consumers to Heighten Sales of Consumer

Persistence Market Research indicates staggering growth prospects for the global consumer electronics market. The market is expected to approach a value of US$ 1,712.9 Bn by 2016 end, which may raise at a CAGR of 15.4% over the next four years. Smartphones will remain the dominant consumer electronics product type, whereas Asia Pacific will continue to be the leading region over 2016-2020.
The middle-class population is increasing worldwide, since the past few years. Moreover, urban consumers have been indicating a shift in lifestyle. Growing preference for usage of electronic devices in daily chores is primarily driving the market for consumer electronics. Soaring Internet penetration and increasing disposable income are allowing consumers to use multiple electronic devices. This will continue to fuel the market growth over the next few years. Rapid adoption within a short span from their inception is a prominent factor indicating the potential of wearable electronics adoption.
To remain ‘ahead’ of your competitors, request for a sample here@ https://www.persistencemarketresearch.com/samples/3068
Growing awareness about the benefits of electronic devices will also be a key factor strongly supporting the market growth. Rising popularity of the connected homes concept is likely to push the demand for smart home devices over the forecast period. Smart mobile devices, kitchen appliances, HVAC systems, and intelligent security systems will especially gain traction within the next few years. With rising government support to digitalization of a variety of services, the market is likely to witness surging promotion and adoption of consumer electronics. Moreover, technological advancements and consistent R&D leading to new product launches will boost the market growth during the forecast period.
Relatively lower technological awareness among consumers in developing regions and higher costs of electronic devices currently available in the market may collectively continue to create a barrier to the growth of the global consumer electronics market. Recently identified quality issues and technological hazards, especially in smartphones, also play a key role in restricting adoption of smart consumer devices on a global level.
By device type, the global consumer electronics market is segmented into consumer electronic device, wearable device, and smart home device. The three key categories are further sub-segmented. Among these, the consumer electronic device segment will remain dominant with over 97% share of the global market by the end of the forecast period. On the other hand, the smart home device segment is poised to expand at the fastest CAGR through the forecast period. This segment will, however, continue to attract the maximum revenues from smartphones sub-segment, followed by PCs sub-segment.
For critical insights on the keyword market, request for methodology here @ https://www.persistencemarketresearch.com/methodology/3068
Based on region, the global consumer electronics market is classified as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. APEJ is anticipated to retain dominance with over 31% market value share by 2020 end. While North America followed by Europe, will be the next major markets, APEJ market is foreseen to witness the fastest CAGR.
The key players participating in the highly competitive landscape of the global consumer electronics market, include Apple Inc., Sony Corporation, Samsung Electronics Co. Ltd., Hitachi Ltd., Toshiba Corporation, LG Electronics Inc., HP Inc., Panasonic Corporation, and Toshiba Corporation. The market involves a large number of globally established brands as well as newly entering regional brands. Key companies are largely focusing on innovative product launches and cost-effective product development through strategic M&A.
For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/3068

Contact us: 305 Broadway, 7th Floor
New York City, NY 10007 United States
Ph.no. +1-646-568-7751
E-mail id- sales@persistencemarketresearch.comWebsite: https://www.persistencemarketresearch.com

About us: Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Growth in Demand from Consumers to Heighten Sales of Consumer Electronics Market here

News-ID: 2204378 • Views:

