Summary

The global consumer electronics market value in 2023 stood at US$1.03 trillion, and is likely to reach US$1.57 trillion by 2029. Consumer electronics refers to a broad category of electronic devices and gadgets that are designed and manufactured for personal use by consumers. These products, including smartphones, computers, televisions, audio systems, gaming consoles, wearable devices, and home appliances, cater to communication, entertainment, productivity, and convenience needs. They incorporate advanced technologies like wireless connectivity, touchscreens, and artificial intelligence.

In recent years, the demand for consumer electronics has been growing, driven by the emergence of 5G networks and rise in Internet of Things. A new trend displays manufacturers opting for sustainable practices into their business to meet consumer expectations. As the consumer preferences changes, the consumer electronics market is expected to deepen its offering in specific niche. New marketing techniques and advanced innovations along with rise in social commerce would further boost the consumer electronics market in the forthcoming years. Also, the growing trend towards a connected and intelligent home has led to the introduction of new smart devices to the market and continues to drive market growth. Although the consumer electronics market has already matured, it is anticipated that the adoption of new technologies would support volume growth. The global consumer electronics market is projected to grow at a CAGR of 7.37% during the forecast period of 2024-2029.

Market Segmentation Analysis:

By Product: Based on the product, the global consumer electronics market can be segmented into five segments: Telephony, Computing, TV, Radio, and Multimedia, TV Peripheral Devices and Drones. In 2023, Telephony segment dominated the consumer electronics market, owing to the adoption of various technologies and services. Additionally, the deployment of 5G networks promises to revolutionize telephony by offering faster data speeds, reduced latency, and improved call quality, especially for mobile communication. During the forecasted period of 2024-2029, TV peripheral devices is the fastest growing segment. The growth of the market is driven by several factors, including technological advances in TV resolution, the rising popularity of OTT content in smart TV, and the growing prominence of online sales. The rise of streaming services like Netflix, Amazon Prime Video, Hulu, and Disney+ is fueling the demand for streaming devices. Therefore, the market for TV peripheral devices would foresee immense growth in the upcoming years.

By Application: The report provides the consumer electronics market analysis based on the application: Personal and Professional. Personal application segment has the largest share and is expected to be the fastest-growing segment in the forecasted period. Consumer electronics have become an integral part of modern personal life, catering to communication, entertainment, productivity, health, and various other needs. Even for professional application, smartphones, tablets, and laptops are essential tools for professionals to stay connected and communicate with colleagues, clients, and partners.

By Distribution Channel: The report provides the consumer electronics market analysis based on the distribution channel: Offline and Online. In 2023, offline segment dominated the consumer electronics market as consumers often prefer in-store shopping for electronics because it allows them to physically inspect products, test features, and receive personalized assistance from sales staff. Additionally, brick-and-mortar stores often offer immediate availability, allowing for quicker purchases compared to online delivery times. Retailers also boost foot traffic through in-store promotions and exclusive deals. Though, during the forecasted period of 2024-2029, online segment is the fastest growing segment due to the increasing adoption of e-commerce platforms and the convenience they offer. The rise of digital payment solutions, better logistics, and faster delivery options have made online shopping more accessible and appealing. Moreover, the growing penetration of smartphones and internet access, especially in emerging markets, is further driving the shift towards online purchases.

By Region: According to this report, the global consumer electronics market can be divided into five major regions: Asia Pacific (China, India, Japan, South Korea and Rest of the Asia Pacific), Europe (Germany, The UK, France and Rest of the Europe), North America (the US, Canada, and Mexico), Latin America and Middle East and Africa. Asia Pacific holds the largest share of the global consumer electronics market. The Southeast Asia region is home to some of the strongest economies in the world. They have been leading the technological change worldwide for more than two decades. China, India, Japan and South Korea are the exclusive contributors to the manufacturing and supply of consumer electronics globally. China is the world’s leading producer of computers, mobile phones, and other consumer electronics, and has become a major supplier of components for the world’s electronics industry. Japan is famous for being the home of many of the big names in the global consumer electronics market such as Toshiba, Panasonic, Sony, Nikon and Hitachi. On the other hand, the Indian consumer electronics industry is very optimistic and has desire to adopt new technology and manufacture locally under Make-in-India. All these factors open up greater opportunities for consumer electronics market to flourish.

