New York, United States, March 14, 2023 (GLOBE NEWSWIRE) — Global Consumer Electronics Market Size to grow from USD 720 billion in 2021 to USD 1000.90 billion in 2030 at a compound annual growth rate (CAGR) of 5% during the forecast period. The growth of the global consumer electronics market can be attributed to an increase in household demand, changing lifestyles of individuals, easier access to credit, and rising disposable incomes. Companies are focusing on developing high-performance and user-friendly devices due to the increasing consumer demand. The rise of technology and digitization is likely to further push the demand for electronic items and household appliances. Asia Pacific is witnessing strong economic growth and high demand due to rapid industrialization, favorable government policies in the region like China, India Malaysia is attracting huge FDI in Asia.
Global economy: Analysis of increasing risk of recession and the conflict war between Russia and Ukraine we have added in the final premium report.
Get a sample PDF brochure: https://www.sphericalinsights.com/request-sample/1490
Consumer electronics are defined as all electronic gadgets with practical use in everyday life. Semiconductor technology is the main type of technology used to power electronic devices. These devices are used for communication, entertainment and convenience in the office and home. The vast majority of goods make use of digital and information technology. A wide variety of electronic items that fulfill one or more tasks in the home or for a specific user are referred to as “consumer electronics”. The term originally referred to electrical equipment installed or used right in a home or other structure. But they now come with laptops and mobile devices, such as a tablet or a phone, that you can carry outside the house. The development of semiconductor technology, which evolved as a result of the technical development, is the main force behind the expansion of the market. The industry is also expected to grow as a result of consumers’ increased use of consumer goods such as smartphones and automated home appliances. The smartphone is predicted to dominate the global consumer electronics market. Increased sales of this device are driven by innovative features created by various smartphone manufacturers. The main demand drivers are expected to be innovation, the introduction of 3G and 4G technologies and technological improvements. The market share of the consumer electronics sector is increasing as a result of several companies creating new features in this area. As countries closed during the outbreak, online sales increased. Consumer electronics demonstrated the same phenomenon. Consumer electronics and home appliances were two of the fastest-expanding online sales sectors globally. Weak economic conditions and lack of energy are expected to limit industrial growth in developing countries.
Browse key industry insights across 210 pages of 123 market data tables and figures and charts from the report “Global Consumer Electronics Market SizeShare and COVID-19 Impact Analysis, by Product (Consumer Electronic Devices, Smart Home Devices and Portable Electronic Devices), by Application (Personal, Professional), by Distribution Channel (Offline, Online), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030″ Get a detailed report description here:
Buy Now Full Report: https://www.sphericalinsights.com/checkout/1490
The Consumer Electronics Devices segment dominates the market with the largest market share during the forecast period.
On the basis of product, the global consumer electronics market is segmented into consumer electronic devices, smart home devices, and portable electronic devices. With the largest market share of these, the consumer electronics devices category is expected to rule the industry. Due to the region’s growing demand for consumer electronics and local government assistance, major market players are introducing new technology.
The personal applications segment is expected to witness the fastest market growth during the forecast period.
Based on application, the global consumer electronics market is segmented into personal and professional. During the projection period, the personal application segment is expected to witness the fastest market growth. Urbanization, improved Internet access and higher wages are all expected to promote growth. Demand for personal consumer electronics, including Bluetooth speakers, earphones, smartphones and smart wearables, is rising as prices fall.
The offline segment holds the largest market share during the forecast period.
On the basis of distribution channel, the global consumer electronics market is segmented into offline, online. Owing to the fact that electronic specialty stores help customers to understand the product features personally, the offline segment of the market is expected to hold the largest market share during the forecast period. Customers will find it easier to compare the items with items from other brands thanks to this.
Before you buy this research report, ask: https://www.sphericalinsights.com/inquiry-before-buying/1490
Asia Pacific holds the largest market share during the forecast period.
The Asia Pacific region will hold the largest market share overall over the projection period. The Asia Pacific region is experiencing rapid industrialization and robust economic expansion. Due to the welcoming government policies of countries such as China and India, there is a significant influx of foreign direct investment into the region. The main companies establish their production facilities as a result of the available and reasonably priced production-related inputs in this region. The production of electrical appliances is increasingly concentrated in China and India. In addition, two of the largest producers of consumer electronics worldwide are Taiwan and South Korea.
The report offers the appropriate analysis of the key organizations/companies involved in the global market along with a comparative evaluation primarily based on their product offerings, company overviews, geographic presence, business strategies, segment market share, and SWOT analysis. The report also provides an in-depth analysis focusing on the current news and developments in the companies, which include product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances and others. This makes it possible to assess the overall competition in the market. Major vendors in the global consumer electronics market share include Apple Inc., Canon Inc., Dell Inc., Samsung Electronics Co., Ltd., Panasonic Corporation, Sony Corporation, Koninklijke Philips NV, 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 SA, OPPO, ZTE Corporation and others.
Get a discount @ https://www.sphericalinsights.com/request-discount/1490
Browse related reports
Global Flexible Heater Market SizeShare and COVID-19 Impact Analysis, by Product Type (Silicon Rubber, Mica, Polyimide, Polyester, Others), by End-Use Industry (Automotive, Electronic & Semiconductor Equipment, Medical Devices, Oil & Gas, Aerospace & Defense, Food & Beverage, Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030
Global Smart Ticket Market SizeShare and COVID-19 impact analysis, by component (hardware, software, service), by product (e-ticket, smart parking system), by system (open payment system, smart card and near field communication (NFC) ), by end use (parking, sports and entertainment , Transportation and Other), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030
Global Ethernet Switch Market SizeShare and COVID-19 Impact Analysis, by Product Type (Modular Ethernet Switches and Fixed Configuration Ethernet Switches (Unmanaged Switches, Smart Switches and Managed L2 and L3 Switches) Switching Ports (100ME and 1GbE, 10GbE, 40GbE and 100GbE), By End User (Data Center, Carrier Ethernet, Enterprise and Campus), By Region ((North America, Europe, Asia Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030
About spherical insight and advice
Spherical insight & Counseling is a market research and consulting firm that provides actionable market research, quantitative forecasting and trend analysis that provides forward-looking insights, specifically designed for decision makers and helps ROI.
Which caters to different industries such as financial sectors, industrial sectors, government organizations, universities, non-profits and companies. The company’s mission is to work with companies to achieve business goals and sustain strategic improvements.
For more information about your target market, please contact us below:
Telephone: +1 303 800 4326 (US)
Phone: +91 90289 24100 (APAC)
Email: firstname.lastname@example.org, email@example.com
Contact us: https://www.sphericalinsights.com/contact-us
Follow us: LinkedIn | Facebook | Twitter