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Consumer Electronics Market Growth, Size, Opportunities & Competitive Analysis By Type (Consumer Electronic Device, Wearable Device), By Consumer Electronic Device (Smartphone, Feature Phone, Tablet, Smart TV, Other TV, Personal Computer, Set-Top Box, Digital Camcorder & Camera, Digital Media Adapter, Printer, Game Console, Others), By Wearable Device (Smart Accessory, Other Wearable Device) and Forecast 2016 – 2028

Name: Consumer Electronics Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2022-07-16
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Consumer Electronics Market

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What is the Global Shipment of Consumer Electronics?

In terms of volume, demand for Consumer Electronics in 2021 is expected to be more than 2.1 Billion units which is expected to grow over the forecast period. The consumer electronics sector, which is among the most rapidly expanding and dynamic sectors, is still showing no signs of slowing down in terms of sales or innovation. The home entertainment boom caused by the pandemic and the growing digital transformation are two recent events that have pushed the business. Mobile retail shops have grown in number at the same time that online shoppers have. In the upcoming years, it is anticipated that this phenomenon “m-commerce,” would grow significantly.

What is the Market Size of Consumer Electronics in term of value?

Global Consumer Electronics Market is projected to increase at a significant CAGR of 5.1% in the coming years. In 2021, the global consumer electronics market was valued at USD 681.5 Billion and is projected to reach at value of USD 918.5 Billion by 2028. The demand for consumer electronics is projected to increase substantially in the coming years and is presumed to generate revenue opportunity for the key industry players that worth USD 237 Billion during the forecast period between 2022 and 2028.

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How Research & Development Will Pave Way for Consumer Electronics Installation?

In order to promote advancements in current electronic technologies and processes with the purpose of increasing efficiency and lowering cost, some of the top firms in the consumer electronics market are investing extensively in research and development efforts. One such example is Apple, Inc., which, through intensive research and development, has elevated itself to a competitive position in the market.

Consumer electronics’ sector growth will be fuelled by ongoing R&D expenditures made by market participants for the creation of new products with improved features. For instance, R&D expenses at Philips totalled USD 506.14 million in the first quarter of 2021. Through its innovation 2025 transformation programme, Philips makes major investments in R&D and innovation. Customer electronics will expand as a result of aggressive R&D spending and geographic development to fulfil rising consumer needs.

Interesting Facts about Consumer Electronics Industry

The top 5 countries for consumer electronics exports are China, India, United States, U.K, and Germany
In 2021, the personal segment had the most demand, accounting for more than 68 percent of the market.
Due to consumers’ increased ability to spend on discretionary goods as a result of rising income, the personal application segment is predicted to rise at a 9 percent annual pace by 2028.
The industry need for these electronics is being driven by the decline in price of personal consumer electronics including Bluetooth speakers, earbuds, smartphones, and smart wearables.
In the upcoming years, the Asia Pacific market is anticipated to grow rapidly, led by China and then India. Canada’s market is expected to grow in North America at a CAGR of 6.7 percent, closely followed by the U.S.

Who are the Top 10 players/companies in consumer electronics market in term of value and volume?

The key players in the global consumer electronics market in terms of value and volume include Apple Inc., Canon Inc., Dell Inc., Samsung Electronics Co., Ltd., Panasonic Corporation, Sony Corporation, Koninklijke Philips N.V., Lenovo Inc., Hewlett-Packard Company, Oneplus, AB Electrolux, LG Corporation, Google Inc., Microsoft Corporation, Hitachi Ltd., Robert Bosch GmbH, Sennheiser Electronics, Siemens AG Logitech International S.A., OPPO, and ZTE Corporation.

The implementation of business tactics like mergers and acquisitions and geographic expansion is a priority for the major companies in the global consumer electronics market. Additionally, market participants are concentrated on product creation and improvement to acquire an edge over rivals in the rivalry.

At CES (Consumer Electronics Show), Samsung Electronics will introduce micro-LED lifestyle TVs in 2022 this development will provide improvements in picture and sound quality, a wider range of screen sizes, reversible accessories, and an improved user interface.

In order to expand their sales footprint, Samsung Electronics has developed multiple Samsung research Global AI centres in nations such as America, Russia, Canada, the United Kingdom, and others. The launch of 8K OLED models, NanoCell TVs, and OLED GX Gallery TVs in September, 2020, were all announced by the South Korean electronics manufacturer LG Electronics Co. Ltd.

