Press release
Consumer Electronics Market Expanding at 5.6% CAGR, Total Revenue is Anticipated to Reach US$ 17 Bn by 2031
Consumer Electronics Market
"Global consumer electronics market growth is mainly driven by increasing disposable income, expanding urban population, growing internet penetration and availability of strong distribution network. Moreover, increasing adoption of smartphones in the Asia Pacific region, especially in the populous countries of China and India is supporting the growth of global consumer electronics market," FMI Analyst.
Consumer electronics device segment is further sub-segmented into smartphone, feature phone, tablet, smart TVs, other TVs, set-top box, personal computer, digital camcorder & camera, digital media adapter, digital video recorder (DVR), game console, printer and other consumer electronics device.
Among all the aforementioned sub-segments, smartphone sub-segment was the largest contributor to the consumer electronics device segment revenue, with over 25% market share.
Further, smart-phone sub-segment is estimated to exhibit fastest CAGR of over 20% However, feature phone sub-segment is likely to experience negative CAGR throughout the projected period as consumers are shifting from feature phone to smartphone. Game console sub-segment has been facing stiff competition from tablets and smartphones, as these devices have emerged as a viable substitute for game console.
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The wearable device segment includes smart accessory and other wearable device, while smart home device is sub-segmented into smart kitchen appliance and security & HVAC system.
This report also covers the seven regions such as North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA) in the consumer electronics market. Of all the regions, APEJ and North America were the most prominent regions, with over 40% share of the global consumer electronics market in 2014.
Additionally, consumer electronics market in APEJ is projected to witness the fastest CAGR over the forecast period. Eastern Europe and Latin America are the other attractive regional markets in terms of revenue CAGR. This growth is attributed to the increasing disposable income and changing consumer lifestyle in these regions.
Completive Analysis
Major players in the global consumer electronics market continue to innovate by including advanced features into consumer electronic devices. Additionally, major participants such as Apple Inc. and Samsung Electronics Co. Ltd. have been focusing on operational expansion in order to gain competitive advantage. Key players included in global consumer electronics market are Apple Inc., Samsung Electronics Co. Ltd., HP Inc., LG Electronics Inc., Sony Corporation, Toshiba Corporation, Panasonic Corporation and Hitachi Ltd.
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Consumer Electronics Market Key Segments
Product
Consumer Electronic Devices
Digital Camcorder/DVR and Camera
Smart Phones/Feature Phones & Tablets
Smart TV
Printers/ Set Top Box
Personal Computers & Gaming Consoles
Wearable Devices
Smart Accessories
Other Wearable Devices
Smart Home Devices
Securities & HVAC Systems
Smart Kitchen Appliances
Sales Channel
Hypermarkets/Supermarkets
Specialty Stores
Multi-brand Stores
Online Retailers
Wholesalers & Distributors
Other Sales Channel
Region
North America
Latin America
Europe
East Asia
South Asia
Middle East and Africa (MEA)
Oceania
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Explore FMI's Extensive Coverage on Consumer Product Domain
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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