Consumer Electronics

The consumer electronics market was valued at over US$ 1.7 trillion in 2016 and is expected to cross 3.8 trillion by 2024. Products categorized as consumer electronics are smartphones, tablets, computers, televisions, game consoles, digital cameras, automotive technologies, wearable technologies, 3D printers, and other home products.

Urbanization has led to an increase in the average income of the middle class population across the globe. As per stats provided by the Global Economy & Development Working Paper by Brookings Institution in February 2017, global middle class population was over 3 billion in 2015 and is projected to surpass 5 billion by 2030. This has led to substantial increase in discretionary income and large potential consumer base, resulting in increased spending on automated home products and electronics. Growing multi-channel retailing has provided easy access to the major international and domestic brands for consumers worldwide. These factors are predicted to fuel the growth of the consumer electronics market.

Advent of IoT and next generation connectivity technologies such as 3G, 4G, 4G LTE, and 5G are creating a conducive environment for proliferation of smart connected devices. Plummeting costs of bandwidth and sensors is expected to support growth of smart devices and provide impetus to the overall consumer electronics industry. According to Golman Sachs, as of 2014, the cost of bandwidth and sensors has decreased considerably over the last decade. Increasing purchasing power and rampant decline in prices of consumer electronic devices has placed the consumer electronics industry on a high-growth trajectory.

Smartphones

Smartphones account for around half of the consumer electronic product sales revenue. An estimated 2.1 billion smartphone users were reported worldwide in 2016. However, growth of the segment is expected to be largely stagnant due to maturing of the smartphones industry. The recent past has witnessed the emergence of various cost-effective smartphones from various new brands, offering good processing power and security features. This has resulted in a paradigm shift in the industry, with consumers from extreme ends of the spectrum, namely feature phone users and high-end smartphone users, inclining towards cost-effective smartphones. China is the largest market for smartphones, while India is projected to be the fastest growing market. Apple and Samsung are two of the largest smartphone manufacturers.

Increasing functionality of the smartphones has led to significant surge in power demands for these consumer electronics. Conventional batteries have proved insufficient in terms of space and power backup, leading to major reason for consumer dissatisfaction. Innovative methodologies to solve these problems are surfacing, that include concepts like wireless charging, li-imide batteries, Quick Charge 2.0 (by Qualcomm), super capacitors, battery packs (Trontium Reactor can charge an iPhone 50 times), and ultra-fast charging (such as StoreDot). Major of these technologies are still in their nascent stages but players are likely to increasingly invest in improving the operation time of their devices. For instance, in February 2016, Intelligent Energy partnered with an emerging smartphone manufacturing to develop an embedded hydrogen fuel cell for smartphones that can power smartphones for a week. This joint development agreement (JDA) was valued around US$ 7.5 million.

Personal consumer applications

TFT LCD, IPS-LCD, resistive touchscreen LCD, capacitive touchscreen LCD, OLED, AMOLED, and Super AMOLED are the common types of smartphone displays. 720p, 1080p, 2K and 4K Ultra HD are few of the standard resolutions offered by these mobile display technologies. AMOLED are gaining substantial popularity in high end phones owing to better color reproduction, low power consumption, better battery life, higher brightness, lightweight designs and display sharpness. Super AMOLED, developed by Samsung, is integrated with touch sensors on the screen making it the leanest display technology in the industry. Increased damage resistance, economical availability and better user experience are the factors that are likely to influence sales of smartphones over the next few years.

Television sales were over US$ 116 billion in 2016 however they declined in 2017 owing to proliferation of content streaming on mobile devices and video on-demand services such as Netflix. Ease of access to content and better user experience through mobile, laptops, tablets, etc. is projected to favor the market growth. High initial cost of smart and high resolution TVs is expected to hamper consumer demand over the coming years. However, demand for low cost alternatives such as LCD TVs is projected to continue.

Technological innovations such as electronic paper (or e-paper) and foldable displays are expected to gain significant momentum over the next few years. E-Paper is a display technology that imitates the appearance of ink on paper. Additionally, these displays can show image in absence of light and are featured to consume little or no power by displaying a still image. Such technological advancements are expected to drive the adoption of foldable displays. Wearable technologies find considerable potential in the healthcare sector for recreational activity tracking and infotainment through products such as fitness trackers, smart watches, and headphones. In consumer electronics, wearable technologies are expected to present the highest growth trend over the near future.

White Goods

All kinds of domestic appliances such as refrigerators, washing machines, air conditioners, microwave, induction cooktops, food processors, dishwashers and dryers are included in white goods. The advent of smart connectivity integration into these appliances is expected to facilitate growth of this segment. Increased energy efficiency offered by the next generation products and improving living standards are predicted to positively impact the market growth.

Smart thermostats, connected security cameras, and VR/AR headsets are other industry segments that will present potential growth opportunity over the forecast period. However, the consumer electronics market size is expected to decline substantially owing to the maturing smartphones market.

Industry Overview

Chief contributors to the industry include Samsung Electronics, LG Electronics, Apple, Hitachi, Koninklijke Philips, Sony Corporation, HP Inc., Toshiba Corp., and Panasonic among others. Industry presence can be largely attributed to established brands across the international industry along with few regional brands holding significant industry share.

Players operating in the consumer electronics market are focused on product innovation and development to increase their product appeal. Furthermore, strategic collaborations and partnerships among market players to enhance their market presence is also expected to favor the market growth. Moreover, governments in several major economies are focusing on digitization which is predicted to create growth opportunities for the manufacturers of smartphones and other portable devices. Singapore, Finland, Sweden, Norway, and U.S. are among the major economies harnessing digitization.

