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Consumer Electronics Market Size - In-depth Analysis Report, Overview, Demand, Top Players, and Current Trends with Forecast to 2027

Consumer Electronics Market

Consumer Electronics Market

According to Fortune Business Insights, the global consumer electronics market size is expected to showcase considerable growth by reaching USD 989.37 billion by 2027. The growth is attributable to the growing demand for user-friendly electronic products and the rising residential sector that propels the demand for consumer electronics globally. Fortune Business Insights in its latest report, titled, "Consumer Electronics Market, 2020-2027.", mentions that the market stood at USD 729.11 billion in 2019 and is projected to exhibit a CAGR of 5.3% between 2020 and 2027.

Get a Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/consumer-electronics-market-104693

Fortune Business Insights™ lists out all the consumer electronics market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• Samsung Group (Suwon, South Korea)
• LG Electronics Inc. (Seoul, South Korea)
• Sony Corp. (Tokyo, Japan)
• Panasonic (Osaka, Japan)
• Koninklijke Philips N.V. (Amsterdam, Netherlands)
• Whirlpool Corp. (Benton Harbor, U.S.)
• AB Electrolux (Stockholm, Sweden)
• Apple Inc. (Cupertino, U.S.)
• HP Inc. (Palo Alto, U.S.)
• Huawei Technologies Co., Ltd. (Shenzhen, China)

Consumer electronics are devices such as computers, refrigerators, laptops, Television sets, and mobile phones. One of the highly penetrated products across every household, they experience a great demand from consumers. Moreover, product innovations by companies backed by the increasing technological advancements are likely to surge the demand for electronic products across the globe. 

What does the Report Provide?

The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate that will further contribute to the market growth in the forthcoming years. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.

DRIVING FACTORS

Increasing Adoption of User-Friendly Devices to Surge Demand

Technological advancements and the availability of high disposable income amongst the working population are leading to the high adoption of smart appliances. The manufacturers are focusing on developing user-friendly products that cater to consumer needs. For instance, a huge demand for smart appliances that offer voice assist, WIFI & Bluetooth connectivity, and faster networks is a driving factor for the considerable growth of consumer electronics.

The rapid-paced industrialization and urbanization has led to the massive development of the residential sector. The rising residential sector is proving to be beneficial for the increasing adoption of electronic products that will favor the global consumer electronics market growth in the forthcoming years.

SEGMENTATION

Electronics Segment to Hold the Largest Market Share

Based on product type, the electronics segment is expected to showcase exponential growth due to the high penetration of consumer electronic devices such as digital cameras, computers, TVs, laptops, and tablets, among others.

REGIONAL INSIGHTS

Presence of Established Players in Asia-Pacific to Augment Growth

Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global market in the forthcoming years. This is attributable to the presence of established players such as Sony, LG, Panasonic, and Samsung that dominate the consumer electronic segment in the region. Asia-Pacific stood at USD 274.00 billion in 2019.

The market in Europe is expected to showcase significant growth backed by the growing demand for smart home appliances in countries such as the U.K., Germany, and France between 2020 and 2027.

Rеаѕоnѕ to Get thіѕ Rероrt:

A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
Data on market value for each section and sub-segment
Indicates the region and market segment that is likely to expand the fastest and dominate the market.
The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

COMPETITIVE LANDSCAPE

Facility Expansion by Prominent Companies to Amplify Their Market Positions

The global consumer electronics market is fragmented by the presence of key players such as LG, Samsung, Sony, and others. These companies hold a dominant share in the consumer electronics segment and strive to maintain their presence by expanding their capacity to cater to the growing consumer demand globally. Moreover, the other major companies focus on maintaining a stronghold by adopting strategies such as partnership, the introduction of new products, and collaboration that will favor market growth.

Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/consumer-electronics-market-104693

Frequently Asked Questions (FAQs):

1. How large is the consumer electronics industry?

Answer: Consumer Electronics Market is projected to reach USD 989.37 Billion by 2027, exhibiting a CAGR of 5.3% between 2020 and 2027.

2. Who leads the consumer electronics industry?

Answer: The dominant players in the industry are large companies such as Samsung Group, LG Electronics Inc., Sony Corp., Panasonic, Koninklijke Philips N.V. are few of the key players in the market.

3. What are the consumer electronics market drivers?

Answer: Increasing Adoption of User-Friendly Devices to Surge Demand

Key Industry Development:

November 2020 - Samsung announced the launch of its new Smart Monitor that functions as a do-it-all screen. The company reports that the device is equipped with mobile and PC connectivity and entertainment Smart Hub features.
Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/consumer-electronics-market-104693

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

9th Floor, Icon Tower,

Baner - Mahalunge Road,

Baner, Pune-411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com 

Fortune Business Insights™

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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