Global Consumer Electronics Market to Register 15.4 CAGR between 2015 and 2020: Future Market Insights
This Future Market Insights report examines the Global Consumer Electronics market for the period 2015–2020. The primary objective of the report is to offer updates on the advancements in consumer electronic devices and other smart devices that have given rise consumer electronics adoption across globe.
Valley Cottage, New York – Future Market Insights (FMI), released its recent research report titled, “Consumer Electronics Market: Global Industry Analysis and Opportunity Assessment, 2015 – 2020”. According to the report, the global consumer electronics market accounted for US$ 1,224.8 Bn in 2014 and is projected to account for US$ 2,976.1 Bn by 2020, registering a healthy CAGR of 15.4%.
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The key drivers for the growth of the global consumer electronics market include, increasing disposable income, expanding urban population, growing internet penetration, and increasing government support.
On the basis of device type, the global consumer electronics market is segmented into consumer electronics device, wearable device, and smart home device. Consumer electronic device segment accounted for over half of the global consumer electronics market revenue in 2014; however, this segment is projected to experience a decrease of 40 BPS by 2020.
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In the consumer electronics device segment, smartphone and personal computer sub-segments together accounted for over 45% share of the global consumer electronics market in 2014. Additionally, the smartphone sub-segment is anticipated to exhibit the fastest CAGR of 21.7% during the forecast period, followed by the tablet sub-segment. This growth is attributed to the shift from feature phone to smartphone, increasing internet penetration, and growing trend of mobile shopping and mobile banking across the globe.
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Region-wise, Asia-Pacific excluding Japan (APEJ) dominated the market with over one-fourth share of the overall global consumer electronics market in 2014. APEJ was followed by the Eastern Europe and Latin America, which accounted for over 10% share each.
Key players in the global consumer electronics market are Apple Inc., Samsung Electronics Co. Ltd., HP Inc., LG Electronics Inc., Sony Corporation, Toshiba Corporation, Panasonic Corporation and Hitachi Ltd.
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