Consumer Electronics Market Size to Touch US$ 1.13 Trillion By 2030

The consumer electronics market size exceeded 724.48 billion in 2021 and is projected to reach US$ 1.13 trillion by 2030, growing at a CAGR of 5.1% every year, according to a 2021 study by Precedence Research, the Canada-based market Insight Company.

Consumer Electronics Market Size 2022 to 2030

The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2022 to 2030. The consumer electronics market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). 

The surging demand for the various home improvement products and electronic devices for the personal and professional use is driving the demand for the consumer electronics across the globe. The rising disposable income, higher demand for the luxury products, technological developments, and improvement in the standard of living are some of the prominent factors that drive the growth of the global consumer electronics market.

Furthermore, the miniaturization of the electronic devices is gaining rapid traction among the consumers across the globe. Furthermore, the manufacturers are focusing on the development of convenient and easy to use electronic devices and are investing heavily on the research and development for the introduction of new and innovative features in their products.

For instance, in August 2020, Samsung introduced its new AI-based washing machine that helps the user to customize washing cycles. The presence of the numerous manufacturers and the easy availability of all the brands is a prominent factor that drives the sales of the market.

Consumer Electronics Market Scope
Report Coverage Details
Market Size by 2030 USD 1.13 trillion
Growth Rate from 2022 to 2030 CAGR of 5.1%
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Consumer Electronics Market Highlights
  • Based on the product, the smartphone segment dominated the global consumer electronics market. This is attributed to the increased product acceptance and the introduction of numerous innovative features in the smartphones overtime. The presence of multi-functions in the smartphones has significantly boosted the demand for the smartphones among the consumers for personal as well as professional use.
  • Based on the distribution, the online is estimated to be the most opportunistic segment. The surging penetration of the e-commerce, rising access to internet, growing urban population, and rising adoption of smartphones are the major factors that drives the growth of the online distribution segment. According to the ITU, around 4 billion people had access to the internet in 2019 and this number is rapidly growing across the globe.
Consumer Electronics Market: Regional Snapshot

North America dominated the global consumer electronics market in 2020. This is simply attributed to the various factors such as high disposable income, huge demand for the high-end products, increased adoption rate of the latest technologies, presence of several leading manufacturers of the electronics, and the high standards of living. The latest advancements in the various electronic products is expected to drive the growth of the North America consumer electronics market in the forthcoming years.

Asia Pacific is the fastest-growing market. The presence of huge customer base, rising disposable income, rising penetration of the e-commerce, and cheap availability of various electronic gadgets. The countries like China and Taiwan specializes in the production of numerous consumer electronics at low cost.

Asia Pacific is the manufacturing hub of the globe. The presence of skilled labors at cheap rates and easy availability of raw materials attracts FDIs. The rapid industrialization has played a significant role in the market growth. Moreover, the increasing penetration of the credit cards is expected to drive the demand and sale of the consumer electronic products in Asia Pacific during the forecast period.

Consumer Electronics Market Dynamics

Driver

Growing demand for the home appliances

The demand for the advanced home appliances is growing at a significant rate. The rising consumer expenditure in the modular kitchens and home improvement products is significantly propelling the market growth. Moreover, the easy availability of the desired products through the e-commerce is a major factor that is expected to drive the market growth during the forecast period.

Read Also: B2C E-Commerce Market Size to Hit Around US$ 7.45 Trn By 2030

Restraint

Shortages of semiconductors

The globe is currently witnessing a huge shortage of semiconductors. Semiconductors are the major components of almost all the electronic devices across the globe. The huge gap between the demand and supply of the semiconductors may result in the high prices of the semiconductors and also leading to the production cuts of the major manufacturers. Therefore, the shortages of semiconductor across the globe is a major hindering factor.

Opportunity

Introduction of latest technologies

The proliferation of digital technologies has encouraged the integration of the latest technologies such as AI, cloud computing, Wi-Fi, augmented realty, and virtual reality in a wider range of consumer electronics. These advancements are expected to offer huge growth opportunities to the market players.

Challenge

Lack of electrification

There is a lack of electricity in the rural areas of the developing and underdeveloped countries. Therefore, the lack of electrification is restricting the adoption of the advanced consumer electronic products that may hinder the market growth.

Some of the prominent players in the global consumer electronics market include:

  • Apple Inc.
  • Canon Inc.
  • Dell Inc.
  • Samsung Electronics Co., Ltd.
  • Panasonic Corporation
  • Sony Corporation
  • Koninklijke Philips N.V.
  • Lenovo Inc.
  • Hewlett-Packard Company
  • Oneplus
  • AB Electrolux
  • LG Corporation
  • Google Inc.
  • Microsoft Corporation
  • Hitachi Ltd.
  • Robert Bosch GmbH
  • Sennheiser Electronics
  • Siemens AG Logitech International S.A.
  • OPPO
  • ZTE Corporation

Segments Covered in the Report

By Product

  • Smartphones
  • Desktops
  • Tablets
  • Laptops & Notebooks
  • Digital Cameras
  • eReaders
  • HDD
  • Television
  • Refrigerators
  • Washing machine
  • Air Conditioners
  • Others

