The global consumer electronics market is expected to reach USD 838.85
billion by 2020, according to a new study by Grand View Research, Inc. Recent
technological advancements have led to the miniaturization of smart devices,
and are expected to be key factor driving the consumer electronics industry.
High investment, availability of cost effective devices due to mass production,
and a range of diverse applications are also expected to be the key growth
drivers.
Consumers are narrowing their technology interest
to devices that offer multiple functions. Single-function products such as
portable music players, digital cameras, etc. have witnessed considerable
decline owing to the advent of multi-function devices. For example, there has
been a considerable rise in smartphone ownership in 2013, while ownership of
digital cameras has declined. End users have become more platform-agnostic as
they are open to experimenting with different platforms such as Windows,
Android and iOS, which is also expected to catapult consumer electronics market
demand over the forecast period.
Increasing penetration of BYOD has presented
growth avenues. Long-battery life, processors and large screens along with
other value-added features is also expected to favorably impact personal
electronics market growth over the next few years. Consumer electronics
manufacturers focus on gaining a level of insight into service adoption on
smartphones and related pricing strategies to target end users.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/personal-consumer-electronics-market
Global personal electronics market by product, 2012 – 2020 (Million units)
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Further
key findings from the study suggest:
- The smartphone market is poised for high growth over the next six years, which may be attributed to increased emphasis on devices integrating several advanced features such as audio, GPS and high-end cameras. Emerging concepts such as pervasive computing along with several communication technologies, including 4G/5G LTE are also expected to drive demand.
- Laptops, desktops, and notebooks accounted for considerable revenue share in 2013. Introduction of new low end-devices and affordability are key factors driving the tablet market growth. The overall increase is also expected to stem from substitution of conventional laptops with tablets
- Digital camera market sales may witness a decline over the next few years. Consumer preference for devices such as smartphones that offer multi-functionality is expected to hinder the digital camera market.
- Asia Pacific consumer electronics market captured sizable volume share, which can be primarily attributed to high demand in China and India as well as considerable product penetration in the region.
- Key industry players such as Samsung, Apple, LG, Huawei and ZTE focus on providing a wide product portfolio and product differentiation as a core business strategy. Sales and distribution activities involve a mix of direct sales, distributors and third-party representatives, retail outlets, independent dealers etc. Distribution activities have become a key area of focus for all companies owing to wide adoption of these products.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the global
consumer electronics market on the basis of product and region:
Consumer Electronics Product Outlook (Volume, Million Units &
Revenue, USD Billion; 2012 – 2020)- Smartphones
- Tablets
- Laptops/Notebooks
- Desktops
- Digital Cameras’
- Hard Disk Drives (HDD)
- E-readers
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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