With connectivity and IoT on the horizon, consumer electronics market share is slated to witness a notable spike in the ensuing period. Tremendous explosion of data and advent of AI and voice assistants are playing an invaluable role in the market penetration of smart consumer electronics. Getting to the technology frontier will be one of the major focus of the forward-looking manufacturers.
Robust technologies are bringing a paradigm shift in the way end-markets communicate, connect and exchange information. Some of the factors such as easier access, rising awareness and changing lifestyle have remained instrumental in fueling consumer electronics market revenue. Industry players are counting on energy efficiency, competitive strategies, expanding luxury landscape and favorable administrative policies.
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Surging demand for small household appliances -
The demand for affordable household appliances has grown a steady pace in recent years. Technological innovation has made products like microwaves, food processors, iron boxes, and hair dryers more affordable and diverse. Manufacturers are developing new products that offer enhanced functionality. Citing 2020 for instance, Xiaomi launched its latest, affordable line-up of Mijia product, the Mijia Smart Convection Microwave Oven.
Xiaomi’s latest offering comes at a competitive price point and supports both barbecue and regular heating at the same time. Additionally, with the introduction of advanced cameras in smartphones, consumers are heavily preferring smartphones over digital cameras.
Adoption of new business strategies -
Companies operating in the consumer electronics market are constantly focusing on product innovations and product launch to increase their market share and presence. Taking August 2020 for instance, DealsDray decided to expand its market presence by releasing its new, in-house consumer electronics brand, DYLECT. The brand recently unveiled its two new offerings dubbed, DYLECT LED TV 32IPS30H and DYLECT HD Smart TV 32IPS20S.
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Presence of tech-savvy customer base and rapid adoption of advanced technologies by manufacturers could massively benefit the North American consumer electronics market landscape. Countries in the region are experiencing prominent demand for advanced gadgets for both professional and personal applications. Rapid implementation of smart homes and smart office building infrastructure could strengthen business outlook over the predicted timeframe.
Some of the major players profiled in the report are Microsoft Corporation, Samsung Electronics Co. Ltd., Siemens AG, Panasonic Corporation, Sony Corporation, among several others.
Major Key Points from Table of Content:
Chapter 5. Consumer Electronics Market, By Product
5.1. Key trends by product
5.2. Audio & video equipment (TV, Laptop, Smartphones, Earphones & Headphones, Speakers)
5.2.1. Market estimates and forecast, 2016 – 2026
5.2.2. Market estimates and forecast, by application 2016 – 2026
18.104.22.168. Market estimates and forecast, 2016 – 2026
22.214.171.124. Market estimates and forecast, 2016 – 2026
5.3. Major household appliances (Refrigerator, Air Conditioner, Washing Machines)
5.3.1. Market estimates and forecast, 2016 – 2026
5.4. Small household appliances (Iron Box, Microwave Ovens, Food Processors, Electric Kettle)
5.4.1. Market estimates and forecast, 2016 – 2026
5.5. Digital photo equipment (Digital camera & Camcorder)
5.5.1. Market estimates and forecast, 2016 – 2026
5.5.2. Market estimates and forecast, by application 2016 – 2026
126.96.36.199. Market estimates and forecast, 2016 – 2026
188.8.131.52. Market estimates and forecast, 2016 – 2026
Chapter 6. Consumer Electronics Market, By Application
6.1. Key trends by application
6.2.1. Market estimates and forecast, 2016 - 2026
6.3.1. Market estimates and forecast, 2016 – 2026
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