Consumer Electronics Market: Production, Sales, Supply, Demand, Analysis & Forecast to 2020

Smartphones will Dominate Global Consumer Electronics Revenues

Smartphones will continue to be the highest selling smartphones, with global revenues projected to reach US$ 768 Bn in 2017, up from US$ 544.2 Bn in 2015. Bulk of these smartphone sales will occur in China and India. China, the largest smartphone market, will continue to witness higher sales of domestic players, as they have a huge cost advantage over their multinational peers. Global smartphone revenues are anticipated to reach US$ 777 Bn in 2017, up from US$ 544.2 Bn in 2015, with a high percentage of sales revenue coming from China and India. Tablets and digital media adapters are the other segments that are expected to grow at a high rate during the forecast period. In contrast, feature phones, will continue their downward spiral with global revenues decreasing by 5.3% CAGR through 2020.

While Asia Pacific will remain at the forefront of global demand, markets in Latin America and Eastern Europe will grow at high double-digit CAGRs during the forecast period. The consumer electronics market in North America will grow at 13.2% CAGR, the lowest among all the regions. Middle East & Africa (MEA) currently the smallest market in terms of global revenues, will surpass Japan to become a US$ 200 Bn market by 2020.

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Rising disposable income among the middle class in China and India is expected to create steady demand for consumer electronics, such as smartphones, tablets, and TVs. Demand in developed markets of North America and Europe will be influenced by technological upgrades to existing models.

Growing internet penetration in developing countries can lead to an increased demand for smartphones, tablets, and laptops. Video on Demand (VoD) and internet-only shows are gaining popularity in Asia Pacific. This is influencing consumers to shift to larger displays, and in turn, boosting tablet, phablets, and laptop sales.

Outside of Asia Pacific, markets in Latin America, Middle East, and Africa will remain lucrative for low-cost consumer electronics. A significant percentage of new sales in these markets will come from rural consumers, many of who are yet to buy their first smartphone.

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Global Consumer Electronics market is classified into consumer electronic device, wearable device and smart home device. Consumer electronic devices are the devices which contain electronic circuit boards used by individuals in day-to-day life. It comprises a wide range of products, including Smart-phone, digital cameras, televisions, DVDs, tablets, camcorders, printers, and many more. Wearable devices are user-friendly and autonomous in nature. They can be connected to the Internet wirelessly via a third party tool. Smart home device include intelligent security system, HVAC system and smart kitchen appliances that can be controlled via iOS or Android device and turn a home into smart and connected home.

In the next section, FMI covers the Global Consumer Electronics market performance in terms of Global Consumer Electronics market revenue split, since this is detrimental to growth of the Global Consumer Electronics market. This section additionally includes FMI’s analyses of the key trends, drivers and restraints from the supply and demand side, which are influencing the Global Consumer Electronics market. Impact analysis and latest technological trends opportunity assessment is included in the Global Consumer Electronics market report to better equip and arm clients with crystal clear decision-making insights.

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