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Consumer Electronics E-Commerce Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Consumer Electronics E-Commerce Market Size
As per the report, the consumer electronics e-commerce market size has grown rapidly in recent years. It will grow from $614.98 billion in 2023 to $701.08 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The consumer electronics e-commerce market size is expected to see rapid growth in the next few years. It will grow to $1154.09 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%.
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Rise Of Online Shopping Drives The Consumer Electronics E-Commerce Market
Consumers are shifting from offline to online shopping, and this factor is the key driving factor in the consumer electronics e-commerce market. Globally, nearly 53% of the global population (more than 4 billion people) is connected to the internet, and nearly all of them (92.6%) go online using their mobile devices. Internet connectivity has presented an opportunity for hassle-free shopping anytime, anywhere. Internet accessibility, mobile technology, and digital innovations are changing consumers' shopping experiences. With customers' trust in buying high-value products, including electronics, on the Internet, the number of online shoppers is skyrocketing. Therefore, with the increased penetration of online shopping in consumers' lives, the value of the electronics e-commerce market is expected to only rise but not slow down.
Transforming Online Shopping With Augmented Reality
Augmented reality (AR) technology enhances the online shopping experience. Online shoppersty (AR) technology enhances the online shopping experience. Online shoppers' uncertainty about a product they wish to purchase online is solved with AR technology. AR solutions allow customers to visualize products in real-time, from the comfort of their homes. The 3D visualizations via AR provide an opportunity for customers to see how products could look in their space before they commit to purchasing them. They can try different options and choose the best product. It reduces the inconvenience due to the return or exchange of products and saves time and the cost of returns. AR helps online retailers significantly reduce returns by providing a 'try-before-you-buy' digital experience. For example, Augment is an augmented reality tool that allows customers to view a product in real-time. Augment helps customers to rotate and see products so that they can be visualized in a natural setting. Also, customers can change the product colors and finishes.
The consumer electronics e-commerce market covered in this report is segmented -
1) By Product: Video Products, Audio Products, Other Products
2) By Business Model: Business To Business (B2B), Business To Consumer (B2C)
3) By Pricing Model: Low Cost Products, Medium Cost Products, High End Products
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Major companies operating in the consumer electronics e-commerce market include Alibaba Group Holding Limited, Amazon.com Inc., JD.com Inc., eBay Inc., Shopify Inc., Rakuten Inc., Walmart Inc., Newegg Inc., Target Corporation, Flipkart Internet Private Limited, Best Buy Co. Inc., Apple Inc., B&H Foto & Electronics Corp., Crutchfield Corporation, GameStop Corp., P.C. Richard & Son Inc., Adorama Inc., Abt Electronics Inc., Overstock.com Inc., CDW Corporation, BuyDig.com LLC, HSN Inc., QVC Inc., Monoprice Inc.
Contents of the report:
1. Executive Summary
2. Consumer Electronics E-Commerce Market Report Structure
3. Consumer Electronics E-Commerce Market Trends And Strategies
4. Consumer Electronics E-Commerce Market - Macro Economic Scenario
5. Consumer Electronics E-Commerce Market Size And Growth
…..
27. Consumer Electronics E-Commerce Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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