Consumer Electronics Market Expecting an Outstanding Growth Till 2026

With connectivity and IoT on the horizon, Consumer Electronics Market share is slated to witness a notable spike in the ensuing period. Tremendous explosion of data and advent of AI and voice assistants are playing an invaluable role in the market penetration of smart consumer electronics. Getting to the technology frontier will be one of the major focus of the forward-looking manufacturers.

Robust technologies are bringing a paradigm shift in the way end-markets communicate, connect and exchange information. Some of the factors such as easier access, rising awareness and changing lifestyle have remained instrumental in fueling consumer electronics market revenue. Industry players are counting on energy efficiency, competitive strategies, expanding luxury landscape and favorable administrative policies.

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Global Market Insights, Inc., has projected consumer electronics market size to surpass US$ 1,500 billion by 2026.

 

With increased affordability, small household appliances are gaining traction among millennial households. Expanding palpability for appliances including, including microwaves, food processors, iron boxes and hair dryers is touted to boost the business outlook.

 

Trend for audio and video equipment is likely to snowball even further, with gadgets of the future becoming multifunctional. For instance, a TV may be used as a photo frame, while refrigerator will be used to book a taxi. TVs have evolved and will provide a seamless customer experience with exceptional viewing experience, being in line with “smart electronic products.”

Streamlining customer experience will be voice assistants which are incorporated in televisions, refrigerators and other tools. The whole idea of connectivity and consumer electronics products will hover around IoT, AI and VR, indicating robust growth of audio and video equipment.

 

The U.S. is witnessing a notable spike in connected TVs, refrigerators and smartphones, thereby making the proposition of electronics products highly compelling in North America. Moreover, leading companies in refrigerator portfolio are developing features such as minimal display ice dispenser and recessed handles.

 

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State-of-the-art consumer electronics are slated to gain traction in personal and professional applications. With growing penetration of smart homes and smart office buildings, smart consumer electronics will gain impetus in North America.

 

A spike in smart city projects in Saudi Arabia, UAE, South Africa has augured well for stakeholders vying to expand their footprints in untapped areas of Middle East and Africa. Moreover, rising role of products and services which are compatible with the IoT platform is likely to trigger growth of electronics in the region. Simply put, digitization has enabled the end-users to seamlessly control and monitor via a single app.

 

In a bid to stay ahead of the competitors, key players are expected to ramp up and introduce efficient and green technologies, reduce running costs and redesign product offerings, thereby keeping in line with sustainability.

 

Leading companies in the industry are placing emphasis on product roll outs and product innovations. For instance, Dell Technologies announced the roll out of new PCs and digital displays embedded with 5G technology.  Some of the major players profiled in the report are Microsoft Corporation, Samsung Electronics Co. Ltd., Siemens AG, Panasonic Corporation, Sony Corporation, among several others.

 

Browse key industry insights spread across 325 pages with 395 market data tables and 52 figures & charts from the report, Consumer Electronics Market in detail along with the table of contents:

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Report Content

Chapter 3.   Industry Insights

3.1.  Industry segmentation

3.2.  Impact of COVID-19 on consumer electronics industry landscape

3.2.1. Global outlook

3.2.2. Regional impact

3.2.2.1.    North America

3.2.2.2.    Europe

3.2.2.3.    Asia Pacific

3.2.2.4.    Latin America

3.2.2.5.    MEA

3.2.3. Industry value chain

3.2.3.1.    Research & development

3.2.3.2.    Manufacturing

3.2.3.3.    Marketing

3.2.3.4.    Supply

3.2.4. Competitive landscape

3.2.4.1.    Strategy

3.2.4.2.    Distribution network

3.2.4.3.    Business growth

3.3.  Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. Technology providers

3.3.3. Manufacturers

3.3.4. End use landscape

3.3.5. Distribution channel analysis

3.3.5.1.    Direct selling

3.3.5.2.    Independent authorized distributors and resellers

3.3.5.3.    Online channel

3.3.6. Vendor matrix

3.4.  Technology & innovation landscape

3.5.  Regulatory landscape

3.5.1. North America

3.5.1.1.    Consumer Product Safety Act

3.5.1.2.    Federal Hazardous Substances Act (FHSA)

3.5.1.3.    Energy Star

3.5.2. Europe

3.5.2.1.    EMC Directive

3.5.2.2.    Eco-design Directive

3.5.2.3.    EU 517/2014

3.5.2.4.    The Federal Law 'On Personal Data' No. 152-FZ

3.5.2.5.    Information Protection Act No. 149

3.5.2.6.    Regulation No. 781

3.5.2.7.    Rules of sale of goods by remote method, No. 612

3.5.2.8.    Protection of rights of consumers, No. 2300-1

3.5.3. Asia Pacific

3.5.3.1.    Electricity act of 1994

3.5.3.2.    Waste Electrical and Electronic Equipment Directive (2002/96/EC)

3.5.4. Latin America

3.5.5. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    Audio & Video Equipment

3.6.1.1.1.    Advanced technologies in earphones & headphones

3.6.1.1.2.    Rising demand for technologically advanced large sized TVs

3.6.1.1.3.    Increasing consumer disposable income and spending capacity

3.6.1.1.4.    Growing penetration of smartphones

3.6.1.2.    Household appliances/equipment

3.6.1.2.1.    Stringent energy efficiency regulations in North America

3.6.1.2.2.    Government initiatives for replacement of obsolete products in Europe

3.6.1.2.3.    Growing demand for modern consumer electronics in Asia Pacific

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Rising unemployment rates in several countries across the globe

3.6.2.2.    High availability of counterfeit products

3.7.  Growth potential analysis

3.8.  Porter's analysis

3.8.1. Supplier power

3.8.2. Buyer power

3.8.3. Threat of new entrants

3.8.4. Threat of substitutes

3.8.5. Internal rivalry

3.9.  PESTEL analysis

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