According to a new market report published by Credence
Research, Inc. “Consumer Electronics MarketBy
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
Market Insights
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.
Competitive Insights:
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.
Key Trends:
·
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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Consumer Electronics Market, Industry Growth, Analysis, and Forecast To 2022 – by Credence Research
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