As developing economies grow, consumer demand for electronics also grows. Fortunately, this industry does show promise of excellent growth in 2020 and beyond. That is why a smart concept is needed – one that is intelligently adapted to this innovation-driven market. Click to drill down to individual stock data. As consumer preferences shift and technologies continue to evolve, the consumer electronics industry is bound to benefit from a host of new business opportunities. Within Technology sector 2 other industries have achieved higher return on investment. Many electronics brands are now offering their products at their own stores as a means of becoming more profitable. The Canada personal application segment size was over USD 25 billion in 2019 and is expected to witness growth rate of more than 7% through 2026. For instance, in January 2020, LG and Samsung, leading consumer electronics manufacturers, announced their plans to launch microLED TVs for residential and commercial applications. The above information has been provided for the following regions and countries: Need a Discount? Published Date: Aug 2020  |  Report ID: GMI2383  |  Authors: Preeti Wadhwani, Prasenjit Saha. We have introduced ‘GMIPulse’, which is our report store; designed to offer clients a one-stop platform for all market research and business intelligence requirements. This growth can be attributed to increasing disposable income and spending capacity of consumers. These stores compete with flagship retailers, such as Best Buy (BBY), for customer traffic. This acquisition aided the company to enhance its software and technology expertise to produce innovative products. 2016: not the best year ever for the consumer electronics industry. The electronics industry is characterized by extremely short product lifecycles. Consumer electronics industry shows a brighter picture of the future. China has been a significant electronics producer for a long time and is now also a major market for consumer and industrial electronics. Within Technology sector 10 other industries have achieved higher Inventory Turnover COS Ratio. Manufacturers are facing challenges of reducing their product development time and time-to-market to sustain in the highly competitive market. The report covers the present ground scenario and the future growth prospects of the consumer electronics industry for 2017-2030 along with the industry players’ analysis. Increasing awareness related to upcoming technologies among the youth is also augmenting the demand in these markets. Based on the latest innovations, it’s clear that IoT, 5G, and AI-powered voice assistant technologies will drive this market for a long time to come. The rapid spread of COVID-19 pandemic, since the beginning of January 2020, has adversely impacted the consumer electronics sector. Consumer Electronics Industry 's inventory turnover ratio sequentially increased to 2.16 in the 3 Q 2020, below Consumer Electronics Industry average. Declining prices of personal consumer electronics, such as smartphones, Bluetooth speakers, earphones, and wearables, are also contributing to the growing market demand for these devices. In 2018, any player in the consumer electronics industry cannot afford to have a weak online presence. Roi Comment: Consumer Electronics Industry achieved return on average invested assets of 19.14 % in 3 Q 2020, above Industry average return on investment. Other countries also regulate the industry at varying levels. Consumer electronics have witnessed increased adoption in the past decade. The consumer electronics industry, like many others, is experiencing a certain amount of volatility, and even the most expert projections may be stymied by the unpredictability of today’s market forces. Consumer electronics and home appliances: This is a major segment in the electronic industry and produces consumer products such as Televisions, radios, DVD players, video gaming systems, mobile phones, cameras, electronic ovens, etc. The Asia Pacific consumer electronics market revenue is poised to reach USD 650 billion by 2026, growing at 8% CAGR during the forecast period. As the variety of electronics products increases, stores struggle to offer enough of the more popular products to consumers and concede some of the market share to online retailers. Semiconductors are used in most electronic products, including cameras, computers, automobiles, mobile phones, refrigerators, bulbs, washing machines, and televisions. The audio & video consumer electronics market held over 70% share in 2019 owing to integration of advanced features, such as voice assistant-enabled control and enhanced connectivity. For instance, in February 2020, Panasonic announced its plans to launch several new connected home appliances for Japanese and Indian markets. Get in touch with an industry expert for more insights on current and future market trends and market trend analysis for the consumer electronics market. The latest technology industry news, focusing on daily policy and regulatory developments affecting the consumer electronics industry. Clients can access reports, presentations, raw data excel sheets as well as detailed company profiles. The consumer electronic market is comprised of the profit generated through the sales of these products. The integration of features such as enhanced connectivity and voice assistant-enabled control will push audio & video consumer electronics segment, that accounted for 70% revenue share in 2019. The industry has slowed down, particularly in mature product categories such as laptops and TVs and as such, the consumer electronics market is facing turbulent times. Current market size of the consumer electronics and appliances industry: India and global The latest report from Grand View Research states that the global consumer electronics market is expected to reach US$ 838.85 billion by the end of 2020. To analyze the marketing of Apple by its marketing mix will encourage more consumer electronics business obtain success in the future. Consumer electronics include: computers, smartphones, cameras, video recorders, game consoles, GPS navigators, musical recording and playback equipment, and video media. According to the market data by the China Internet Network Information Center, internet penetration reached 61.2% in 2019, increasing by 1.6% compared to 2018. Investopedia uses cookies to provide you with a great user experience. Companies including Samsung, Apple, and LG suspended their production in several countries including India, Malaysia, and China to comply with government regulations and contain virus spread. Short product lifecycles and increasing product variants are posing significant challenges to the consumer electronics industry growth. For instance, in September 2019, Logitech International announced its plans to acquire San Francisco-based Streamlabs, Inc. Availability of low-cost consumer electronic products, such as smartphones and TVs, from several local brands is supporting their adoption in low income groups. Introduction. Several factors including disruptions in supply chain & logistics, restrictions on trade, and acute shortage of raw materials have hampered the production capacity of consumer electronics manufacturers. Radio broadcasting in the early 20th century brought the first major consumer product, the broadcast receiver. Get in touch with us for special pricing. Though the electronics sector is growing, primarily the semiconductor industry, due to increased consumer spending in emerging markets, the sector continues to become fragmented and competitive as the landscape changes, new technologies are introduced, and new entrants enter the market. Common items in the electronics sector include mobile devices, televisions, and circuit boards. Online stores, such as Amazon (AMZN), also compete for customer spending and offer products not available in traditional stores. With number of nuclear families on the rise, and other macro and micro economic factors changing for the better, it is a safe bet to say the industry will boom. The report includes a detailed analysis of the prevalent market situation, company profiles and industry trends for consumer electronics market used across various end-use applications segments such as residential and commercial. Electronics retail, however, is becoming increasingly competitive and fragmented from experiencing a unique set of challenges. Industries within the electronics sector include telecommunications, electronic components, industrial electronics, and consumer electronics. Asia's proportion of the market for electronics is expected to represent approximately half of the global market within the next several decades. 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