by The consumer electronics market size exceeded 724.48 billion in 2021 and is projected to reach US$ 1.13 trillion by 2030, growing at a CAGR of 5.1% every year, according to a 2021 study by Precedence Research, the Canada-based market Insight Company.
The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2022 to 2030. The consumer electronics market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).
The surging demand for the various home improvement products and electronic devices for the personal and professional use is driving the demand for the consumer electronics across the globe. The rising disposable income, higher demand for the luxury products, technological developments, and improvement in the standard of living are some of the prominent factors that drive the growth of the global consumer electronics market.
Furthermore, the miniaturization of the electronic devices is gaining rapid traction among the consumers across the globe. Furthermore, the manufacturers are focusing on the development of convenient and easy to use electronic devices and are investing heavily on the research and development for the introduction of new and innovative features in their products.
For instance, in August 2020, Samsung introduced its new AI-based washing machine that helps the user to customize washing cycles. The presence of the numerous manufacturers and the easy availability of all the brands is a prominent factor that drives the sales of the market.
Consumer Electronics Market Scope
| Report Coverage | Details |
| Market Size by 2030 | USD 1.13 trillion |
| Growth Rate from 2022 to 2030 | CAGR of 5.1% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
Consumer Electronics Market Highlights
- Based on the product, the smartphone segment dominated the global consumer electronics market. This is attributed to the increased product acceptance and the introduction of numerous innovative features in the smartphones overtime. The presence of multi-functions in the smartphones has significantly boosted the demand for the smartphones among the consumers for personal as well as professional use.
- Based on the distribution, the online is estimated to be the most opportunistic segment. The surging penetration of the e-commerce, rising access to internet, growing urban population, and rising adoption of smartphones are the major factors that drives the growth of the online distribution segment. According to the ITU, around 4 billion people had access to the internet in 2019 and this number is rapidly growing across the globe.
Consumer Electronics Market: Regional Snapshot
North America dominated the global consumer electronics market in 2020. This is simply attributed to the various factors such as high disposable income, huge demand for the high-end products, increased adoption rate of the latest technologies, presence of several leading manufacturers of the electronics, and the high standards of living. The latest advancements in the various electronic products is expected to drive the growth of the North America consumer electronics market in the forthcoming years.
Asia Pacific is the fastest-growing market. The presence of huge customer base, rising disposable income, rising penetration of the e-commerce, and cheap availability of various electronic gadgets. The countries like China and Taiwan specializes in the production of numerous consumer electronics at low cost.
Asia Pacific is the manufacturing hub of the globe. The presence of skilled labors at cheap rates and easy availability of raw materials attracts FDIs. The rapid industrialization has played a significant role in the market growth. Moreover, the increasing penetration of the credit cards is expected to drive the demand and sale of the consumer electronic products in Asia Pacific during the forecast period.
Consumer Electronics Market Dynamics
Driver
Growing demand for the home appliances
The demand for the advanced home appliances is growing at a significant rate. The rising consumer expenditure in the modular kitchens and home improvement products is significantly propelling the market growth. Moreover, the easy availability of the desired products through the e-commerce is a major factor that is expected to drive the market growth during the forecast period.
Read Also: B2C E-Commerce Market Size to Hit Around US$ 7.45 Trn By 2030
Restraint
Shortages of semiconductors
The globe is currently witnessing a huge shortage of semiconductors. Semiconductors are the major components of almost all the electronic devices across the globe. The huge gap between the demand and supply of the semiconductors may result in the high prices of the semiconductors and also leading to the production cuts of the major manufacturers. Therefore, the shortages of semiconductor across the globe is a major hindering factor.
Opportunity
Introduction of latest technologies
The proliferation of digital technologies has encouraged the integration of the latest technologies such as AI, cloud computing, Wi-Fi, augmented realty, and virtual reality in a wider range of consumer electronics. These advancements are expected to offer huge growth opportunities to the market players.
Challenge
Lack of electrification
There is a lack of electricity in the rural areas of the developing and underdeveloped countries. Therefore, the lack of electrification is restricting the adoption of the advanced consumer electronic products that may hinder the market growth.
Some of the prominent players in the global consumer electronics market include:
- Apple Inc.
- Canon Inc.
- Dell Inc.
- Samsung Electronics Co., Ltd.
- Panasonic Corporation
- Sony Corporation
- Koninklijke Philips N.V.
- Lenovo Inc.
- Hewlett-Packard Company
- Oneplus
- AB Electrolux
- LG Corporation
- Google Inc.
- Microsoft Corporation
- Hitachi Ltd.
- Robert Bosch GmbH
- Sennheiser Electronics
- Siemens AG Logitech International S.A.
