Consumer Electronics Market Size to Grow at a CAGR of 5.1% in the Following 5 Years | Valuates Reports
BANGALORE, India, Aug. 16, 2022 /PRNewswire/ -- The Global Consumer Electronics Market is Segmented by Type (Television Sets, Video Players, Recorders, Videocams, Audio Equipment, Mobile Telephones, Computers, Portable Devices), by Application (Personal, Professional) : Opportunity Analysis and Industry Forecast, 2022–2028.
The global consumer-electronics market size is USD 850 Billion in 2021 and is projected to have a CAGR of 5.1% in the following five years.
Major Factors Driving the Growth of the Consumer Electronics Market:
The rising home automation trends, favorable government policies, and COVID-19 impact will fuel the market's growth.
Extensive R&D initiatives by key players will drive the demand for the market during the forecast period.
Get Your Sample Today:
https://reports.valuates.com/request/sample/QYRE-Auto-26P3708/Global_Personal_Consumer_Electronics
TRENDS INFLUENCING THE GROWTH OF THE GLOBAL CONSUMER ELECTRONICS MARKET
The increasing penetration of smartphones and the integration of advanced features have augmented the need for audio and video equipment. Consumers are shifting toward smart homes due to convenience and the rise in disposable income. Improved connectivity, voice-enabled control, and speech recognition have enabled consumers to control home appliances through simple voice commands. This will bolster the growth of the consumer electronic market in the coming years. The proliferation of smart home devices and the growing home automation trend has led to the explosion of devices that are available online. Phones, tablets, window blinds, lights, and wall outlets all interact with each other just at the swipe of a screen.
Several government authorities are making efforts to promote the growth of electronic products. Many initiatives are being undertaken to integrate modern technologies such as 5G, IoT, AI, and machine learning in electrical equipment. This will push the growth of the consumer electronics market. Increasing investments are being undertaken to boost domestic electronic manufacturing hubs.
The onset of the pandemic, work from home, and the shift towards e-learning have surged the demand for laptops, tablets, and PCs. The COVID fuelled home entertainment boom and rising digitization has resulted in increased production of electronics. This will surge the growth of the global consumer electronics market. Global access to the internet has drastically improved the number of products manufactured and sold. Products that were earlier purchased in-store are now being bought online just at the click of a button.
Leading players are actively investing in research and development initiatives to improve the efficiency of electronic technology and cut costs. This will drive the expansion of the consumer electronics market in the forthcoming years. Multi-pricing strategies and specific product launches are being introduced to attract various segments of consumers.
Browse The Table Of Contents And List Of Figures At:
https://reports.valuates.com/market-reports/QYRE-Auto-26P3708/global-personal-consumer-electronics
CONSUMER ELECTRONICS MARKET SHARE ANALYSIS
Based on type, the mobile telephones segment will grow the highest in the consumer electronics market share due to the rapid expansion of the telecom infrastructure, rising income levels, numerous product launches, and the introduction of budget-friendly smartphones.
Based on application, the personal segment will witness considerable growth opportunities due to falling prices of personal electronic items and rising spending on products like Bluetooth speakers, smartphones, earphones, wearables, etc.
Based on region, Asia-Pacific will be the most lucrative in the consumer electronics market share due to growing technological awareness amongst the younger population, supportive government policies for electronics manufacturing and rapidly spreading industrialization. Newer players are emerging with low pricing strategies to attract a large population base.
Get Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-26P3708/Global_Personal_Consumer_Electronics
Key Companies:
- Apple
- AB Electrolux
- Bose
- Canon
- Dell
- General Electric
- Haier
- HP
- Huawei
- LG
- Nikon
- Philips
- Samsung
- Sennheiser
- Sonos
- Sony
- Xiaomi
- ZTE
Inquire for Chapter Cost:
https://reports.valuates.com/request/chaptercost/QYRE-Auto-26P3708/Global_Personal_Consumer_Electronics
Buy Now for Single User + COVID-19 Impact:
https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-26P3708&lic=single-user
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
SIMILAR REPORTS:
- Global Audio Equipment Market Insights and Forecast to 2028
- Global Mobile Phones Market Insights and Forecast to 2028
- Global Mini Computers Market Insights, Forecast to 2028
- The global power electronics market size was valued at USD 23.25 Billion in 2019 and is expected to reach USD 36.64 Billion by 2027, growing at a CAGR of 5.7% from 2020 to 2027.
