Consumer Electronics Market Size, Share, Growth Report, Forecast, 2032 | Companies- Samsung Group, LG Electronics Inc., Sony Corp & Others

The global consumer electronics market size was valued at USD 738.75 billion in 2022. The market is anticipated to expand from USD 773.40 billion in 2023 to USD 1,239.40 billion by 2030, exhibiting a CAGR of 6.97% over the study period. The surge is driven by the increasing consumer demand and rising focus of industry players on the development of convenient-to-use and high-performing devices. This information is provided by Fortune Business Insights™ in its research report, titled "Consumer Electronics Market, 2023-2030".

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

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:

▶ Samsung Group (South Korea)
▶ LG Electronics Inc. (South Korea)
▶ Sony Corp. (Japan)
▶ Panasonic (Japan)
▶ Koninklijke Philips N.V. (Netherlands)
▶ Whirlpool Corp. (U.S.)
▶ AB Electrolux (Sweden)
▶ Apple Inc. (U.S.)
▶ HP Inc. (U.S.)
▶ Huawei Technologies Co., Ltd. (China)

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Electronic Devices Segment to Gain Traction Impelled by Soaring Household Penetration

By product type, the market for consumer electronics is subdivided into home appliances and electronic devices. The electronic devices segment is estimated to grow at a substantial pace over the estimated period. The expansion is driven by the rising launch of new products designed for specific applications.

Offline Segment to Depict Substantial Upsurge Owing to Rising Purchase Convenience

On the basis of distribution channel, the market is fragmented into online and offline. The offline segment is anticipated to register appreciable expansion throughout the projected period. The rise is impelled by the purchase convenience of comparing and choosing from a wide range of brands in person.

Based on geography, the market for consumer electronics is fragmented into Asia Pacific, North America, Europe, South America, and the Middle East & Africa.

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞:

The report gives a comprehensive analysis of the pivotal trends propelling the global business landscape throughout the forecast period. It also provides an insight into the major factors impelling the industry expansion over the ensuing years. These data have been provided after in-depth research and analysis of the market trends and the steps undertaken by prominent industry participants.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞- https://www.fortunebusinessinsights.com/enquiry/get-a-quote/consumer-electronics-market-104693

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬:

Market Growth to be Propelled by Expanding Residential Sector

One of the key factors impelling consumer electronics market growth is being propelled by the rising inclusion of smart devices in households. Companies are keen to introduce a series of products catering to the requirements of modern households.

However, the lower penetration of the market in less-developed countries on account of lack of access to electricity may hamper industry growth to a considerable extent.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

Asia Pacific to Emerge as Key Region Owing to Presence of Major Players

Asia Pacific consumer electronics market share is poised to record substantial expansion over the analysis period. The expansion is driven by the strong presence of major companies such as Sony, Samsung, LG, and Panasonic in countries such as Korea, China, and Japan. The North America market is anticipated to depict appreciable growth throughout the forecast period. The surge is impelled by the escalating demand for wearables, speakers, and monitors.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

Pivotal Companies Enter Collaborations to Expand Geographical Footprint

Major companies are entering partnership initiatives and collaborations to strengthen their market positions. These steps are also being undertaken for the expansion of their geographical footprints. Additional initiatives include merger agreements, partnerships, and others.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐮𝐦𝐦𝐚𝐫𝐲: https://www.fortunebusinessinsights.com/consumer-electronics-market-104693

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:

January 2023 - HP Inc., announced new solutions and products at CES 2023. These products were designed to recharge hybrid experiences allowing people to thrive in the digital era.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬-

Refrigerator Market- https://www.fortunebusinessinsights.com/refrigerator-market-102686
Washing Machine Market- https://www.fortunebusinessinsights.com/washing-machine-market-102645
Toaster Market- https://www.fortunebusinessinsights.com/toaster-market-103851
Kitchen Appliances Market- https://www.fortunebusinessinsights.com/kitchen-appliances-market-104504

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This release was published on openPR.