By Distribution Channel

  • Online
  • Offline

By Application

  • Personal
  • Professional

By Technology

  • Near Field Communication (NFC)
  • Magnetic Secure Transmission (MST)
  • Artificial Intelligence
  • VR (Virtual Reality) Technology
  • Generation PCL Technology
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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 TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Consumer Electronics Market 

5.1. COVID-19 Landscape: Consumer Electronics Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Consumer Electronics Market, By Product

8.1. Consumer Electronics Market, by Product Type, 2022-2030

8.1.1. Smartphones

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Desktops

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Tablets

8.1.3.1. Market Revenue and Forecast (2017-2030)

8.1.4. Laptops & Notebooks

8.1.4.1. Market Revenue and Forecast (2017-2030)

8.1.5. Digital Cameras

8.1.5.1. Market Revenue and Forecast (2017-2030)

8.1.6. eReaders

8.1.6.1. Market Revenue and Forecast (2017-2030)

8.1.7. HDD

8.1.7.1. Market Revenue and Forecast (2017-2030)

8.1.8. Television

8.1.8.1. Market Revenue and Forecast (2017-2030)

8.1.9. Refrigerators

8.1.9.1. Market Revenue and Forecast (2017-2030)

8.1.10. Washing machine

8.1.10.1. Market Revenue and Forecast (2017-2030)

8.1.11. Air Conditioners

8.1.11.1. Market Revenue and Forecast (2017-2030)

8.1.12. Others

8.1.12.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Consumer Electronics Market, By Distribution Channel

9.1. Consumer Electronics Market, by Distribution Channel, 2022-2030

9.1.1. Online

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Offline

9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Consumer Electronics Market, By Application Type 

10.1. Consumer Electronics Market, by Application Type, 2022-2030

10.1.1. Personal

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Professional

10.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Consumer Electronics Market, By Technology Type 

11.1. Consumer Electronics Market, by Technology Type, 2022-2030

11.1.1. Near Field Communication (NFC)

11.1.1.1. Market Revenue and Forecast (2017-2030)

11.1.2. Magnetic Secure Transmission (MST)

11.1.2.1. Market Revenue and Forecast (2017-2030)

11.1.3. Artificial Intelligence

11.1.3.1. Market Revenue and Forecast (2017-2030)

11.1.4. VR (Virtual Reality) Technology

11.1.4.1. Market Revenue and Forecast (2017-2030)

11.1.5. Generation PCL Technology

11.1.5.1. Market Revenue and Forecast (2017-2030)

11.1.6. Others

11.1.6.1. Market Revenue and Forecast (2017-2030)

Chapter 12. Global Consumer Electronics Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Product (2017-2030)

12.1.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.1.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.1.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.1.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.1.5.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.1.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.1.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.1.6.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.1.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.2.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.2.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.2.5.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.2.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.2.6.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.2.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.2.7.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.2.7.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.2.8.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.2.8.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.3.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.3.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.3.5.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.3.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.3.6.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.3.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.3.7.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.3.7.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.3.8.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.3.8.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.4.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.4.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.4.5.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.4.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.4.6.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.4.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.4.7.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.4.7.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.4.8.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.4.8.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.5.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.5.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.5.5.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.5.5.4. Market Revenue and Forecast, by Technology Type (2017-2030)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.5.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

12.5.6.3. Market Revenue and Forecast, by Application Type (2017-2030)

12.5.6.4. Market Revenue and Forecast, by Technology Type (2017-2030)

Chapter 13. Company Profiles

13.1. Apple Inc.

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Canon Inc.

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Dell Inc.

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Samsung Electronics Co., Ltd.

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. Panasonic Corporation

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Sony Corporation

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Koninklijke Philips N.V.

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Lenovo Inc.

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Hewlett-Packard Company

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Oneplus

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

13.11. AB Electrolux

13.11.1. Company Overview

13.11.2. Product Offerings

13.11.3. Financial Performance

13.11.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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Frequently Asked Questions:
What is the current size of consumer electronics market?

According to Precedence Research, the global consumer electronics market size was reached at US$ 724.48 billion in 2021 and is anticipated to surpass US$ 1.13 trillion by 2030.

What will be the CAGR of global consumer electronics market?

The global consumer electronics market is expected to drive growth at a CAGR of 5.1% over the forecast period 2022 to 2030.

Who are the major players operating in the consumer electronics market?

The major players operating in the consumer electronics market are Apple Inc., Canon Inc., Dell Inc., Samsung Electronics Co., Ltd., Panasonic Corporation, Sony Corporation, Koninklijke Philips N.V., Lenovo Inc., Hewlett-Packard Company, and Oneplus.

Which are the driving factors of the consumer electronics market?

The surging demand for the various home improvement products and electronic devices for the personal and professional use is driving the demand for the consumer electronics across the globe.

Which region will lead the global consumer electronics market?

North America dominated the global consumer electronics market in 2021 and will remains its dominance over the forecast period.

Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.