The European consumer electronics market is characterized by strong research and development infrastructure, robust governmental support, and significant industry applications. Furthermore, UK has a strong tradition of innovation and research in electronics, engineering and manufacturing, which gives it a competitive edge in developing new products and technologies.

Global Consumer Electronics Market Dynamics:

Growth Drivers: The global consumer electronics market is driven by the excessive demand for smartphones. New technological advancements and attracting new features in built-in smartphones are rapidly increasing the market share of consumer electronics. Smartphones offer a wide range of features and functions beyond communication. They serve as portable computers, cameras, gaming devices, music players, GPS navigation systems, and more. Consequently, smartphones have become a status symbol and a cultural phenomenon, influencing consumer behavior. Other drivers such as rising disposable income, e-commerce expansion, rising popularity of wearables, adoption of artificial intelligence, growth in residential sector, favorable government initiatives, increasing use of smart speakers, etc. are significantly influencing the consumer electronics market.

Challenges: Counterfeit products pose a serious threat to the consumer electronics industry. Any electronic device or a product purchased from an unauthorized seller can be dangerous. Fakes can endanger a consumer’s health and financial status at large. As a result, consumers tend to lose trust in the specific brand which eventually reduces the market base. Additionally, lack of infrastructure and electricity infrastructure constraints hinder the adoption of consumer electronics in less developed economies. These countries also lack digital literacy, a key component required to operate consumer electronics.

Market Trends: The consumer electronics market is evolving with the emergence of 5G networks. Smartphones, Tablets, Laptops imbibe 5G networks and appear more lucrative to consumers. With its significantly increased speed (10x to 100x faster than 4G), 5G is poised to revolutionize mobile communications and enable the digitalization of many new aspects of everyday life. Its ability to transfer massive amounts of data will enable the connectivity required to increase the adoption of smart devices. More trends in the market are believed to grow the consumer electronics market during the forecasted period, which may include, rise of Internet of Things (IoT), increasing popularity of social commerce, advancement in AR/VR, sustainability, E-Mobility, and many more.

Impact Analysis of COVID-19 and Way Forward:

The coronavirus (COVID-19) pandemic had a wide-ranging impact on sales of consumer electronics. The economic impact of the pandemic has resulted in reduced consumer spending, especially on non-essential items. This has led to a temporary decline in sales of certain consumer electronics products, particularly high-priced items such as premium laptops and smartphones. With people spending more time at home, there has been greater emphasis on home entertainment, fitness, and personal productivity. After solid growth in consumer electronics demand, fueled by remote work and increased time spent at home, the market has now entered a normalization phase, intensified by the deterioration of the macroeconomic environment.

Post-COVID Companies have focused on improving devices' performance, connectivity, and features to meet the changing needs of consumers. The rollout of 5G networks has gained momentum post-COVID, offering faster speeds, lower latency, and improved connectivity.

Competitive Landscape and Recent Developments:

The global consumer electronics market is consolidated as top four players held almost 75% market share. After decades of strong growth, the consumer electronics market has reached a more mature stage, with cycles of growth dictated by new products, innovation, and consumer spending. Logically, the sector is now undergoing a consolidation phase, with leading players looking to grow earnings by generating economies of scale. The key players in the global consumer electronics are:

Apple Inc.
Panasonic Corporation
Microsoft Corp.
Samsung Electronics Co., Ltd.
LG Corporation
Dell Technologies Inc.
Huawei Investment & Holding Co. Ltd.
Toshiba Corporation
Hitachi, Ltd.
Hewlett Packard Enterprise
Canon Inc.
Koninklijke Philips NV
Sony Corporation

Some of the strategies among key players in the market are new launches and expansion. For instance, Samsung unveiled the 2023 line-up of Odyssey G9 OLED Gaming Monitors powered by Neo Quantum Processor Pro.

