Personal Consumer Electronics Market to grow by USD 92.66 billion from 2022 to 2027

NEW YORK, July 27, 2023 /PRNewswire/ -- The personal consumer electronics market size is forecast to increase by USD 92.66 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 5.04%, according to a recent market study by Technavio. The growth of the market will be driven by frequent product launches, the adoption of energy-efficient personal consumer electronics, and growing investment in R and D activities. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Apple Inc., Bajaj Electricals Ltd., Dell Technologies Inc., Electrolux AB, Fujitsu Ltd., Havells India Ltd., Hisense International Co. Ltd., Hitachi Ltd., HP Inc., Huawei Technologies Co. Ltd., Koninklijke Philips NV, Lenovo Group Ltd., LG Corp., Micromax Informatics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., Whirlpool Corp., and Xiaomi Communications Co. Ltd.

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Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Personal Consumer Electronics Market - Segmentation Analysis

The personal consumer electronics market report extensively covers market segmentation by product type (smartphones, tablets laptops and notebooks, portable devices, digital cameras, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The market share growth by the smartphones segment is significant for the market growth during the forecast period. The global consumer electronic segment comprises the market for smartphones with advanced computing and connectivity capabilities in addition to basic voice communication. Some of the key features which smartphones offer include internet access, multimedia capabilities, and a wide range of applications, all of which have become a vital part of daily modern life. There has been significant growth in the smartphone market due to advancements in technology, rising consumer demand, and an increased need for mobile services. Hence, such factors are expected to drive market growth during the forecast period.

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Personal Consumer Electronics Market - Market Dynamics

Key Drivers

Frequent product launches drive the personal consumer electronics market during the forecast period. There has been an increasing focus on the innovation of new products by several vendors in the market to cater to changing consumer demand for electronics. For example, in January 2023, Bespoke Infinite Line Refrigerator was launched by Samsung Electronics Co. Ltd. It is widely available in several models such as refrigerator, freezer, or wine cellar. Furthermore, in December 2021, Xiaomi Communications Company Ltd announced the launch of a smart TV X 75-inch model under its brand Redmi. Hence, such product innovations are expected to drive market growth during the forecast period.

Significant Trends

The rapid growth of the e-commerce industry is a key trend in the personal consumer electronics market during the forecast period. There has been significant growth in the e-commerce industry over the past few years as several companies are expanding their online presence. Additionally, the trend is expected to continue as more customers get used to online shopping. Hence, businesses are expanding their online presence, so they are able to connect with their audience through various channels. Additionally, the main advantage of online platforms is that customers have the option to choose from a wide range of products under different categories, price ranges, and brands. Hence, the emergence and growth of e-commerce platform is positively impacting the market, which in turn will drive the market growth during the forecast period.

Major Challenges

Fluctuation in prices of raw materials and operational costs is a significant challenge hindering the personal consumer electronics market growth during the forecast period. Some of the key factors influencing the market prices of consumer electronics include the cost of labor, raw materials, transportation, and promotion. Additionally, a major portion of this expense is accounted for by the prices of raw materials, labor, and production costs. There have been significant fluctuations in the prices of raw materials which are subjected to exchange rates and it can significantly impact the profit margin of manufacturers. Furthermore, the fluctuations of crude oil prices significantly impact the transportation cost of raw materials and final products. Hence, such volatility in price is expected to negatively impact the market, which in turn will drive market growth during the forecast period.

What are the key data covered in this Personal Consumer Electronics Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the personal consumer electronics market between 2023 and 2027

Precise estimation of the personal consumer electronics market size and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the personal consumer electronics market across APAC, Europe, North America, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of personal consumer electronics market vendors

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Personal Consumer Electronics Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.04%

Market growth 2023-2027

USD 92.66 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.54

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, India, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Apple Inc., Bajaj Electricals Ltd., Dell Technologies Inc., Electrolux AB, Fujitsu Ltd., Havells India Ltd., Hisense International Co. Ltd., Hitachi Ltd., HP Inc., Huawei Technologies Co. Ltd., Koninklijke Philips NV, Lenovo Group Ltd., LG Corp., Micromax Informatics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Toshiba Corp., Whirlpool Corp., and Xiaomi Communications Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global personal consumer electronics market 2017 - 2021

4.2 Product Type Segment Analysis 2017 - 2021

4.3 Distribution Channel Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product Type

6.1 Market segments

6.2 Comparison by Product Type

6.3 Smartphones - Market size and forecast 2022-2027

6.4 Tablets laptops and notebooks - Market size and forecast 2022-2027

6.5 Portable devices - Market size and forecast 2022-2027

6.6 Digital camera - Market size and forecast 2022-2027

6.7 Others - Market size and forecast 2022-2027

6.8 Market opportunity by Product Type

7 Market Segmentation by Distribution Channel

7.1 Market segments

7.2 Comparison by Distribution Channel

7.3 Offline - Market size and forecast 2022-2027

7.4 Online - Market size and forecast 2022-2027

7.5 Market opportunity by Distribution Channel

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 India - Market size and forecast 2022-2027

9.12 Japan - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Apple Inc.

12.4 Bajaj Electricals Ltd.

12.5 Dell Technologies Inc.

12.6 Electrolux AB

12.7 Hitachi Ltd.

12.8 HP Inc.

12.9 Huawei Technologies Co. Ltd.

12.10 Koninklijke Philips NV

12.11 Lenovo Group Ltd.

12.12 LG Corp.

12.13 Panasonic Holdings Corp.

12.14 Samsung Electronics Co. Ltd.

12.15 Sony Group Corp.

12.16 Toshiba Corp.

12.17 Whirlpool Corp.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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SOURCE Technavio