An Incisive, In-depth Analysis on the Consumer Electronics Market
This study offers a comprehensive, 360 degree analysis on the Consumer Electronics market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Consumer Electronics market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Consumer electronics have witnessed increased adoption in the past decade. From traditional consumer electronic products such as smartphones, laptops, computers, tablets, and digital cameras, to the more advanced products such as band, chest strap, activity tracker, fitness monitor, pedometer, and wearable electronic devices, the global market for consumer electronics encompasses a wide product catalog. Future Market Insights predicts a stellar growth in the next few years registering a CAGR of over 15% with a market valuation of reach US$ 2,976.1 Bn in 2020.
Internet Users looking for IoT-Driven ‘Smart’ Devices to Bolster the Consumer Electronic Market
The consumer electronics market is experiencing such elevated adoption owing to factors such as expanding urban population especially the middle class, altered lifestyle preferences, and increasing number of ‘smart’ internet users. Additionally, burgeoning R&D activities by key players to develop and design advanced and cost-effective products is also anticipated to enhance competitiveness in the consumer electronics market. Governments across the globe are increasingly supporting digitalization efforts made by key players, eventually bolstering the consumer electronics market on a global level.
However, consumers are not just using mobile phones and laptops now. Emergence of Internet of Things (IoT) and subsequent growing popularity of wearable electronic devices has been a breakthrough innovation in the consumer electronics market. Expansion of urban population across the globe with high net worth of individuals, has led to strong demand for advanced consumer electronics such as connected TVs, wearable fitness device, and smart security systems. Consumer preferences are shifting towards connected consumer electronic devices and accessories such as smart kitchen appliances which can be monitored remotely and smart wearable devices that can be connected to smartphone wirelessly. These smart consumer electronic devices offer enhanced end-user experience with reduced complexities and increased functionality- growing increasingly popular among the growing tech savvy population, especially in emerging countries.
Additionally, the global consumer electronics market is segmented on the basis of device type including consumer electronic device, smart home device, and wearable device. The consumer electronic device segment will continue dominance, accounting for more than 97% market share by 2020-end, with smartphones witnessing maximum traction.
Increased R&D to Enhance Product Portfolio to be Key Competition Strategy
The global consumer electronics market is highly volatile and competitive owing to a number of factors. The competitive landscape is dominated by some key international players along with new entrants. Increased market expansion through strategic mergers, acquisitions, partnerships and joint ventures, in addition to innovative and cost-effective product development through R&D are anticipated to remain key strategies adopted players including HP Inc., Apple Inc., Samsung Electronics Co. Ltd., and Sony Corporation to name a few.
Regional Analysis: APEJ to be the Largest Market of Consumer Electronics
To study the overall reach of the global market for consumer electronics, the comprehensive market research covers North America, Latin America, Western Europe, Asia-Pacific excluding Japan (APEJ), Eastern Europe, Middle East and Africa (MEA), and Japan. APEJ is anticipated to be the hotbed of future demand and continue to be the largest market for consumer electronics throughout the forecast period, followed by North America and Western Europe.
Future Market Insights (FMI) has studies the global consumer electronics market for the forecast period 2016–2020 with a primary objective to offer insights and information related to market and investment opportunities in the global consumer electronics market. The report also gives an overview of the global consumer electronics market performance in terms of revenue contribution from various segments. In addition to the overview, impact analysis of key trends, drivers, restraints, and opportunities have been covered in the report, to better equip clients with useful decision-making insights.
An overview of the market and key definitions are covered in the first section of the report .Further analysis in the report is spread across device type, geographic analysis, and competitive landscape to provide a comprehensive market forecast for the next four years.
Geographically, the report assesses key regions including of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In terms of competitive market landscape, the report provides the client with a dashboard view of key players operating in the global consumer electronics market, along with an analysis of company-specific long-term and short-term strategies, key offerings, and recent developments in the global consumer electronics market. Key players profiled in the report include Apple Inc., Sony Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., HP Inc., Panasonic Corporation and Hitachi Ltd., and Toshiba Corporation. An important component of the report is the key strategic recommendations for new and existing players in the global consumer electronics market to emerge sustainably profitable.
To arrive at global data in terms of market performance, the report considers regional revenue contribution and contribution of key players operating in the global consumer electronic market. The report also considers qualitative to quantitative conversion, assigning weightage to drivers, statistical evaluation and developing the actual forecast based on both the cases. The total revenue generated by value across the global consumer electronics market and in order to provide an accurate forecast, the report begins by sizing the current market, which forms the basis of how the global consumer electronics market is anticipated to perform in future.
Another key feature of the report is the market analyses based on key parameters such as year-on-year (Y-o-Y) and Basis Point Share (BPS) growth to ascertain market predictability and identify the right investment opportunities and various trends impacting the global consumer electronics market. Absolute dollar opportunity- a feature generally overlooked during market research is also explored in the report. Absolute dollar opportunity offers a glance at potential resources and opportunity in the global consumer electronics market.
The overall absolute dollar opportunity along with the segmental split is mentioned in the report. Further, to understand key market segments in terms of growth and performance in the global consumer electronics market, FMI has developed a market attractiveness index to help providers identify real market opportunities across the global consumer electronics market.