ページTOPに戻る

Table of Contents

1. Executive Summary

2. Introduction

2.1 Consumer Electronics: An Overview
2.1.1 Introduction to Consumer Electronics
2.1.2 Types of Consumer Electronics

2.2 Consumer Electronics Segmentation: An Overview
2.2.1 Consumer Electronics Segmentation

3. Global Market Analysis

3.1 Global Consumer Electronics Market: An Analysis

3.1.1 Global Consumer Electronics Market: An Overview
3.1.2 Global Consumer Electronics Market by Value
3.1.3 Global Consumer Electronics Market by Product (Telephony, Computing, TV, Radio, and Multimedia, TV Peripheral Devices and Drones)
3.1.4 Global Consumer Electronics Market by Application (Personal and Professional)
3.1.5 Global Consumer Electronics Market by Distribution Channel (Offline and Online)
3.1.5 Global Consumer Electronics Market by Region (Asia Pacific, Europe, North America, Latin America and Middle East and Africa)

3.2 Global Consumer Electronics Market: Product Analysis

3.2.1 Global Consumer Electronics Market by Product: An Overview
3.2.2 Global Telephony Consumer Electronics Market by Value
3.2.3 Global Computing Consumer Electronics Market by Value
3.2.4 Global TV, Radio, and Multimedia Consumer Electronics Market by Value
3.2.5 Global TV Peripheral Devices Consumer Electronics Market by Value
3.2.6 Global Drones Consumer Electronics Market by Value

3.3 Global Consumer Electronics Market: Application Analysis

3.3.1 Global Consumer Electronics Market by Application: An Overview
3.3.2 Global Personal Consumer Electronics Market by Value
3.3.3 Global Professional Consumer Electronics Market by Value
3.4 Global Consumer Electronics Market: Distribution Channel Analysis
3.4.1 Global Consumer Electronics Market by Distribution Channel: An Overview
3.4.2 Global Offline Consumer Electronics Market by Value
3.4.3 Global Online Consumer Electronics Market by Value

4. Regional Market Analysis

4.1 Asia Pacific Consumer Electronics Market: An Analysis

4.1.1 Asia Pacific Consumer Electronics Market: An Overview
4.1.2 Asia Pacific Consumer Electronics Market by Value
4.1.3 Asia Pacific Consumer Electronics Market by Region (China, India, Japan, South Korea and Rest of Asia Pacific)
4.1.4 China Consumer Electronics Market by Value
4.1.5 India Consumer Electronics Market by Value
4.1.6 Japan Consumer Electronics Market by Value
4.1.7 South Korea Consumer Electronics Market by Value
4.1.8 Rest of Asia Pacific Consumer Electronics Market by Value

4.2 Europe Consumer Electronics Market: An Analysis

4.2.1 Europe Consumer Electronics Market: An Overview
4.2.2 Europe Consumer Electronics Market by Value
4.2.3 Europe Consumer Electronics Market by Region (Germany, UK, France and Rest of the Europe)
4.2.4 Germany Consumer Electronics Market by Value
4.2.5 UK Consumer Electronics Market by Value
4.2.6 France Consumer Electronics Market by Value
4.2.7 Rest of Europe Consumer Electronics Market by Value

4.3 North America Consumer Electronics Market: An Analysis

4.3.1 North America Consumer Electronics Market: An Overview
4.3.2 North America Consumer Electronics Market by Value
4.3.3 North America Consumer Electronics Market by Region (The US, Canada and Mexico)
4.3.4 The US Consumer Electronics Market by Value
4.3.5 Canada Consumer Electronics Market by Value
4.3.6 Mexico Consumer Electronics Market by Value

