The consumer electronics market is projected to be valued at US$ 3,296.66 million in 2023. The report anticipates a valuatio of US$ 5,820.65 million by 2033. Consumer electronics sales are expected to record a CAGR of 5.80% during the forecast period.
Consumer Electronics Market Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Consumer Electronics Market Estimated Size in 2023 | US$ 3,296.66 million |
| Projected Market Value in 2033 | US$ 5,820.65 million |
| Value-based CAGR from 2023 to 2033 | 5.80% |
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The consumer electronics industry is quite dynamic in nature as trends come and go at a faster pace. The market players have consistently found different ways to innovate with new functionalities and features in the past years.
The availability of devices stimulating the automation of daily chores drastically changed consumers’ preferences from general single-purpose electronic products to multi-functional smart devices. Consumer electronics manufacturing companies flourished on the surge in demand for various wearable, smart home, and other consumer electronic devices.
The rise in requirement for smart accessories, smart home devices, and others coupled with the increase in environmental awareness, is encouraging the adoption of energy-efficient products that guarantee more performance efficiency in cost-effective ways. The global consumer electronics market to expand at a CAGR of 5.80% through 2033.
| Market Value in 2022 | US$ 3,137.25 million |
|---|---|
| Market Value in 2023 | US$ 3,296.66 million |
Principal Consultant
| The United States | 4.10% |
|---|---|
| Germany | 2.80% |
| The United Kingdom | 3.40% |
| India | 8.10% |
| China | 8.30% |
The United States is the world’s second-largest consumer electronics market and is set to remain in that position throughout the forecast period. The adoption of connected smart technologies like home appliances, wearable devices, and other electronics has significantly facilitated growth in the regional demand for consumer electronics products. The United States to account for a CAGR of 4.10% by the end of 2023
High disposable incomes, a tech-savvy population, and a strong demand for the latest gadgets drive the consumer electronics markets in the country. Smartphones, laptops, and smart home devices have a significant market share. There's a growing interest in 5G technology, smart speakers, and streaming service. Sustainability and eco-friendly products are gaining traction.
The United States invests more in software and AI research. Technological giants such as Google, Microsoft, and IBM are investing huge amounts in futuristic AI technology. Lastly, advanced sensory technology is also likely to transform consumer electronic devices during the forecast period.
Realizing innovation as a key growth factor, regional associations organize trade shows and expos. For instance, CTA (Consumer Technology Association), an association representing the United States consumer technology industry, annually organizes CES (Consumer Electronics Show), a global annual trade show to promote and step up innovation in technology to transform consumers’ experience of electronic products.
China has a massive consumer electronics market driven by a large population with increasing disposable incomes. The smartphone market is highly competitive, with domestic brands like Huawei, Xiaomi, and Oppo leading the way. China is to account for a CAGR of 8.30% by the end of 2023
China is a key manufacturing hub for consumer electronics, including smartphones, tablets, and wearables. There is a growing demand for IoT devices, smart home solutions, and 5G technology. The rise in spending by this generation, coupled with the increase in trade activities related to consumer electronics, is spurring the growth in China.
The affluent upper-middle class in China is likely to open new sales opportunities for the well-established brands currently operating in the industry, which tends to work in favor of consumer electronic equipment manufacturers in China.
The busy lifestyle adopted by United Kingdom citizens has compelled them to get inclined toward a digital life. The proliferation of smart technologies has significantly facilitated a specular shift from a general to a digital lifestyle in the United Kingdom, driving the market demand. United Kingdom is to account for a CAGR of 3.40% by the end of 2023
Due to the busy lifestyle, automation for doing daily jobs is highly preferred by Britons. As stated by the Government of the United Kingdom, the electronics industry in the United Kingdom comprises more than 12,000 companies and is growing exponentially. This is an indicator that points to a rise in revenue for consumer electronics manufacturers in the near future
The growing demand for the latest and most innovative consumer electronics, including smartphones, laptops, and smart home devices, is driving the market growth in Germany. Germany is to account for a CAGR of 2.80% by the end of 2023
A high standard of living and a strong economy, with a significant portion of the population having relatively high disposable income, has led to robust demand for consumer electronics products in Germany.
Players are focused on enhancing their business operations by making significant investments in Germany. The companies operating in the consumer electronics industry are investing or collaborating with the other players in their core business or parallel business categories to promote research and development.
In India, millennials are one of the largest demographic groups and chief wage earners as well. Millennials have grown up with technology while representing the new era of talent, which expects everything to be under control and at their fingertips. India is to account for a CAGR of 8.10% by the end of 2023
This is one of the major factors that has helped redefine consumer consumption and buying patterns in India. As stated by the ICEA, if India extends its ambition beyond making in India for India to making mobile handsets and components in India for the world, it could manufacture around 1,250 million handsets across various segments by 2025, firing up an industry worth around US$ 230 billion.
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| Category | Market Share |
|---|---|
| Multi-brand Stores | 28.20% |
| Consumer Electronic Devices | 88.0% |
Sales through specialty stores and multi-brand stores still account for a notable share of the industry. The penetration of specialty stores and multi-brand electronic stores is high in developing regions like Asia Pacific, the Middle East, and Africa. Multi-brand sales are expected to register a significant share of 88.0% during the forecast period.
