Growing demand for energy efficient appliances followed by the increasing requirement for replacement of older electric household appliances is expected to have a positive impact on the consumer electronics market growth. Rapid industrialization, technological advancements and reducing prices of the air conditioner technology is anticipated to spur the demand for room air conditioners. Split air conditioners will witness a significant demand due to the ease of installation, higher energy efficiency and varying building infrastructures.
Consumer Electronics Market is expected to exceed USD 1,500 billion by 2024. Rising popularity of OLED and 4K televisions followed by the declining prices of these devices across various regions is expected to drive the consumer electronics market over the forecast timeline. In addition, with the growing replacement rate of traditional televisions with newer ones, adoption is expected to increase over the years. The launch of televisions with new and advanced features such as built-in Wi-Fi & internet connectivity, ultra-high resolution & color contrast, Dolby vision and Dolby Atmos to deliver outstanding picture and sound quality, further contributes to the industry demand.
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Rapid fall in mobile data rates coupled with the integration of cutting-edge features such as powerful imaging systems, high resolution displays and fingerprint scanners in smartphones is anticipated to catapult the consumer electronics market growth. The smartphone industry is currently witnessing a gradual decline in prices resulting in increasing number of users worldwide. Rising disposable income of the middle-class population across the emerging economies is providing significant growth opportunities to the consumer electronics market growth.
Increasing use of tablets with enhanced capabilities for performing less-intensive tasks is resulting in the slow growth of laptops. For most of the users, laptop is not considered to be a high priority device, which resulted in lower upgrades and replacement rates. Declining demand across the major economies is posing significant threat to the audio & video equipment industry, further limiting the consumer electronics market growth.
Increasing prominence of advanced and wireless technologies is expected to drive the personal consumer electronics market segment growth. Emerging trend of smart and IoT connected devices, such as smart refrigerators and TVs, having remote, app-based control and sensing capabilities is causing an increasing number of consumers to replace traditional equipment with smart devices. Globalization and fast industrialization in the Asian economies such as China, India and Japan help in increasing the income level of working class, further contributing to the industry growth.
North America consumer electronics market is anticipated to witness substantial growth during the forecast timeframe owing to large-scale technological advancements. The region is fast adopter and developer of new technologies such as 5G technology for smartphone users. Consumer spending on high-end electronics in the region is due to the high disposable income and low consumer debt, allowing an increasing number of consumers to incorporate these technologies as a part of their daily lives.
Key players in the consumer electronics market consist of Apple, Samsung Electronics, General Electric, Bose, Sony Corporation, AB Electrolux, Haier, LG Electronics, Huawei, Philips, Canon, GoPro, Nikon and Sennheiser. The industry is characterized by intense competition owing to the presence of large number of international and regional players in the marketplace. The strong hold of major players in the industry poses strong barriers for the new entrants.
Charts & Figures
FIG 1 Industry segmentation
FIG 2 Global consumer electronics market, 2013- 2024 (USD Million)
FIG 3 Industry ecosystem analysis
FIG 4 Mobile phone users by country (Million Users)
FIG 5 Growth potential analysis
FIG 6 Porter’s analysis
FIG 7 Smartphone company market share, 2016
FIG 8 Laptop company market share, 2016
FIG 9 TV company market share, 2016
FIG 10 Speaker company market share, 2016
FIG 11 Earphones & headphones company market share, 2016
FIG 12 Household electronics company market share, 2016
FIG 13 Digital camera company market share, 2016
FIG 14 Digital camcorder company market share, 2016
FIG 15 PESTEL analysis
FIG 16 Consumer electronics market share, by product, 2016 & 2024
FIG 17 Consumer electronics market share, by application, 2016 & 2024
FIG 18 Consumer electronics market share by region, 2016 & 2024
FIG 19 AB Electrolux. regional revenue, 2016
FIG 20 SWOT Analysis, AB Electrolux
FIG 21 SWOT Analysis, Acer, Inc.
FIG 22 Apple, Inc. segment revenue, 2016
FIG 23 Apple, Inc. regional revenue, 2016
FIG 24 SWOT Analysis Apple Inc.
FIG 25 SWOT Analysis Best Buy Co., Ltd.
FIG 26 SWOT Analysis Bose Corporation
FIG 27 SWOT Analysis, Canon, Inc.
FIG 28 SWOT Analysis, David Clarke
FIG 29 SWOT Analysis, Dell Inc.
FIG 30 SWOT Analysis, Fujifilm Corporation
FIG 31 SWOT Analysis Fujitsu
FIG 32 General Electric. regional revenue, 2016
FIG 33 SWOT Analysis, General Electric
FIG 34 SWOT Analysis Gionee Communication Equipment Co., Ltd.
FIG 35 SWOT Analysis Google Inc.
FIG 36 SWOT Analysis, GoPro, Inc.
FIG 37 SWOT Analysis, Haier
FIG 38 SWOT Analysis, Hisense Kelon Electrical Holdings Co., Ltd.
FIG 39 SWOT Analysis, Hitachi
FIG 40 SWOT Analysis, Hewlett-Packard Company
FIG 41 SWOT Analysis, Huawei Technologies
FIG 42 SWOT Analysis, iON Worldwide LLC
FIG 43 SWOT Analysis, JVCKenwood Corporation
FIG 44 Philips Corporation, segment-wise revenue, 2016
FIG 45 SWOT Analysis, Koninklijke Philips N.V.
FIG 46 SWOT Analysis, Lenovo Inc.
FIG 47 Logitech International SA regional revenue
FIG 48 SWOT Analysis, Logitech
FIG 49 SWOT Analysis, LG Electronics
FIG 50 SWOT Analysis Meizu Telecom Equipment Co., Ltd.
FIG 51 SWOT Analysis, Microsoft Corporation
FIG 52 SWOT Analysis, Micro-Star International Co., Ltd.
FIG 53 SWOT Analysis, Nikon Corporation
FIG 54 SWOT Analysis, Olympus Corporation
FIG 55 SWOT Analysis, Oneplus
FIG 56 SWOT Analysis, OPPO
FIG 57 SWOT Analysis, Panasonic Corporation
FIG 58 SWOT Analysis, Bosch
FIG 59 Samsung Electronics regional revenue, 2016
FIG 60 SWOT Analysis, Samsung
FIG 61 SWOT Analysis, Sharp Corporation
FIG 62 Sennheiser Electronic Turnover by Region
FIG 63 SWOT Analysis, Sennheiser
FIG 64 SWOT Analysis Sonos
FIG 65 SWOT Analysis, Siemens
FIG 66 SWOT Analysis, Skyworth
FIG 67 Sony Corporation segment sales, 2016
FIG 68 Sony Corporation regional sales, 2016
FIG 69 SWOT Analysis Sony Corporation
FIG 70 SWOT Analysis, TCL Corporation.
FIG 71 SWOT Analysis, Toshiba Corporation
FIG 72 SWOT Analysis, Vivo Communication Technology Co. Ltd.
FIG 73 SWOT Analysis, Walton Group
FIG 74 SWOT Analysis, Whirlpool
FIG 75 SWOT Analysis, ZTE Corporation
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