How big is the consumer electronics market?
Consumer Electronics Market size was valued at over USD 1 trillion in 2020 and is estimated to grow at a CAGR of more than 8% from 2021 to 2027. Rapidly increasing internet penetration across the globe will drive the market growth. Consumer electronics are electronic equipment for non-commercial use.
What is the consumer electronics market?
The Consumer Electronics market comprises electronic and digital devices used privately either for entertainment (television sets, radios , smart speakers, etc.), communication (telephones, smart phones, etc.) or home-office activities (printers, copiers).
Is the consumer electronics industry growing?
Between 2020 and 2021, the consumer electronics industry in the United States is expected to grow by 4.3 percent.
Who is the largest electronics retailer?
Amazon
In 2020 Amazon still remains as the leading consumer electronics retailer in the United States, generating sales revenues in excess of 68 billion U.S. dollars.
Who leads the consumer electronics industry?
Industry leaders The dominant players in the industry are large companies such as Apple, Samsung, and Sony. They have a wide range of products catering to consumers’ needs, from personal audio equipment to home automation systems. Among the giants, Apple was named one of the most valuable brands in the world.
Who is the market leader in electronics?
Apple is the largest electronics company in the world by revenue, generating a total of USD 260.17 billion in revenue in 2019.
What will be the approximate size of the consumer electronics market by 2023?
The consumer electronics market is projected to continue growing in the coming years, albeit at a slower pace. Its total revenue is expected to increase 7.5% in 2023, to $811 billion. This is set to continue rising to $855 billion in 2024, before topping $930 billion in 2025.
Is consumer electronics a fragmented industry?
The global consumer electronics market is fragmented by the presence of key players such as LG, Samsung, Sony, and others. These companies hold a dominant share in the consumer electronics segment and strive to maintain their presence by expanding their capacity to cater to the growing consumer demand globally.
Is consumer electronics a competitive market?
As an extremely competitive market, there are always new players entering the market, particularly from China, a global hub for manufacturing products.
How big is the electronics industry worldwide?
$1.03-trillion
The global consumer electronics sector has witnessed a steady growth in recent years, with revenues rising from $844.7-billion in 2012 to $1.03-trillion in 2019, revealed Statista data.