- The global mobile phone accessories market size was valued at USD 224.69 Billion in 2018, and is projected to reach at USD 284.06 Billion by 2026, growing at a CAGR of 3.1% from 2019 to 2026.
- In 2020, the global Bluetooth Headphones market size was USD 18760 Million and it is expected to reach USD 41110 Million by the end of 2027, with a CAGR of 11.7% during 2021-2027.
- The global Printed Electronics market was valued at USD 2386.5 Million in 2020 and it is expected to reach USD 5428.4 Million by the end of 2027, growing at a CAGR of 12.5% during 2021-2027.
- Global PCB (Printed Circuit Board) Market Insights and Forecast to 2028
- Global Electronic Special Germane (GeH4) Market Outlook 2022
- In 2020, the global NAND Flash market size was USD 18480 Million and it is expected to reach USD 74330 Million by the end of 2027, with a CAGR of 22.0% during 2021-2027.
- Global PCB Waste Services Market Insights and Forecast to 2028
- Due to the COVID-19 pandemic, the global Set-Top-Box market size is estimated to be worth USD 23630 Million in 2022 and is forecast to a readjusted size of USD 26300 Million by 2028 with a CAGR of 1.8% during the review period.
- The global Audio CODEC market size was valued at USD 11.44 Billion in 2019, and is projected to reach USD 14.12 Billion by 2027, registering a CAGR of 4.1% from 2020 to 2027.
- The global Chip Mounter market size is estimated to be worth USD 4387.1 Million in 2022 and is projected to reach USD 5531.9 Million by 2028 with a CAGR of 3.9% during the review period.
- The global Lithium-Ion Battery Separator market size is estimated to be worth USD 3808.9 Million in 2022 and is forecast to be a readjusted size of USD 6565.8 Million by 2028 with a CAGR of 9.5% during the review period.
- The global lithium-ion battery market was valued at USD 36.7 Billion in 2019 and is projected to hit USD 129.3 Billion by 2027 at a CAGR of 18.0% from 2020 to 2027.
- The global Zinc-Air Batteries market size is estimated to be worth USD 418.9 Million in 2022 and is forecast to a readjusted size of USD 607.8 Million by 2028 with a CAGR of 6.4% during the review period.
- The global AR and VR Lens market size is estimated to be worth US$ 441.8 million in 2022 and is forecast to a readjusted size of US$ 1006 million by 2028 with a CAGR of 14.7% during the review period.
- The global Test and Measurement Equipment market was valued at USD 10810 Million in 2020 and it is expected to reach USD 16400 Million by the end of 2027, growing at a CAGR of 6.8% during 2021-2027.
- Due to the COVID-19 pandemic, the global Gaming Headset market size is estimated to be worth USD 2343.5 Million in 2022 and is forecast to a readjusted size of USD 3616.6 Million by 2028 with a CAGR of 7.5% during the review period.
- The global Gaming Laptop market was valued at USD 10860 Million in 2020 and it is expected to reach USD 16190 Million by the end of 2027, growing at a CAGR of 5.9% during 2021-2027.
- The global Surface Inspection market size is projected to reach USD 3050.3 Million by 2028, from USD 2236.8 Million in 2021, at a CAGR of 4.5% during 2022-2028.
- The global Fiber Optics market size is projected to reach USD 15630 Million by 2027, from USD 9247 Million in 2020, at a CAGR of 7.8% during 2021-2027.
- Global Video Equipment Market Insights and Forecast to 2028
- The global speech recognition market size was valued at USD 6.39 Billion in 2018, and is projected to reach USD 29.28 Billion by 2026, registering a CAGR of 19.9% from 2019 to 2026.
- Global Digital Voice Assistants Market Insights and Forecast to 2028
- The intelligent virtual assistant market size was valued at USD 3,442 Billion in 2019, and is projected to reach USD 44,255 Billion by 2027, growing at a CAGR of 37.7% from 2020 to 2027.
- The global Digital Transformation market size is projected to reach USD 886.9 Million by 2027, from USD 377 Million in 2020, at a CAGR of 13.0% during 2021-2027.
ABOUT US:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
CONTACT US:
Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website - https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
SOURCE Valuates Reports
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article