Consumer electronics is defined as any device with an
electronic circuit board that is designed for day-to-day operations, which
depend on the individual’s applications. Products such as such as telephone,
television, digital camera, alarm clock, MP3 player, smart phones, video
camera, laptops, numerous other home appliances, and so on are manufactured and
distributed by the consumer electronics industry. Thus, in this way, consumer
electronics plays a very important role in day-to-day life providing comfort to
the large extent. The primary functions of consumer electronics are
communication, entertainment, and increasing productivity.
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Today is the age of digitalization, where consumer
electronics plays a vital role in everybody’s day-to-day life. Consumers expect
a wide range of latest products which provide effective advantages along with
easy service, installation, and user-friendliness. These electronic goods are
generally used for personal and commercial purposes. The main focus of consumer
electronics is on media, entertainment, and industrial applications along with
medical industries. Rising demand for electronic products is the major driving
factor for the growth of consumer electronics market. The ability of the market
of providing the end-users with a wide range of product category depending on
their requirement and need at affordable costs is the major factor impacting
the growth of the market in a positive way. Emerging various innovative
technological advancements along with consumer acceptance of such technologies
is one of the driving factors influencing the global consumer electronics
market. Consumer’s inclination towards the want to get connected to everyone
from anywhere is also increasing the demand for consumer electronics products.
On the basis of product type, the global consumer
electronics market is segmented as televisions, digital cameras, radio
receivers, cameras, MP3 players, DVD players, video recorders, camcorders,
PDAs, and others. The others segment is further sub-segmented as personal
computers, telephones, video game consoles, calculators, mobile phones,
camcorders, audio devices, and many other home products. Audio-video equipment
segment dominates the global consumer electronics market. On the other hand,
the industrial sector is the major end-user of the consumer electronics
products and it is anticipated to dominate the market in the near future.
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North America is anticipated to witness the largest growth
in the global consumer electronics market which is followed by Asia Pacific and
Europe. Asia Pacific is expected to continue to dominate the market mainly
owing to increasing domestic demand in developing countries such as India and
China. In addition, increasing consumer awareness regarding niche innovative
technologies and booming industrial sector are other factors impacting the
global market in India in a positive way.
Some major players dominating the global consumer
electronics market are Apple, Sony, Samsung, Intel, Acer, Microsoft, Philips,
Nokia, Lenovo, and Hewlett-Packard (HP). Other key players influencing the
global market are LG Electronics, Panasonic, Toshiba, Hitachi, Asus, Siemens,
AMD, Sennheiser, and IBM.
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Consumer Electronics Market: Regional Segment Analysis
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North America
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U.S.
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Europe
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UK
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France
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Germany
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Asia Pacific
o
China
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Japan
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India
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Latin America
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Brazil
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Middle East and Africa
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