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Consumer Electronics Published Insights

Coherent Market Insights Residential Robotic Vacuum Cleaner Market

Published Date : Aug 2023

Residential robotic vacuum cleaners provide an alternative to the traditional methods of cleaning premises like house floors, shop floors, lawns, pools, community premises, etc. These devices include components like a mobile platform that allows the robotic vacuum cle... View more

Coherent Market Insights Computer Keyboards Market

Published Date : Jul 2023

The computer keyboard market had been experiencing significant growth due to the expanding use of computers and digital devices worldwide.Computer keyboards serve as essential input devices for various computing tasks, ranging from typing documents and browsing the in... View more

Coherent Market Insights Digital Signage Market

Published Date : Jul 2023

Global digital signage market refers to the industry that involves in the creation, deployment, and management of digital displays or screens that are used for advertising, information dissemination, and interactive experiences. Digital signage utilizes various techno... View more

Coherent Market Insights Architectural Led Products Market

Published Date : Jul 2023

The global architectural LED products market pertains to the industry involved in designing, manufacturing, and distributing LED lighting solutions tailored specifically for architectural purposes. These LED products are utilized to illuminate and enhance the visual a... View more

Coherent Market Insights Commercial Refrigeration Equipment Market

Published Date : Jul 2023

Commercial refrigeration equipment is an integral part of several retail industries. Commercial refrigeration equipment consists of several components, including compressors, evaporators, condensers, and refrigerants, which work in a sequential manner to provide refri... View more

Coherent Market Insights Africa Mobile Phone Accessories Market

Published Date : Jul 2023

Mobile phone accessories are additional accessories that can be used in order to gain more range of capabilities from a mobile phone. These accessories include headphones and earphones, protective cases, stands, portable speakers, and Bluetooth accessories. ... View more

Coherent Market Insights Electronic Lab Notebook Market

Published Date : Jun 2023

The electronic lab notebook (ELN) market has witnessed significant growth and evolution in recent years, driven by advancements in technology and increasing digitization across various industries. An electronic lab notebook is a digital version of a traditional paper ... View more

Coherent Market Insights Set Top Box Chipset Market

Published Date : Jun 2023

Set top box is a hardware device that receives a digital signal and convert that signal into analog single by using onboard chipsets. The analog signal is further transmitted to TV as input signal. The chipset consists of various components including memory, input &am... View more

Coherent Market Insights Hvac Equipment Market

Published Date : Jun 2023

A hybrid HVAC system includes appliances that are designed to perform at least one critical function. Unitary HVAC systems can supply both heating and cooling, with the primary heating process being conducted using electricity. A similar situation can occur with venti... View more

Coherent Market Insights Household Induction Cooktops Market

Published Date : May 2023

A household induction cooktop is an electronic appliance that uses an electromagnetic field for heating a cooking pan. Over the forecast period, the increasing need for energy and time-saving cooking appliances and the shifting inclination towards modular kitchens are... View more

Coherent Market Insights Uv Led Market

Published Date : May 2023

The term UV LED refers to a type of light-emitting diode that emits ultraviolet (UV) radiation. This energy can be used for a variety of applications. Whether it’s to disinfect, sterilize, or purify a water supply, the right wavelength is essential for ensuring ... View more

Coherent Market Insights Rugged Display Market

Published Date : May 2023

Rugged Display is a type of Human Machine Interface (HMI) that offers a high-performance display and touchscreen, designed to operate in harsh, demanding environments. It is typically used in industries such as defense and aerospace, transportation, healthcare and oth... View more

Coherent Market Insights India Mobile Phone Accessories Market

Published Date : May 2023

Mobile phone accessories are available in many forms and varieties. These are designed to enhance the capabilities of cell phones, and make them stand out from their competitors. Some of t... View more

Coherent Market Insights Wireless Audio Devices Market

Published Date : May 2023

Wireless speakers are majorly being adopted from past few years, allowing users to stream audio from a various devices to speakers using a wireless connection. Recently, along with developments in Bluetooth specification and the standardization of A2DP (Advanced Audio... View more

Coherent Market Insights North America Air Conditioning Systems Market

Published Date : Apr 2023

Air conditioning is a refrigerant machine that remove excess amount of heat and moisture from the air and replaced with coolant air in an enclosed space. Basically, this system consists evaporator and condenser coils, fan, chemical refrigerant and compressor. The air ... View more

Coherent Market Insights Mems Microphone Market

Published Date : Jan 2023

Microphones are widely used in the consumer electronic items such as mobile phones, headsets, and IoT devices. Micro-electromechanical system or MEMS microphones are constructed with MEMS component placed on a printed circuit board (PCB) and protected with a mechanica... View more

Coherent Market Insights Portable Battery Pack Market

Published Date : Jan 2023

A power bank is a portable device that can supply power from its built-in battery through a USB port. Power banks are popular for charging USB charged devices and can be used as a power supply for numerous USB devices such as small fans and lights. Generally, they rec... View more

Coherent Market Insights Head Mounted Displays Market

Published Date : Jan 2023

A head-mounted display is an electronic wearable device, mounted on a head that includes a small display optic near the eye. The display optic projects a virtual environment in front of the user’s eyes. . The screens used in the head-mounted display are liquid c... View more

Coherent Market Insights Marine Actuators And Valves Market

Published Date : Jan 2023

Marine valves are mechanical component that is used to control, regulate, direct, and guide the flow of various types of liquids such as steam, gases, liquids, and any flowing agents such as grain and mill. Some of the commonly used valves are gate, globe, angle, butt... View more

Coherent Market Insights Virtual Reality In Gaming Market

Published Date : Jan 2023

Virtual reality refers to a simulated environment created by using software and hardware, in order to provide real environment experience to users. Virtual reality is experienced through sound and sight. VR technology has been used in many applications including enter... View more

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