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.
Browse full research report on Global Personal Electronics Market: http://www.grandviewresearch.com/industry-analysis/personal-consumer-electronics-market
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 more reports of this category by
Grand View Research: 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
Consumer Electronics
Regional Outlook (Volume, Million Units & Revenue, USD Billion; 2012 -
2020)
- 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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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