4.4 Latin America Consumer Electronics Market: An Analysis

4.4.1 Latin America Consumer Electronics Market: An Overview
4.4.2 Latin America Consumer Electronics Market by Value

4.5 Middle East and Africa Consumer Electronics Market: An Analysis

4.5.1 Middle East and Africa Consumer Electronics Market: An Overview
4.5.2 Middle East and Africa Consumer Electronics Market by Value

5. Impact of COVID-19

5.1 Impact of COVID-19 on Global Consumer Electronics Market
5.2 Post COVID-19 Impact on Global Consumer Electronics Market

6. Market Dynamics

6.1 Growth Drivers
6.1.1 Growing Demand for Smartphones
6.1.2 Rising Disposable Income
6.1.3 E-Commerce Expansion
6.1.4 Rising Popularity of Wearables
6.1.5 Adoption of Artificial Intelligence
6.1.6 Growth in Residential Sector
6.1.7 Favorable Government Initiatives
6.1.8 Increasing Use of Smart Speakers

6.2 Challenges
6.2.1 Counterfeit Products
6.2.2 Low Penetration in Less Developed Countries

6.3 Market Trends
6.3.1 Emergence of 5G Networks
6.3.2 Rise of Internet of Things (IoT)
6.3.3 Increasing Popularity of Social Commerce
6.3.4 Advancement in AR/VR
6.3.5 Sustainability
6.3.6 E-Mobility