Who are the Top 10 Countries in the Consumer Electronics Market?

In the global consumer electronics market, the major countries are China, India, the U.S., Canada, Japan, France, Russia, Germany, Spain, and U.K. The United States International Trade Commission reports that between 2019 and 2020, imports of electronic devices from China increased by US$ 25.2 billion, representing the biggest percentage growth.

According to the ICEA, India may produce 1,250 million handsets across various categories by 2025, igniting an industry worth around US$ 230 billion, if it expands its ambition beyond India reaching the dominant position in the global market.

According to the UK government, there are more than 12,000 enterprises in the country’s electronics sector, and it is expanding fast. This is a sign that suggests increased sales for producers of consumer electronics in the foreseeable future.

By making large investments in Germany, players are concentrating on improving their business operations. Companies in the consumer electronics sector are making investments or working together with other businesses in their primary industries or related business sectors to advance R&D.

Which is the Leading Product in the Consumer Electronics Market?

With over 2,000 million new units sold, the audio and video equipment segment controlled more than 60% of the market in 2021. The demand for audio and video equipment will increase as smartphones proliferate and smart homes become more popular. The adoption of audio and video equipment will be pushed by the incorporation of modern technologies such improved connectivity, voice assistant-enabled control, and speech recognition.

Consumers may easily operate their home appliances with a voice command thanks to voice assistants like Google Home, Siri, and Alexa. A strong market outlook will result from the integration of consumer devices with voice assistant technology, such as speakers and earphones. The sector is also driven by various consumer electronics businesses launching new products and upgrading existing products to improve the user experience.

What are the Major Driving Factors for Consumer Electronics Market?

As new technologies are created, the consumer electronics sector continues to develop and innovate. The internet of things, 5G connectivity, artificial intelligence, and parallel worlds like the Metaverse are a few of these advancements. All of these developments will have an impact on the market and help to change customer needs and behaviour. Consumers anticipate more functions in the same size or even less than that with each new gadget generation. Due to the popularity of minimalism, smaller designs with more functionality are becoming more and more popular.

Millennial interest in smart wearable technology is growing quickly. Millennials have effectively attracted their interest with additional features like tracking health and fitness, tracking location, and sending notifications through wearables like smartwatches. These elements suggest that the use of smart wearable gadgets will rise positively during the future years.

What are the Restraints for Consumer Electronics Market?

The availability of counterfeit goods and short product lifecycles present serious obstacles to market expansion. Consumers are being encouraged to acquire new gadgets equipped with the newest technology by the continuously evolving technological landscape. Consumer gadgets including smartphones, computers, cameras, and televisions have experienced a sharp decline in their product lifecycle as a result, which has restrained market demand.

Digital photography equipment has come under serious threat from the introduction of new smartphones with numerous cameras and high-resolution displays. Additionally, the cost and complexity of operating digital photography equipment discourages young people from purchasing it.

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Which Region Dominated the World Consumer Electronics Market?

In 2021, the consumer electronics market in Asia Pacific capture more than 35% of market share. Consumer electronics use is increasing among high- and middle-income households in the area as a result of growing urbanisation and rising disposable income. The growth of the regional economy will be fuelled by the introduction of new local manufacturers and the adoption of cheap pricing techniques by various manufacturers. The demand in this market is also being fuelled by the youth population’s growing technological awareness of new electronics.

Prominent market leaders are launching new product in this region owing to the growing demand for consumer electronics and assistance from local governments. For instance, as part of the Make in India initiative, Samsung said in October 2020 that it would establish a TV manufacturing facility in India by the end of the year. On order to increase output and expand the manufacturing facility, it also invested USD 670 million in the facility that makes smartphone displays.

