Transparency Market Research has published a report on the global consumer electronics market. According to the report, the global consumer electronics market stood at US$1,074.56 bn in 2013 and is predicted to be valued at US$1,550.34 bn by 2022. The report, titled ‘Consumer Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022’, states that the global consumer electronics market is predicted to expand at a 4.0% CAGR during the period from 2014 to 2022.
Consumer
electronics include numerous devices that are used for office work,
entertainment, and communications. Personal computers, notebooks,
digital cameras, smartphones, tablets, laptops, radios, MP3 players,
calculators, audio players, personal care devices, and camcorders are
some of the commonly used consumer electronics. Factors such as
increasing disposable income, reduced prices of consumer electronic
devices, and improved standard of living are responsible for the
growth of the global consumer electronics devices in the recent past.
Technical advancements and availability of a wide variety of products
are expected to propel the global consumer electronics devices market
in the years to come.
The
global consumer electronics market is segmented on the basis of
geography, product type, and end-use application. By product type,
the global consumer electronics market was dominated by the handheld
devices segment in 2014. In terms of revenue, the handheld devices
segment is expected to maintain its dominant position during the
forecast period. Smartphones equipped with technically advanced
features eliminate the need for other products such as laptops, MP3
audio players, gaming devices, GPS navigators, standstill cameras,
alarm clocks, and landline phones. The audio/video segment is
predicted to develop at a rapid pace in coming few years. The
introduction of wireless technology in audio devices is boosting the
growth prospects of the audio/video segment.Based on geography, the
global consumer electronics market is divided into the Middle East
and Africa, North America, Europe, Latin America, and Asia Pacific.
Some
of the prominent players operating in the global consumer electronics
market are Samsung Electronics Co. Ltd., LG Corporation, Canon, Inc.,
Koninklijke Philips N.V., Dell, Inc., Hewlett-Packard Company, Sony
Corporation, Apple, Inc., Nikon Corporation, and Panasonic
Corporation. Demand for innovative connected television sets is
expected to be the major driver of the global consumer electronics
market in the years to come. Decreasing prices of tablets and
smartphones are also predicted to propel the global consumer
electronics market further. Based on end-use application, the global
consumer electronics market is classified into commercial and
residential segments. The residential segment dominated the global
consumer electronics market in 2014. Increasing demand for smart
devices is expected to propel the residential segment during the
forecast period.
However,
the commercial segment is also predicted to witness remarkable growth
due to factors such as the growing demand for display screens and
big-sized TV sets in the commercial sectors, and display of
advertisements on smart devices. The commercial segment is highly
competitive, as some of the new entrants are expected to give tough
competition to the leading players. Availability of all electronic
smart devices in online stores is another factor responsible for the
rapid development of the global consumer electronics market.
Key
Segments of Global Consumer Electronics Market
Consumer
Electronics Market, by Product Type
Televisions
Handheld
Devices
Personal
Computers
Cameras
and Camcorders
Audio/Video
Devices
Personal
Care Products
Gaming
Consoles
Consumer Electronics Market, By End-Use Application
Residential
Commercial
Global Consumer Electronics Market, By Geography
North
America
Europe
Asia
Pacific
Middle-East
and Africa
Latin
America
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