7. Competitive Landscape

7.1 Global Consumer Electronics Players: Competitive Landscape
7.2 Global Consumer Electronics Players by Market Share

8. Company Profiles

8.1 Apple Inc.
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy

8.2 Panasonic Corporation
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategy

8.3 Microsoft Corp.
8.3.1 Business Overview
8.3.2 Operating Segments
8.3.3 Business Strategy

8.4 Samsung Electronics Co., Ltd.
8.4.1 Business Overview
8.4.2 Operating Segments
8.4.3 Business Strategy

8.5 LG Corporation
8.5.1 Business Overview
8.5.2 Operating Segments
8.5.3 Business Strategy

8.6 Dell Technologies Inc.
8.6.1 Business Overview
8.6.2 Operating Segments
8.6.3 Business Strategy

8.7 Huawei Investment & Holding Co. Ltd.
8.7.1 Business Overview
8.7.2 Operating Segments
8.7.3 Business Strategy

8.8 Toshiba Corporation
8.8.1 Business Overview
8.8.2 Operating Segments
8.8.3 Business Strategy

8.9 Hitachi, Ltd.
8.9.1 Business Overview
8.9.2 Operating Segments
8.9.3 Business Strategy

8.10 Hewlett Packard Enterprise
8.10.1 Business Overview
8.10.2 Operating Segments
8.10.3 Business Strategy

8.11 Canon Inc.
8.11.1 Business Overview
8.11.2 Operating Segments
8.11.3 Business Strategy

8.12 Koninklijke Philips NV
8.12.1 Business Overview
8.12.2 Operating Segments
8.12.3 Business Strategies

8.13 Sony Corporation
8.13.1 Business Overview
8.13.2 Operating Segments
8.13.3 Business Strategy

List of Figures

Figure 1: Types of Consumer Electronics
Figure 2: Consumer Electronics Segmentation
Figure 3: Global Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 4: Global Consumer Electronics Market by Value; 2024-2029 (US$ Trillion)
Figure 5: Global Consumer Electronics Market by Product; 2023 (Percentage, %)
Figure 6: Global Consumer Electronics Market by Application; 2023 (Percentage, %)
Figure 7: Global Consumer Electronics Market by Distribution Channel; 2023 (Percentage, %)
Figure 8: Global Consumer Electronics Market by Region; 2023 (Percentage, %)
Figure 9: Global Telephony Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 10: Global Telephony Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 11: Global Computing Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 12: Global Computing Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 13: Global TV, Radio, and Multimedia Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 14: Global TV, Radio, and Multimedia Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 15: Global TV Peripheral Devices Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 16: Global TV Peripheral Devices Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 17: Global Drones Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 18: Global Drones Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 19: Global Personal Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 20: Global Personal Consumer Electronics Market by Value; 2024-2029 (US$ Trillion)
Figure 21: Global Professional Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 22: Global Professional Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 23: Global Offline Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 24: Global Offline Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 25: Global Online Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 26: Global Online Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 27: Asia Pacific Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 28: Asia Pacific Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 29: Asia Pacific Consumer Electronics Market by Region; 2023 (Percentage, %)
Figure 30: China Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 31: China Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 32: India Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 33: India Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 34: Japan Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 35: Japan Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 36: South Korea Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 37: South Korea Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 38: Rest of Asia Pacific Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 39: Rest of Asia Pacific Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 40: Europe Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 41: Europe Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 42: Europe Consumer Electronics Market by Region; 2023 (Percentage, %)
Figure 43: Germany Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 44: Germany Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 45: UK Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 46: UK Consumer Electronics Market by Value; 2024-2029 (US$ billion)
Figure 47: France Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 48: France Consumer Electronics Market by Value; 2024-2029 (US$ billion)
Figure 49: Rest of Europe Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 50: Rest of Europe Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 51: North America Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 52: North America Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 53: North America Consumer Electronics Market by Region; 2023 (Percentage, %)
Figure 54: The US Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 55: The US Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 56: Mexico Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 57: Mexico Consumer Electronics Market by Value; 2024-2029 (US$ billion)
Figure 58: Canada Consumer Electronics Market by Value; 2019-2023 (US$ billion)
Figure 59: Canada Consumer Electronics Market by Value; 2024-2029 (US$ billion)
Figure 60: Latin America Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 61: Latin America Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 62: Middle East and Africa Consumer Electronics Market by Value; 2019-2023 (US$ Billion)
Figure 63: Middle East and Africa Consumer Electronics Market by Value; 2024-2029 (US$ Billion)
Figure 64: Global Number of Smartphone Users; 2021-2028 (Billion)
Figure 65: Global GDP per Capita; 2019-2024 (US$ Thousand)
Figure 66: Global Consumer Electronics Share of Online Sales by Region; 2019-2023 (Percentage, %)
Figure 67: Global Wearables Device Shipments by Product Category; 2022-2028 (Millions)
Figure 68: Global AI Revenue; 2022-2029 (US$ Billion)
Figure 69: Global 5G Subscriptions; 2023-2029 (Billion)
Figure 70: Global Active IoT Connections (Installed Base); 2023-2030 (Billion)
Figure 71: Global Social Commerce Revenue; 2022-2030 (US$ Billion)
Figure 72: Global Consumer Electronics Players by Market Share; 2023 (Percentage, %)
Figure 73: Apple Inc. Net Sales by Segment; 2023 (Percentage, %)
Figure 74: Panasonic Corporation Net Sales by Segments; 2023 (Percentage, %)
Figure 75: Microsoft Corp. Revenue by Segment; 2023 (Percentage, %)
Figure 76: Samsung Electronics Co., Ltd. Net Revenue by Segments; 2023 (Percentage, %)
Figure 77: LG Electronics Sales by Segments; 2023 (Percentage, %)
Figure 78: Dell Technologies Inc. Net Revenue by Segments; 2023 (Percentage, %)
Figure 79: Huawei Investment & Holding Co. Ltd. Revenue by Segments; 2023 (Percentage, %)
Figure 80: Toshiba corporation Net Sales by Segment; 2023 (Percentage, %)
Figure 81: Hitachi, Ltd. Revenue by Segments; 2023 (Percentage, %)
Figure 82: Hewlett Packard Enterprise Net Revenue by Operating Segments; 2023 (Percentage, %)
Figure 83: Canon Inc. Sales by Segments; 2023 (Percentage, %)
Figure 84: Koninklijke Philips NV Sales by Segment; 2023 (Percentage, %)
Figure 85: Sony Corporation Sales by Segments; 2023 (Percentage, %)