The personal consumer electronics market size is forecast to increase by USD 92.66 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 5.04%, according to a recent market study by Technavio. In a thriving global market, vendors are driving growth through frequent product launches and a relentless focus on innovation. Notably, Samsung Electronics Co. Ltd. unveiled the Bespoke Infinite Line Refrigerator in January 2023, offering refrigerator, freezer, or wine cellar models. This premium built-in refrigerator boasts a timeless modular design, seamlessly integrating into diverse interiors. Similarly, Xiaomi Communications Company Ltd., operating under its Redmi brand, introduced the 75-inch smart TV model in December 2021 in China, subsequently launching in India in Q1 2022. Such continuous innovation aims to captivate consumer interest, bolster sales, and foster market expansion throughout the forecasted period
Such continuous innovation aims to captivate consumer interest, bolster sales, and foster market expansion throughout the forecasted period
Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Technavio has extensively analyzed 15 major vendors, including Apple Inc., Bajaj Electricals Ltd., Dell Technologies Inc., Electrolux AB, Fujitsu Ltd., Havells India Ltd., Hisense International Co. Ltd., Hitachi Ltd., HP Inc., Huawei Technologies Co. Ltd., Koninklijke Philips NV, Lenovo Group Ltd., LG Corp., Micromax Informatics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., Whirlpool Corp., and Xiaomi Communications Co. Ltd.
Key Benefits of Purchasing this Report
Segmentation Analysis
The personal consumer electronics market report extensively covers market segmentation by product type (smartphones, tablets laptops and notebooks, portable devices, digital cameras, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
Analyst Review
The global personal consumer electronics market is witnessing unprecedented growth, driven by factors such as smartphone proliferation, technological advancements, and the widespread adoption of 3G and 4G technologies. In the United States, the consumer electronics landscape is evolving rapidly, with continuous technological developments shaping the market. Smart devices like desktop PCs, phablets, and IoT gadgets are becoming increasingly prevalent, catering to diverse consumer needs.
One notable trend is the rise of fitness bracelets, reflecting the growing emphasis on health and wellness among consumers. Moreover, the availability of these devices is supported by rising consumer disposable income, fueling demand in the bring-your-own-device (BYOD) market. This trend extends to traditional computing devices such as desktops and laptops/notebooks, along with peripherals like hard disk drives and e-readers.
Operating systems like Android and Windows dominate the market, offering consumers a wide range of choices in terms of device compatibility and user experience. In the Asia-Pacific region, sales channels play a crucial role, with sales representatives offering personalized customer service to enhance the shopping experience and foster customer loyalty.
Online shopping platforms have revolutionized the way consumers purchase personal electronics, providing convenience and accessibility. Internet connectivity, facilitated by mobile devices, ensures seamless access to e-commerce platforms, where consumers can benefit from doorstep delivery and hassle-free return policies.
Innovation remains at the forefront of the personal consumer electronics market, driving the introduction of new products such as tablets and laptops that cater to evolving consumer preferences. The competition between iOS and Android ecosystems continues to shape consumer choices, both online and offline.
Offline retail stores also play a significant role, offering consumers the opportunity to experience products firsthand before making a purchase. However, online platforms provide unparalleled convenience, allowing consumers to compare prices and read reviews from the comfort of their homes.
In conclusion, the personal consumer electronics market is characterized by smartphone proliferation, technological advancements, and a growing array of smart devices. With increasing consumer disposable income and the BYOD market on the rise, innovation and convenience are driving forces behind consumer preferences, both online and offline.
Market Overview
The global consumer electronics market is experiencing a transformative phase driven by smartphone proliferation and continuous technological advancements. With the widespread adoption of 3G and 4G technologies, connectivity has become seamless, powering the rise of smart devices and IoT integration. In the U. consumer electronics market, technological developments are shaping consumer preferences towards versatile gadgets like desktop PCs, phablets, and IoT-enabled devices. Phablets, a hybrid of smartphones and tablets, are gaining traction due to their larger displays and enhanced functionalities. As technology evolves, the personal consumer electronics market continues to expand, offering consumers a diverse range of innovative products tailored to their ever-changing needs and preferences
As technology evolves, the personal consumer electronics market continues to expand, offering consumers a diverse range of innovative products tailored to their ever-changing needs and preferences
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Table of Contents
1 Executive Summary2 Landscape3 Sizing4 Historic Size5 Five Forces Analysis6 Segmentations7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Vendor Landscape11 Vendor Analysis12 Appendix
About USTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios
This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected] Website: www.technavio.com
SOURCE Technavio
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