Segmentation of Global Consumer Electronics Market-

By Type

Consumer Electronic Device
Wearable Device

By Consumer Electronic Device

Smartphone, Feature Phone
Tablet
Smart TV
Other TV
Personal Computer
Set-Top Box
Digital Camcorder & Camera
Digital Media Adapter
Printer
Game Console
Others

By Wearable Device

Smart Accessory
Other Wearable Device

By Region

North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- France
- The U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africaa

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Consumer Electronics Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Consumer Electronics Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Type
3.3.2. Application
3.3.3. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Top 6 Players
4.3. Top 3 Players
4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis
5.1. Global Consumer Electronics Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Consumer Electronics Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Consumer Electronics Market, by Type, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Audio & video equipment
6.2.3. Major household appliance
6.2.4. Small household appliance
6.2.5. Digital photo equipment
6.2.6. Others
6.3. North America Consumer Electronics Market, by Application, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Personal
6.3.3. Professional
6.3.4. Others

7. Europe
7.1. Europe Consumer Electronics Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Consumer Electronics Market, by Type, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Audio & video equipment
7.2.3. Major household appliance
7.2.4. Small household appliance
7.2.5. Digital photo equipment
7.2.6. Others
7.3. Europe Consumer Electronics Market, by Application, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Personal
7.3.3. Professional
7.3.4. Others

8. Asia Pacific
8.1. Asia Pacific Consumer Electronics Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Consumer Electronics Market, by Type, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. Audio & video equipment
8.2.3. Major household appliance
8.2.4. Small household appliance
8.2.5. Digital photo equipment
8.2.6. Others
8.3. Asia Pacific Consumer Electronics Market, by Application, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. Personal
8.3.3. Professional
8.3.4. Others

9. Latin America
9.1. Latin America Consumer Electronics Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Consumer Electronics Market, by Type, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. Audio & video equipment
9.2.3. Major household appliance
9.2.4. Small household appliance
9.2.5. Digital photo equipment
9.2.6. Others
9.3. Latin America Consumer Electronics Market, by Application, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. Personal
9.3.3. Professional
9.3.4. Others

10. Middle East
10.1. Middle East Consumer Electronics Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Consumer Electronics Market, by Type, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. Audio & video equipment
10.2.3. Major household appliance
10.2.4. Small household appliance
10.2.5. Digital photo equipment
10.2.6. Others
10.3. Middle East Consumer Electronics Market, by Application, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. Personal
10.3.3. Professional
10.3.4. Others

11. Africa
11.1. Africa Consumer Electronics Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Consumer Electronics Market, by Type, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. Audio & video equipment
11.2.3. Major household appliance
11.2.4. Small household appliance
11.2.5. Digital photo equipment
11.2.6. Others
11.3. Africa Consumer Electronics Market, by Application, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. Personal
11.3.3. Professional
11.3.4. Others

12. Global
12.1. Global Consumer Electronics Market, by Type, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Audio & video equipment
12.1.3. Major household appliance
12.1.4. Small household appliance
12.1.5. Digital photo equipment
12.1.6. Others
12.2. Global Consumer Electronics Market, by Application, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Personal
12.2.3. Professional
12.2.4. Others

13. Company Profiles
13.1. Apple Inc.
13.2. Canon Inc.
13.3. Dell Inc.
13.4. Samsung Electronics Co., Ltd.
13.5. Panasonic Corporation
13.6. Sony Corporation
13.7. Koninklijke Philips N.V.
13.8. Lenovo Inc.
13.9. Hewlett-Packard Company
13.10. Oneplus
13.11. AB Electrolux
13.12. LG Corporation
13.13. Google Inc.
13.14. Microsoft Corporation
13.15. Hitachi Ltd.
13.16. Robert Bosch GmbH
13.17. Sennheiser Electronics
13.18. Siemens AG
13.19. Logitech International S.A
13.20. OPPO
13.21. ZTE Corporation
13.22. Others

