The global consumer electronics market is estimated to expand at a expanding at 5.6% CAGR, total revenue is anticipated to reach US$ 17 Bn by 2031
“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.
The segment for consumer electronics devices is further broken down into the following sub-segments: smartphone, feature phone, tablet, smart TV, other TV, set-top box, personal computer, digital camcorder & camera, digital media adapter, digital video recorder (DVR), game console, printer, and other consumer electronics device.
With a market share of over 25%, the smartphone sub-segment outperformed all the others in terms of revenue contribution to the consumer electronics device segment.
Additionally, the sub-segment for smartphones is predicted to have the fastest CAGR of over 20%. However, due to consumers switching from feature phones to smartphones, the feature phone sub-segment is likely to experience negative CAGR throughout the projected period. Tablets and smartphones have emerged as competitive alternatives to game consoles, putting a strain on the game console sub-segment.
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The smart home device segment is further divided into smart kitchen appliance and security & HVAC system, while the wearable device segment includes smart accessory and other wearable devices.
The consumer electronics market is divided into seven regions, including North America, Latin America, Western and Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, the Middle East and Africa (MEA), and North America. APEJ and North America dominated all other regions, accounting for more than 40% of the global consumer electronics market in 2014.
Furthermore, the APEJ consumer electronics market is anticipated to experience the fastest CAGR during the forecast period.
In terms of revenue CAGR, Eastern Europe and Latin America are the other appealing regional markets. This expansion is credited to rising disposable income and
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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