The consumer electronics market is divided into six segments: television, radio and multimedia, television peripherals, drones, phones, gaming equipment, and computing. This report covers the global consumer electronics market growth potential, market drivers, consumer insights, key players, and future developments.
In 2023, the revenue generated by the global consumer electronics market reached a staggering USD 955.5 billion. The market is projected to experience an annual growth rate of 2.91% from 2024 to 2029 (CAGR 2024-2029). The largest segment of the consumer electronics market is telephones, with a market size of USD 498.3 billion in 2023. Comparing the revenue of each country, it is noteworthy that China generates the highest revenue with USD 210.5 billion in 2023. According to demographic statistics, in 2023, each person will contribute approximately USD 124.4 to the total revenue of the consumer electronics market.
This report details:
Market segmentation and how the telephony sector dominates the market due to mobile phone sales Various market drivers such as smartphone and smart home penetration and their significant impact on the overall market Intelligent devices, movies, etc. Optimum picture and sound quality for a great TV experience and independent media streaming play for global customers Competing with major players such as Apple and Samsung as Chinese manufacturers enter the market and boast high growth rates Key market trends such as the digital ecosystem, virtual and augmented reality, consumer drones, and voice assistants are intensifying