More Releases from Persistence Market Research

North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
Overview of the North America Wiring Devices Market The North America wiring devices market is poised for steady growth over the forecast period, with its size estimated at US$ 18.96 billion in 2024, projected to reach US$ 26.46 billion by 2031, reflecting a CAGR of 4.9%. The market is witnessing substantial expansion due to increasing urbanization, a rising number of residential and commercial construction projects, and the adoption of energy-efficient and
Global Forged Automotive Components Market Poised for Steady Growth, Projected to Reach US$ 70.7 Billion by 2032
Global Forged Automotive Components Market Poised for Steady Growth, Projected t …
The global forged automotive components market is on a robust growth trajectory, currently valued at approximately US$ 50.3 billion in 2025 and forecasted to expand to US$ 70.7 billion by the end of 2032. This growth represents a compound annual growth rate (CAGR) of 5.0% over the coming decade, driven by increasing automotive production, technological advancements, and evolving consumer preferences toward durable, high-performance vehicle parts. Forged automotive components are critical to
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ 2.14 Billion by 2032, Reports Persistence Market Research
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ …
The global electric cargo bike market is set to experience substantial growth over the coming decade, with Persistence Market Research (PMR) forecasting a compound annual growth rate (CAGR) of 11.9% from 2023 through 2032. Valued at approximately US$ 800 million in 2021, the market is expected to surge to a projected valuation of US$ 2.14 billion by the end of 2032. Notably, electric cargo bikes accounted for 66.2% of the
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Driven by Urbanization and Demographic Trends
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Drive …
The global bicycle bearings market is poised for significant expansion over the forecast period of 2025 to 2032, according to the latest report released by Persistence Market Research. Valued at approximately US$ 5.99 billion in 2024, the market is projected to reach US$ 6.35 billion by 2025 and further escalate to nearly US$ 9.86 billion by 2032. This growth trajectory reflects a compound annual growth rate (CAGR) of 6.5%, underscoring

All 5 Releases


More Releases for Corporation

Endotherapy Devices Market Key Players: Hoya Corporation, Olympus Corporation, S …
A fresh report titled “Endotherapy Devices Market” has been presented by KD market insights. It evaluates the key market trends, advantages, and factors that are pushing the overall growth of the market. The report also analyzes the different segments along with major geographies that have more demand for Endotherapy Devices Market. The competition analysis is also a major part of the report. The global endotherapy devices market is projected to reach
Digital Living Room Market 2017-2025 | Samsung Corporation, Sharp Corporation, B …
Global Digital Living Room Market: Snapshot The living room gadgets in the early 1980s were predominantly televisions. Today, living rooms have evolved into a place with a number of devices thanks to inventions and evolution of the consumer electronics industry. Following this, researchers are focused on bridging the gaps between different devices in the living room by means of connected living rooms. This involves connecting the array of primary and secondary
Global Healthcare Clinical Analytics Market to 2022| IBM Corporation, Cerner Cor …
Albany, NY, 3rd December : Recent research and the current scenario as well as future market potential of "Global Market Study on Healthcare Clinical Analytics: North America to be the Most Lucrative Market During the Assessment Period (2017 - 2022)" globally. Introduction Persistence Market Research delivers yet another unbiased, comprehensive and insightful report titled ‘Healthcare Clinical Analytics Market: Global Industry Analysis (2012-2016) and Forecast (2017-2022)’. Get PDF for more Professional and Technical insights
Endotherapy Devices Market Key Players : Hoya Corporation, Olympus Corporation, …
Endoscopy Devices Market is performed to examine abdominal pain, ulcers, digestive tract bleeding, and abnormal growths in the colon and other abdominal & gastrointestinal (GI) conditions. The minimally invasiveness of this procedure with fewer post operation complications makes it one of the most preferred and sought-after procedures in diagnostics and surgeries. The global endotherapy devices market is projected reach $5,015 million by 2024 from $3,369.0 million in 2017, growing at
Endoscopy Devices Market Share with Olympus Corporation, HOYA Corporation, Fujif …
Endoscopy Devices Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $40,854 million by 2022 from $27,273 million in 2015, registering a CAGR of 5.7% during the period 2016 to 2022. The flexible endoscopes are expected to dominate the global endoscopy devices market. North America is projected to continue its lead, accounting for more than one-third share of the global endoscopy devices market
Digital Living Room Market 2017 - 2025 : Sharp Corporation, BenQ Corporation, So …
Global Digital Living Room Market: Snapshot The living room gadgets in the early 1980s were predominantly televisions. Today, living rooms have evolved into a place with a number of devices thanks to inventions and evolution of the consumer electronics industry. Following this, researchers are focused on bridging the gaps between different devices in the living room by means of connected living rooms. This involves connecting the array of primary and secondary