According to a new market report published by Credence Research, Inc. “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) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023”, the global consumer electronics market is expected to grow at a CAGR of over 5% from 2016 to 2023.
Browse the 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) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023 report at http://www.credenceresearch.com/report/consumer-electronics-market
Burgeoning demand for connected devices and advanced consumer electronics across the globe is fueling growth of the consumer electronics market. Also, introduction of digital initiative by governments in emerging economies such as China, India and Brazil is increasing the adoption of consumer electronic devices especially smartphones, tablet and laptops. Further, expanding urban population supplemented by increasing disposable income is expected to propel market growth over the forecast period. However, high cost associated with wearable devices and data privacy and security threats are anticipated to hinder growth of the consumer electronics market to certain extent.
The global consumer electronics market ecosystem consists of consumer electronic device providers, connected device providers, and wearable device providers. The market is primarily dominated by major vendors such as Apple Inc., Samsung Electronics and LG Electronics Inc. Key players in the consumer electronics market are focused towards investing substantial amount on research and development activities to develop innovative and cost-effective products to gain competitive advantage in long run. Major players operating in the global consumer electronics market are Apple Inc., Samsung Electronics Co. Ltd., HP Inc., LG Electronics Inc., Sony Corporation, Toshiba Corporation, Panasonic Corporation, Hitachi Ltd., Koninklijke Philips N.V and Panasonic Corporation.
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- Strategic partnership among major players to drive market growth
- Consumer shift towards connected consumer electronics
- Surge in acquisitions and mergers to gain market share, increase customer base and strengthen market footprints
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