Consumer electronics (CE) are the electronic devices which are manufactured and used by the end users or the consumers for daily, business and professional purposes. These devices are used for the communications (telephones, e-mail-capable laptops and cell phones) entertainment (DVD players, remote control cars and flat screen TVs, video games) and home-office activities (desktop computers, paper shredders and printers). The home appliances or consumer electronics are the machines using electrical & mechanical machines used in the household functions such as cooking, food preservation and cleaning. These offers benefits such as improved lifestyle, secure & safe, easy to manage & operate, convenient, decision making support, and increasing insight into the behavior.
According to study, “Global Consumer Electronics & Appliances Market Size study, by Product (Consumer Electronics, Consumer Appliances), by Distribution Channel (Electronic & Specialty Retailers, Hypermarkets, Online) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global consumer electronics & appliances market are Electrolux AB, LG Electronics Co. Ltd., Haier Electronics, Whirlpool Corp., Samsung Electronics Co. Ltd., Robert Bosch.
Based on the products, the global consumer electronics & appliances market is segmented into consumer appliances and consumer electronics. Consumer home appliances include microwaves, dishwashers, coffee machines, vacuum cleaners, refrigerators, washing appliances and others. Consumer electronics includes desktops, tablets, smart-phones, digital cameras, e-readers, laptops or notebooks and hard disk drives or HDD. Based on the distribution channel, market is segmented into hypermarkets, electronics & specialty retailers, direct selling and online channel. Based on end-user, the market is breakdown into offices & school, household and others.
The global consumer electronics & appliances market is driven by increase in the disposable income. Some of the other driving aspects include rise in the urbanization of individuals, expansion of the middle class families, adoption of IoT technology, increase in innovation & emergence of the advanced technologies such as 3G & 4G smart-phones and increase in the internet penetration activity. The continuous technological innovations has led to the e-waste generation, lack of awareness from consumers (in terms of operability & convenience offered), followed by the high product costs and stringent government regulation are the factors that are impacting the growth of the market.
Globally, the Asia-Pacific region is the significant in terms of the market share as a result of high purchasing power of consumer and enormous surge in the uptake of devices such as tablets, smart-phones and laptops in the region. In the coming years, it is anticipated that the global consumer electronics market to grow at a significant pace due to the rising adoption of IoT technology.
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Ankur Gupta, Head Marketing & Communications