List of Figures

FIG. 1 Global Consumer Electronics Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Consumer Electronics Market Segmentation
FIG. 4 Global Consumer Electronics Market, by Type, 2019 (US$ Bn)
FIG. 5 Global Consumer Electronics Market, by Application, 2021 (US$ Bn)
FIG. 6 Global Consumer Electronics Market, by Geography, 2021 (US$ Bn)
FIG. 7 Attractive Investment Proposition, by Geography, 2021
FIG. 8 Global Market Positioning of Key Consumer Electronics Market Manufacturers, 2019
FIG. 9 Global Consumer Electronics Market Value Contribution, By Type, 2021 & 2028 (Value %)
FIG. 10 Global Consumer Electronics Market, by Audio & video equipment, Value, 2016-2028 (US$ Bn)
FIG. 11 Global Consumer Electronics Market, by Major household appliance, Value, 2016-2028 (US$ Bn)
FIG. 12 Global Consumer Electronics Market, by Small household appliance, Value, 2016-2028 (US$ Bn)
FIG. 13 Global Consumer Electronics Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 14 Global Consumer Electronics Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 15 Global Consumer Electronics Market, by Personal, Value, 2016-2028 (US$ Bn)
FIG. 16 Global Consumer Electronics Market, by Professional, Value, 2016-2028 (US$ Bn)
FIG. 17 U.S. Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 18 Rest of North America Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 19 U.K. Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 20 Germany Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 21 France Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 22 Italy Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 23 Spain Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 24 Russia Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 25 BENELUX Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 26 Poland Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 27 Austria Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 28 Rest of Europe Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 29 Japan Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 30 China Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 31 India Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 32 South Korea Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 33 Australia Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 34 Southeast Asia Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 35 Rest of Asia Pacific Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 36 Middle East & Africa Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 37 South Africa Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 38 Nigeria Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 39 Egypt Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 40 GCC Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 41 Israel Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 42 Latin America Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 43 Mechanicalzil Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 44 Argentina Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 45 Colombia Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 46 Peru Consumer Electronics Market, 2016-2028 (US$ Bn)
FIG. 47 Chile Consumer Electronics Market, 2016-2028 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Consumer Electronics Market
TABLE 2 Global Consumer Electronics Market, by Type, 2016-2028 (US$ Bn)
TABLE 3 Global Consumer Electronics Market, by Application, 2016-2028 (US$ Bn)
TABLE 4 Global Consumer Electronics Market, by Geography, 2016-2028 (US$ Bn)
TABLE 5 North America Consumer Electronics Market, by Type, 2016-2028 (US$ Bn)
TABLE 6 North America Consumer Electronics Market, by Application, 2016-2028 (US$ Bn)
TABLE 7 North America Consumer Electronics Market, by Country, 2016-2028 (US$ Bn)
TABLE 8 Europe Consumer Electronics Market, by Type, 2016-2028 (US$ Bn)
TABLE 9 Europe Consumer Electronics Market, by Application, 2016-2028 (US$ Bn)
TABLE 10 Europe Consumer Electronics Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 11 Asia Pacific Consumer Electronics Market, by Type, 2016-2028 (US$ Bn)
TABLE 12 Asia Pacific Consumer Electronics Market, by Application, 2016-2028 (US$ Bn)
TABLE 13 Asia Pacific Consumer Electronics Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 14 Latin America Consumer Electronics Market, by Type, 2016-2028 (US$ Bn)
TABLE 15 Latin America Consumer Electronics Market, by Application, 2016-2028 (US$ Bn)
TABLE 16 Latin America Consumer Electronics Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17 Middle East Consumer Electronics Market, by Type, 2016-2028 (US$ Bn)
TABLE 18 Middle East Consumer Electronics Market, by Application, 2016-2028 (US$ Bn)
TABLE 19 Middle East Consumer Electronics Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 20 Africa Consumer Electronics Market, by Type, 2016-2028 (US$ Bn)
TABLE 21 Africa Consumer Electronics Market, by Application, 2016-2028 (US$ Bn)
TABLE 22 Africa Consumer Electronics Market, by Country/Region, 2016-2028 (US$ Bn)

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Frequently Asked Questions

What will be the market size of consumer electronics market by 2028?

The market for consumer electronics would top USD 918.5 Billion by the end of 2028, growing at CAGR of 5.1% during forecast period

Which is the leading market for consumer electronics?

Asia Pacific accounted for the highest share in the global consumer electronics market in terms of value as well as volume.

What are the key drivers for the growth of the consumer electronics market?

Smart and technology products are becoming more and more popular, which has significantly increased demand globally. Consumer demand is being fuelled by new releases and innovative products.

Which is the major segment in Consumer Electronics Market by Product Type?

In 2021, the Audio & video equipment category had the biggest revenue share of more than 60 percent, and the consumer electronics market is predicted to grow at the fastest rate from 2021 to 2028.

Which is the major segment in Consumer Electronics Market by Application?

In 2021, the personal segment accounted for more than 68 percent of total revenue, and it is likely to continue to dominate the consumer electronics market during the forecast period.

About Author

Sushant Phapale

ICT & Automation Expert

Sushant is an expert in ICT, automation, and electronics with a passion for innovation and market trends.

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