SELBYVILLE, Del., Aug. 13, 2020 /PRNewswire/ -- According to the latest report "Consumer Electronics Market by Product (Audio & Video Equipment [Personal, Professional], Major Household Appliance, Small Household Appliance, Digital Photo Equipment [Personal, Professional]), Application, Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of consumer electronics will cross $1.5 trillion by 2026.
The small household appliances segment in the consumer electronics market is expected to register substantial growth during the forecast timeline, owing to its gradually declining costs. Appliances, such as food processors, microwaves, hairdryers, and iron boxes, are available at affordable price points and abundant varieties, contributing to their growing sales in the market. The decline in sales of digital cameras due to the introduction of smartphones with advanced cameras is hampering the digital photo equipment market.
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The North American consumer electronics market is anticipated to grow rapidly through 2026 on account of a technologically sound population quickly adopting advanced technologies. Countries in the region are projected to witness increasing demand for advanced consumer electronics in personal and professional applications. The amplifying trends of smart office buildings and smart homes are also contributing to the rising market size of smart consumer electronics.
A few notable companies operating in the consumer electronics market include Apple, Inc., Samsung Electronics Co. Ltd., Panasonic Corporation, Siemens AG, AB Electrolux, Oneplus, Microsoft Corporation, Dell, Inc., and Sony Corporation. Industry players are focusing on product innovations and strategic launch of new products to increase their market shares and revenues. For instance, in January 2020, Dell Technologies announced the launch of new PCs and digital displays integrated with advanced 5G technology. The built-in AI functionality in these devices will further enhance user experience.
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Some major findings in the consumer electronics market report include:
- Growing market of audio & video equipment is driven by increasing consumer disposable income across the globe. Rapidly decreasing prices of electronic devices and home appliances are also contributing to the market growth.
- Introduction of advanced technologies, such as IoT, AI, and voice assistants, have led to a high growth in demand for smart consumer electronics. The advent of OLED and micro-LED technologies is positively influencing the display and TV industry.
- Increasing investments in the development of smart cities and smart homes in the MEA and Latin America are proliferating the adoption of technologically advanced household appliances in these regions.
Table of Contents (ToC) of the report:
Chapter 3. Consumer Electronics Market Insights
3.1. Industry segmentation
3.2. Impact of COVID-19 on consumer electronics industry landscape
3.2.1. Global outlook
3.2.2. Regional impact
184.108.40.206. North America
220.127.116.11. Asia Pacific
18.104.22.168. Latin America
3.2.3. Industry value chain
22.214.171.124. Research & development
3.2.4. Competitive landscape
126.96.36.199. Distribution network
188.8.131.52. Business growth
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Technology providers
3.3.4. End use landscape
3.3.5. Distribution channel analysis
184.108.40.206. Direct selling
220.127.116.11. Independent authorized distributors and resellers
18.104.22.168. Online channel
3.3.6. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.2. Industry pitfalls & challenges
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. PESTEL analysis
Browse the Complete Table of Contents (ToC) at:
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Global Consumer Electronics Market growth predicted at 7% through 2026: GMI
The North American consumer electronics market is anticipated to grow rapidly through 2026 on account of a technologically sound population quickly adopting advanced technologies
SOURCE Global Market Insights, Inc.