The global consumer electronics industry is expected to register considerable growth over the forecast period 2019-2025. Surging demand for products such as televisions, smartphones, and wearable devices is one of the primary driving factors for the global consumer electronic market. Moreover, rising disposable income coupled with increasing adoption of smart devices, technology proliferation, development of semiconductor industry, and increasing penetration of internet of things (IoT) are further fueling the growth of the consumer electronic market. The report analyzes the global consumer electronics market on the basis of product type and geography. Based on product type, the market is classified into smartphones and tablets, desktops, laptops/notebooks, televisions, cameras and camcorders, audio/video devices, gaming consoles and accessories, home appliances, and others. Other product type includes wearable electronics such as smartwatches and virtual reality and augmented reality gears. 

Geographically, the market is analyzed into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to contribute major market share in the global consumer electronic market. Rapid urbanization, increasing disposable income of people, and presence of several key market players such as Samsung, Panasonic, Sony, Huawei, Hitachi, and several others are influencing the market growth of the region. However, industry is facing heavy headwind due to outbreak of COVID-19 across the globe. China has been hit hard by spread of the virus as the country is an epicenter of the COVID-19. Not only China, several major economies including the US, South Korea, Japan, and Italy are also under threat of COVID-19 outbreak and so is their consumer electronic industry. Retail shops and showrooms of major brands, super markets, and hypermarkets have been shut down for a definite period of time affecting sales of various consumer electronics products. For instance, Samsung Electronics America, announced to temporarily close all its US and Canadian store from 19th March 2020. 

Apart from this, COVID-19 has also disrupted the global supply chain of the major consumer electronic brands. China is the largest the largest consumer and producer of various consumer electronics products but also caters to a wide range of countries by exporting several input supplies that are essentially used to produce finished goods. Shut down of the production in China has forced other consumer electronics makers based in the US and Europe to temporarily hold the production of the finished goods. This is leading to the increase in the supply and demand gap. Furthermore, the report profiles several players that are contributing to the global Consumer Electronics industry. Some of the key players of the market include Apple Inc., Canon Inc., GoPro Inc., Hitachi Ltd., Huawei Technologies Co. Ltd., LG Electronics Inc., Nikon Corp., Panasonic Corp., Samsung Electronics Co., Ltd., Sennheiser electronic GmbH & Co. KG, Sony Corp., Toshiba Corp., and several others.

Research Methodology

The study on the consumer electronics industry is incorporated by extensive primary and secondary research conducted by the research team. In secondary research, different approaches have been adopted to derive the market value, market growth rate and analysis trends in the industry due to the COVID-19 pandemic. In the report, the analysis of the country is provided by analyzing various regional players, laws & policies, consumer behavior, macro-economic factors and impact of the pandemic. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures. 

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the global consumer electronics industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global consumer electronics industry.
• Insights about market determinants that are stimulating the global consumer electronics industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.