Consumer Electronics Market, By Type (Televisions, Handheld Devices, Personal Computers, Cameras & Camcorders, Audio Devices & Video Devices, Personal Care Products, and Gaming Consoles) By End-User (Residential and Commercial) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis & Forecast till 2034

Consumer Electronics Market was valued at US$ 1203.9 Billion in 2024 and is projected to grow at a CAGR of 6.70% to reach US$ 2299.7 Billion by 2034.

Electronic devices such as smart phones, home appliance, audio/video device proposed for daily utilize by consumers are called consumer electronic devices. Consumer electronics include a large set of electronic devices that recommend one or more functionalities in a home or meant for a particular entity. The term firstly referred to electronic devices that are installed or used exclusively inside a home/house, office, business areas etc. However, they too now include mobile and computing devices, which can easily be carried by an individual outside the home, such as a cell phone or a tablet PC. Consumer electronics include items, such as televisions, DVD players, refrigerators, washing machines, computers, laptops, tablets etc. The growing convergence of information, communication and entertainment is bringing a new era of consumer electronics across the world. Consumer electronics is one of the largest segments in the manufacturing industry and promises huge potential, particularly in emerging markets.

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Growing inclination toward using smart electronic devices among individuals, coupled with increase in need of internet by consumers across the globe is boosting the growth of the target market. Also, growing R&D in consumer electronics and technological gadgets, are also be some of the highest up drivers to the consumer electronics market growth. On the other hand, lack of networking power and recovering economies for the developing nations around the globe, may count down the value of the target market. Governments around the world are also using the time sustaining digitalization, ultimately promoting opportunities, for the usage of various electronic devices among consumers. This is projected to grow the consumer electronics market on a global level.

Consumer electronics market has been segmented into type, end user, and region. On the basis of type, the target market includes televisions, handheld devices, personal computers, cameras and camcorders, audio devices & video devices, personal care products, and gaming consoles. On the basis of end user type, it could be personal or commercial user.

Regional Insights:

On the basis of region, the consumer electronics market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America where, U.S, Canada are the highest in economy, serving more electronic gadgets to the consumers in the region. The European digital market is considered one of the largest markets worldwide and still has the potential to expand more in the forecast period. Countries in Europe having high electronic growth are Germany, U.K, France, Italy, and Russia.Asia Pacific to remain the most lucrative and money-spinning regional market where China, India, Japan, South Korea are having the highest economic growth rate. With respect to electronic sales, it is expected to anticipate and remain so, over the forecast period as well.

Key market players of the consumer electronics market includes HP Inc., Apple Inc., Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics Inc., Panasonic Corporation and Hitachi Ltd., and Toshiba Corporation, Canon, Inc., Apple, Inc.