Consumer Electronics to be a US$ 3 Trillion Market by 2020
Rising disposable income among the middle class in China and India is expected to create steady demand for consumer electronics, such as smartphones, tablets, and TVs. Demand in developed markets of North America and Europe will be influenced by technological upgrades to existing models.
Growing internet penetration in developing countries can lead to an increased demand for smartphones, tablets, and laptops. Video on Demand (VoD) and internet-only shows are gaining popularity in Asia Pacific. This is influencing consumers to shift to larger displays, and in turn, boosting tablet, phablets, and laptop sales.
Outside of Asia Pacific, markets in Latin America, Middle East, and Africa will remain lucrative for low-cost consumer electronics. A significant percentage of new sales in these markets will come from rural consumers, many of who are yet to buy their first smartphone.
Obtain Report Details:
Smartphones will Dominate Global Consumer Electronics Revenues
Smartphones will continue to be the highest selling smartphones, with global revenues projected to reach US$ 768 Bn in 2017, up from US$ 544.2 Bn in 2015. Bulk of these smartphone sales will occur in China and India.
China, the largest smartphone market, will continue to witness higher sales of domestic players, as they have a huge cost advantage over their multinational peers. Global smartphone revenues are anticipated to reach US$ 777 Bn in 2017, up from US$ 544.2 Bn in 2015, with a high percentage of sales revenue coming from China and India.
Tablets and digital media adapters are the other segments that are expected to grow at a high rate during the forecast period. In contrast, feature phones, will continue their downward spiral with global revenues decreasing by 5.3% CAGR through 2020.
While Asia Pacific will remain at the forefront of global demand, markets in Latin America and Eastern Europe will grow at high double-digit CAGRs during the forecast period.
Make Enquiry @
The consumer electronics market in North America will grow at 13.2% CAGR, the lowest among all the regions. Middle East & Africa (MEA) currently the smallest market in terms of global revenues, will surpass Japan to become a US$ 200 Bn market by 2020.
Samsung Electronics Co. Ltd., Apple Inc., Hitachi Ltd.HP Inc., Sony Corporation, Panasonic Corporation, LG Electronics Inc., Toshiba Corporation, and Koninklijke Philips N.V. are among the leading players in the global consumer electronics market. The key players are consolidating their position by expanding their operations Asia Pacific.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
Future Market Insights
3rd Floor, 207 Regent Street,
London W1B 3HH
T: + 44 (0) 20 7692 8790
D: +44 (0) 20 3287 4268
This release was published on openPR.
Permanent link to this press release:
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 Consumer Electronics to be a US$ 3 Trillion Market by 2020 here
News-ID: 791108 • Views: 540
More Releases from Future Market Insights
How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring
More Releases for Electronics
Global Inductors Market 2018 -Panasonic, Chilisin Electronics, Delta Electronics
Accord Market, recently published a detailed market research study focused on the “Inductors Market” across the global, regional and country level. The report provides 360° analysis of “Inductors Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Inductors on the basis of this
Automotive Electronics Market -
The global automotive electronics market displays intense competition due to the presence of a large of established companies. Going forward, the competition in the market is likely to further intensify with the influx of new participants. Obtain Brochure For Latest Technology Advancements @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=31742 Majorly fuelling the global automotive electronics market is rising safety considerations among consumers that greatly influence their decision for buying automobiles. Automotive electronics include gadgets and devices
Automotive Electronics Market - Economic Recovery Boosts Europe Automotive Elect …
The global automotive electronics market is gaining from the rising safety considerations that greatly influence consumers’ buying decision for automobiles. Automotive electronics comprise electrically operated systems that are installed in vehicles. Electronic fuel injection, advanced driver assistance, airbag, telematics, and in-car entertainment are some of the areas where automotive electronics are deployed in order to increase the overall efficiency. High-end electronics equip vehicles with navigation, information, and entertainment systems that are
Consumer Electronics in Japan
Summary Consumer electronics saw annual retail volume decline throughout the review period. This was linked to consumers’ economic uncertainty, population decline and an ongoing shift towards smartphones as an all-in-one device. Smartphones are increasingly used to go online, communicate, play media, capture images and read e-books, with many consumers thus ceasing to buy a wide range of consumer electronics. 2016 however saw the softest retail volume decline of the review period,
Consumer Electronics in France
Summary After five consecutive years of volume sales decline, French consumer electronics grew again in both volume and value terms in 2016. OLED TVs and smart wearables were the fastest-growing areas of the market. Compared to previous years, the market’s overall average price level was up as a result of the euro exchange rate and consumers switching to premium for some equipment. Get Sample Report @ http://www.reportbazzar.com/request-sample/?pid=691374&ptitle=Consumer+Electronics+in+France&req=Sample Euromonitor International’s Consumer Electronics in France
Consumer Electronics in Russia
Summary After the collapse of retail volume sales of consumer electronics in 2015, the negative trend continued in 2016. Although prices of oil were partly restored, business investments and the real income of Russians continued to decline, making a fast recovery of Russia’s economy questionable. As a result, consumers in Russia became very cautious when making their purchasing decisions. Despite the strong overall decline in retail volume sales, the performances of