The adoption and penetration of consumer electronic devices such as smartphones, televisions, personal computers, camcorders, cameras, and others are high in volume and value terms. Smartphone devices have rapidly gained millennial attention.
Integration of AI and IoT is expected to make it even bigger in the forecast period. The segment is expected to account for a share of 28.20% during the forecast period.
The key players in the global consumer electronics market are looking to consolidate their position post-pandemic. Innovation and understanding of evolving consumer sentiment remain key focus areas for market players.
Industry 4.0 and its elements are likely to play a crucial role in consumer electronics manufacturing. Considering the target users, the consumer electronics industry continues to spend heavily on social media advertising & marketing.
Some key market developments are provided as follows-
| Attributes | Details |
|---|---|
| Estimated Market Size in 2023 | US$ 3,296.66 million |
| Projected Market Valuation in 2033 | US$ 5,820.65 million |
| Value-based CAGR 2023 to 2033 | 5.80% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in US$ million |
| Key Regions Covered |
|
| Key Market Segments Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
The consumer electronics market is expected to reach US$ 3,296.66 million in 2023.
The consumer electronics market is set to expand by a CAGR of 5.80% by 2033.
The consumer electronics market is forecast to reach US$ 5,820.65 million by 2033.
A significant share of profits will likely come from the Industry in East Asia.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033
5.3.1. Consumer Electronic Devices
5.3.1.1. Digital Camcorder/DVR and Camera
5.3.1.2. Smart Phones/Feature Phones & Tablets
5.3.1.3. Smart TV
5.3.1.4. Printers/ Set Top Box
5.3.1.5. Personal Computers & Gaming Consoles
5.3.2. Wearable Devices
5.3.2.1. Smart Accessories
5.3.2.2. Other Wearable Devices
5.3.3. Smart Home Devices
5.3.3.1. Securities & HVAC Systems
5.3.3.2. Smart Kitchen Appliances
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Sales Channel, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Sales Channel, 2023 to 2033
6.3.1. Hypermarkets/Supermarkets
6.3.2. Specialty Stores
6.3.3. Multi-brand Stores
6.3.4. Online Retailers
6.3.5. Wholesalers & Distributors
6.3.6. Other Sales Channel
6.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Sales Channel, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Product
8.2.3. By Sales Channel
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product
8.3.3. By Sales Channel
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Product
9.2.3. By Sales Channel
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product
9.3.3. By Sales Channel
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Product
10.2.3. By Sales Channel
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product
10.3.3. By Sales Channel
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Product
11.2.3. By Sales Channel
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product
11.3.3. By Sales Channel
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Product
12.2.3. By Sales Channel
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product
12.3.3. By Sales Channel
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Product
13.2.3. By Sales Channel
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product
13.3.3. By Sales Channel
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Product
14.2.3. By Sales Channel
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product
14.3.3. By Sales Channel
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2023
15.1.2.1. By Product
15.1.2.2. By Sales Channel
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2023
15.2.2.1. By Product
15.2.2.2. By Sales Channel
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2023
15.3.2.1. By Product
15.3.2.2. By Sales Channel
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2023
15.4.2.1. By Product
15.4.2.2. By Sales Channel
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2023
15.5.2.1. By Product
15.5.2.2. By Sales Channel
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2023
15.6.2.1. By Product
15.6.2.2. By Sales Channel
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2023
15.7.2.1. By Product
15.7.2.2. By Sales Channel
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2023
15.8.2.1. By Product
15.8.2.2. By Sales Channel
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2023
15.9.2.1. By Product
15.9.2.2. By Sales Channel
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2023
15.10.2.1. By Product
15.10.2.2. By Sales Channel
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2023
15.11.2.1. By Product
15.11.2.2. By Sales Channel
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2023
15.12.2.1. By Product
15.12.2.2. By Sales Channel
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2023
15.13.2.1. By Product
15.13.2.2. By Sales Channel
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2023
15.14.2.1. By Product
15.14.2.2. By Sales Channel
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2023
15.15.2.1. By Product
15.15.2.2. By Sales Channel
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2023
15.16.2.1. By Product
15.16.2.2. By Sales Channel
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2023
15.17.2.1. By Product
15.17.2.2. By Sales Channel
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2023
15.18.2.1. By Product
15.18.2.2. By Sales Channel
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2023
15.19.2.1. By Product
15.19.2.2. By Sales Channel
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2023
15.20.2.1. By Product
15.20.2.2. By Sales Channel
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2023
15.21.2.1. By Product
15.21.2.2. By Sales Channel
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2023
15.22.2.1. By Product
15.22.2.2. By Sales Channel
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2023
15.23.2.1. By Product
15.23.2.2. By Sales Channel
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product
16.3.3. By Sales Channel
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Samsung Electronics Co. Ltd.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. LG Electronics Co. Ltd.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Apple, Inc.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Hitachi Ltd.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Koninklijke Philips N.V.
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Sony Corporation
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Hewlett Packard Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Toshiba Corporation
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Panasonic Corporation
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Consumer Electronics Market
