Consumer Electronics Market by Products (Desktops, Digital Cameras, E-readers), Sales Channel (Offline, Online), End-User - Global Forecast 2024-2030

Consumer Electronics Market by Products (Desktops, Digital Cameras, E-readers), Sales Channel (Offline, Online), End-User - Global Forecast 2024-2030

The Consumer Electronics Market size was estimated at USD 1.09 trillion in 2023 and expected to reach USD 1.16 trillion in 2024, at a CAGR 6.65% to reach USD 1.71 trillion by 2030.

Consumer electronics are devices aimed at personal and household use for entertainment, communications, and home-office activities, such as smartphones, tablets, televisions, laptops, and gaming consoles, which are pivotal in day-to-day life by bolstering convenience, communication, entertainment, and productivity. Technological advancements such as AI, IoT, and 5G have significantly boosted device capabilities, fueling consumer demand alongside shifts towards increasingly digital lifestyles and the rise in remote work. Moreover, emerging economies present expansive opportunities due to rising purchasing power and accelerating digital adoption. However, market challenges include vulnerability to global supply chain disruptions, and environmental concerns related to electronic waste, particularly in developing markets. Furthermore, the sector brims with enhanced AR and VR technologies, particularly in gaming and interactive media, offering vast potential for new product introduction. Incorporating health monitoring features in consumer electronics, such as wearable devices that track fitness and vital signs, are expected to create opportunities for consumer electronics market.

Regional Insights

In the Americas, mainly the United States, Canada, Brazil, and Argentina, there is an increasing demand for consumer electronics driven by high disposable incomes and a penchant for cutting-edge technologies. Due to the enhanced integration of IoT and AI to improve usability and functionality, people tend to use more smart home devices, wearables, and smart TVs in their personal and commercial spaces. European Union countries focus strongly on energy efficiency and data privacy in consumer electronics. Initiatives across these countries aim to standardize electronic components, responding to a consumer base increasingly inclined towards sustainable and interoperable tech solutions. In the Middle East, youthful demographics favor luxury and high-tech electronics, showing interest in investments in smart city projects that integrate sophisticated consumer electronics frameworks. Africa's market is spurred by the rising demand for mobile devices, with key strategies targeting increased Internet access and affordable pricing to cater to its cost-conscious consumers. Countries such as China, India, and Japan channel significant investments into AI and 5G technologies to bolster a wide-ranging production of mobile and electronic accessories for domestic and international markets. Local markets are favored in these regions by initiatives such as Make in India and Product Linked Incentives.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Consumer Electronics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Continuous increase in the penetration of smartphones and tablets
Expansion of the consumer electronics in health and fitness applications
Increased demand for smart home devices

Market Restraints

Product compatibility and integration issues in consumer electronics

Market Opportunities

Advancements in artificial intelligence and IoT integration into the consumer electronics
Proliferation of the high investments for manufacturing consumer electronics

Market Challenges

Prevalence of counterfeit electronics

Market Segmentation Analysis

Products: Incorporation of new technologies associated with chips for their enhanced performance and efficiency
End-User: Emerging use of electronics in the commercial sector owing to the integration of technology with existing business processes

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Consumer Electronics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Consumer Electronics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Acer Group Expands into Consumer Electronics with New Range of TVs, Air and Water Purifiers

Acer Group announced its entry into the consumer electronics market with an array of new products, including televisions, air purifiers, and water purifiers. This strategic move marks the company's diversification from its traditional focus on computing devices, aiming to capture a broader consumer base. Acer's foray into this segment underscores its commitment to innovation and adapting to evolving market trends, positioning itself as a comprehensive smart home solutions provider.

ONIO and Exeger Partner to Revolutionize IoT with Sustainable Energy Solutions

ONIO and Exeger entered a strategic partnership to transform the Internet of Things (IoT) landscape by integrating sustainable energy solutions. This collaboration leverages Exeger's advanced solar cell technology to create self-powered IoT devices, addressing the growing demand for energy-efficient, long-lasting battery life in consumer electronics. The partnership emphasizes a commitment to sustainability and technological advancement, positioning ONIO and Exeger at the forefront of the evolving IoT ecosystem.

Emerge and Sony Electronics Collaborate to Introduce Multi-Sensory Communication to Smart TVs

Emerge partnered with Sony Electronics to integrate its multi-sensory communication platform into Sony's smart TVs, enhancing the viewer experience. This partnership aims to bring more immersive and interactive features to home entertainment, allowing users to engage with content through multiple senses. The collaboration leverages Emerge's innovative technology and Sony's market-leading television hardware to offer a unique and enriched viewing experience.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Consumer Electronics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Consumer Electronics Market, highlighting leading vendors and their innovative profiles. These include Alphabet Inc., Apple Inc., Bajaj Electricals Ltd., Dell Inc., Fujitsu Limited, Haier Group Corporation, Hitachi, Ltd., HP Development Company, L.P., Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, Koninklijke Philips N.V., LG Electronics Inc., Microsoft Corporation, Midea Group Co. Ltd., Panasonic Holdings Corporation, Robert Bosch GmbH, Samsung Electronics Co Ltd, Sony Corporation, Toshiba Corporation, Whirlpool Corporation, and Xiaomi Singapore Pte. Ltd.

Market Segmentation & Coverage

This research report categorizes the Consumer Electronics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Products
Desktops
Digital Cameras
E-readers
Hard Disk Drives
Laptops/Notebooks
Smartphones
Tablets
Sales Channel
Offline
Online
End-User
Commercial Use
Personal or Residential Use
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year