PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1567153
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1567153
Global consumer electronics market is estimated to be valued at USD 736.42 Bn in 2024 and is expected to reach USD 1,146.53 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2023 | Market Size in 2024: | US$ 736.42 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 6.50% | 2031 Value Projection: | US$ 1,146.53 Bn |
Rapid urbanization, rising disposable incomes, evolving lifestyles and growing adoption of smart technologies boosts demand for consumer electronic devices globally. Consumer electronics include devices such as smartphones, laptops, tablets, personal computers, television sets, gaming consoles and other home appliances. Rising technological innovation leads to introduction of newer and more advanced devices, and this drives the market growth.
Global consumer electronics market growth is driven by factors like growing penetration of internet and connectivity, increasing digitization of content and services, and rising preference for smart and multifunctional devices. However, factors such as high costs of innovative devices, supply chain disruptions and economic slowdowns in major markets can hamper the market growth. Growth opportunities lie in expanding e-commerce channels, proliferation of IoT technologies and rising demand for wearable devices.
This report provides in-depth analysis of the global consumer electronics market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global consumer electronics market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Amazon.com, Inc., Apple Inc., Dell Inc., Electrolux AB, Google LLC, Haier Group, Hewlett Packard Enterprise Company, Koninklijke Philips N.V., LG Electronics Inc., Microsoft Corporation, Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics Co., Ltd., Sony Corporation, and Xiaomi Corporation
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global consumer electronics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global consumer electronics market
Detailed Segmentation-