Consumer Electronics Market

Market Snapshot

The consumer electronics industry analysis by Persistence Market Research has predicted the market to evolve at a positive CAGR of 8.7% over the decade. Analysts have estimated the current market worth at US$ 863 Bn, which is anticipated to rise 1.4X by the end of 2031. The U.K. market for consumer electronics is expected to account for 35% of the market share in the European region.

Key Points Covered in Consumer Electronics Industry Survey:

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, country-wise, and region-wise analysis
• Competition mapping and benchmarking
• Brand share and market share analysis
• Key product innovations and regulatory climate
• COVID-19 impact on consumer electronics sales and how to navigate
• Recommendation on key winning strategies

Major Demand in Indian Market

Increasing popularity of smart and technological devices has led to substantial increase in demand across regions. New launches and innovative products are also fueling demand among consumers. Consumer spending is rising as a result of more disposable income and increasing standard of living. All of these factors have greatly benefited the consumer electronics industry.

India is a major market for consumer electronics; its growing population and rising disposable income make it a perfect market for any consumer product. Many companies are trying to cash in the revenue potential from the country and are making major advances in this direction.

• Noise, an Indian brand, recently announced its partnership with Optiemus Electronics Limited (OEL) to make custom-made electronic gadgets for Indian consumers. Initially, OEL will be manufacturing hearable products for Noise. Manufacturing is expected to be started at two OEL advanced facilities at Noida. The move is not only aimed at expanding production capacity but also to increase jobs in the nation, as both the firms involved are India-based.
• Blaupunkt, a German-based audio video consumer electronics brand has announced the launch of its brand new 4k resolution 50-inch Android Smart TV model with Indian TV manufacturer Super Plastronics Pvt Ltd (SPPL). The product is exclusively available on Flipkart from 6th August 2021. Blaupunkt is aiming to capitalize on the potential of the Indian market as its earlier series have received phenomenal response from consumers.

Market Overview

This Persistence Market Research report examines the global consumer electronics market for the period 2021–2031. The primary objective of the report is to offer updates and information related to market opportunities in the global consumer electronics market and provide insights into developments impacting global businesses and enterprises.

Market Segmentation

The global consumer electronics market is segmented on the basis of device type, into electronic device, wearable device, and smart home device.

This report covers the global consumer electronics market performance in terms of revenue contribution from various segments and includes a detailed analysis of key trends, drivers, restraints, and opportunities influencing revenue growth of the global consumer electronics market.

Analysis of Drivers and Restraints

Impact analysis of key growth drivers and restraints based on the weighted average model are included in this report to better equip clients with useful decision-making insights. The global consumer electronics market report begins with an overview of the market and key definitions.

The subsequent sections evaluate the present scenario and future growth prospects of the global consumer electronics market on the basis of device type and geographical region, and provide a comprehensive market forecast for the next ten years. The report provides a market outlook for 2021–2031 and sets the forecast within the context of the global consumer electronics market.

By Geography

The study further analyzes the extent to which drivers are influencing the market across the key assessed regions of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

In the final section of the report, a competitive market landscape has been included to provide report audiences with a dashboard view of key players operating in the global consumer electronics market, along with an analysis of company-specific long-term and short-term strategies, key offerings, and recent developments in the global consumer electronics market.

Top Players

Top market companies profiled in the report include Apple Inc., Sony Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., HP Inc., Panasonic Corporation and Hitachi Ltd., and Toshiba Corporation. Our report also provides key strategic recommendations for both existing and new players in the global consumer electronics market to emerge sustainably profitable.