- OPPO
- ZTE Corporation
Segments Covered in the Report
By Product
- Smartphones
- Desktops
- Tablets
- Laptops & Notebooks
- Digital Cameras
- eReaders
- HDD
- Television
- Refrigerators
- Washing machine
- Air Conditioners
- Others
By Distribution Channel
- Online
- Offline
By Application
- Personal
- Professional
By Technology
- Near Field Communication (NFC)
- Magnetic Secure Transmission (MST)
- Artificial Intelligence
- VR (Virtual Reality) Technology
- Generation PCL Technology
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Consumer Electronics Market
5.1. COVID-19 Landscape: Consumer Electronics Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Consumer Electronics Market, By Product
8.1. Consumer Electronics Market, by Product Type, 2022-2030
8.1.1. Smartphones
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Desktops
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Tablets
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Laptops & Notebooks
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Digital Cameras
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. eReaders
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. HDD
8.1.7.1. Market Revenue and Forecast (2017-2030)
8.1.8. Television
8.1.8.1. Market Revenue and Forecast (2017-2030)
8.1.9. Refrigerators
8.1.9.1. Market Revenue and Forecast (2017-2030)
8.1.10. Washing machine
8.1.10.1. Market Revenue and Forecast (2017-2030)
8.1.11. Air Conditioners
8.1.11.1. Market Revenue and Forecast (2017-2030)
8.1.12. Others
8.1.12.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Consumer Electronics Market, By Distribution Channel
9.1. Consumer Electronics Market, by Distribution Channel, 2022-2030
9.1.1. Online
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Offline
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Consumer Electronics Market, By Application Type
10.1. Consumer Electronics Market, by Application Type, 2022-2030
10.1.1. Personal
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Professional
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Consumer Electronics Market, By Technology Type
11.1. Consumer Electronics Market, by Technology Type, 2022-2030
11.1.1. Near Field Communication (NFC)
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Magnetic Secure Transmission (MST)
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. Artificial Intelligence
11.1.3.1. Market Revenue and Forecast (2017-2030)
11.1.4. VR (Virtual Reality) Technology
11.1.4.1. Market Revenue and Forecast (2017-2030)
11.1.5. Generation PCL Technology
11.1.5.1. Market Revenue and Forecast (2017-2030)
11.1.6. Others
11.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Consumer Electronics Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.1.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.1.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.1.5.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.1.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.1.6.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.1.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.2.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.2.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.2.5.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.2.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.2.6.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.2.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.2.7.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.2.7.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.2.8.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.2.8.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.3.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.3.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.3.5.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.3.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.3.6.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.3.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.3.7.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.3.7.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.3.8.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.3.8.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.4.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.4.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.4.5.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.4.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.4.6.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.4.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.4.7.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.4.7.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.4.8.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.4.8.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.5.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.5.5.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.5.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
12.5.6.3. Market Revenue and Forecast, by Application Type (2017-2030)
12.5.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)
Chapter 13. Company Profiles
13.1. Apple Inc.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Canon Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Dell Inc.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Samsung Electronics Co., Ltd.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Panasonic Corporation
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Sony Corporation
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Koninklijke Philips N.V.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Lenovo Inc.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Hewlett-Packard Company
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Oneplus
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
13.11. AB Electrolux
13.11.1. Company Overview
13.11.2. Product Offerings
13.11.3. Financial Performance
13.11.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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Frequently Asked Questions:
[sc_fs_multi_faq headline-0=”h6″ question-0=”What is the current size of consumer electronics market?” answer-0=”According to Precedence Research, the global consumer electronics market size was reached at US$ 724.48 billion in 2021 and is anticipated to surpass US$ 1.13 trillion by 2030. ” image-0=”” headline-1=”h6″ question-1=”What will be the CAGR of global consumer electronics market?” answer-1=”The global consumer electronics market is expected to drive growth at a CAGR of 5.1% over the forecast period 2022 to 2030. ” image-1=”” headline-2=”h6″ question-2=”Who are the major players operating in the consumer electronics market?” answer-2=”The major players operating in the consumer electronics market are Apple Inc., Canon Inc., Dell Inc., Samsung Electronics Co., Ltd., Panasonic Corporation, Sony Corporation, Koninklijke Philips N.V., Lenovo Inc., Hewlett-Packard Company, and Oneplus. ” image-2=”” headline-3=”h6″ question-3=”Which are the driving factors of the consumer electronics market?” answer-3=”The surging demand for the various home improvement products and electronic devices for the personal and professional use is driving the demand for the consumer electronics across the globe. ” image-3=”” headline-4=”h6″ question-4=”Which region will lead the global consumer electronics market?” answer-4=”North America dominated the global consumer electronics market in 2021 and will remains its dominance over the forecast period. ” image-4=”” count=”5″ html=”true” css_class=””]
