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 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 Railway Connectors Market

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Coherent Market Insights Mena And Cis Buy Now Pay Later Platform Market

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Coherent Market Insights Emf Shielding Devices For Cell Phones Market

Published Date : Jan 2022

Increase in number of smartphone users, globally, will lead to high demand for EMF shielding devices such as stickers, air tube headphones, and cellphone cases. For instance, according to report released by GSM Association i.e. Mob... View more

Coherent Market Insights Hybrid Devices Market

Published Date : Jan 2022

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Coherent Market Insights Hvac Equipment Market

Published Date : Jun 2023

The global HVAC Equipment Market size was valued at US$ 195.0 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. HVAC equipment is an indoor and vehicular environment comfort technology that offers thermal com... View more

Coherent Market Insights India Mobile Phone Accessories Market

Published Date : May 2023

India mobile phone accessories market size was valued at US$ 2,238.4 Mn in 2022, exhibiting a compound annual growth rate (CAGR) of 9.72% from 2023 to 2030. Mobile phone accessories are additional devices and equip... View more

Coherent Market Insights Consumer Electronics Market

Published Date : Oct 2021

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Coherent Market Insights Cloud Tv Market

Published Date : Nov 2023

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Coherent Market Insights Led Stadium Screens Market

Published Date : Oct 2021

Stadium LED screen or LED display is a flat panel display that uses a vast number of light-emitting diodes for video displays. The brightness of these LEDs enables them to be used outdoors where they are visible in the sun for billboards and store signs. Stadium LED s... View more

Coherent Market Insights Uv Lamps Market

Published Date : Oct 2021

Ultraviolet lamps (UV) emit ultraviolet radiation with a wavelength that ranges from 400 nm to 100 nm. UV lights are used for curing UV adhesive and are classified into three wavelengths including UV-A, UV-B, and UV-C. Furthermore, UV lamps are used in various applica... View more

Coherent Market Insights Air Conditioning Systems Market

Published Date : Oct 2021

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Coherent Market Insights Rugged Thermal Cameras Market

Published Date : Oct 2021

A rugged thermal camera or thermal imaging camera is a device that provides images with the help of infrared radiation. Such cameras are typically used in military and defense applications along with electronics, healthcare, energy & utility, automotive, etc. Cost... View more

Coherent Market Insights Flat Panel Display Market

Published Date : Oct 2021

A flat panel display (FPD) is an electronic view device that allows people to see content such as text or moving images in different consumer electronics, mobile devices, and a range of entertainment. FPDs are thinner and lighter than conventional cathode ray tubes (C... View more

Coherent Market Insights Curved Televisions Market

Published Date : Oct 2021

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Coherent Market Insights Wireless Audio Devices Market

Published Date : May 2023

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Coherent Market Insights Cloud Gaming Market

Published Date : Aug 2021

Cloud gaming allows the gamers to play games online using internet connectivity and console. In the conventional gaming, all the graphic processing, and video rendering is done on the device (such as ... View more

Coherent Market Insights Household Induction Cooktops Market

Published Date : May 2023

The global household induction cooktops market is estimated to surpass US$ 19.77 Bn by the end of 2022 in terms of revenue, exhibiting a CAGR of 10.8% during the forecasted period (2023 to 2030). The household induction cooktops marke... View more

Coherent Market Insights Smart Tv Market

Published Date : Aug 2021

A smart TV is an internet-connected television with a wide range of online features, such as on-demand content from various apps, access to streaming services such as Amazon Prime, Netflix, and the ability to connect with several other wireless devices such as smartph... View more

Coherent Market Insights Automotive Screenwash Products Market

Published Date : Nov 2023

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Coherent Market Insights New Zealand Air Purifier Market

Published Date : Apr 2021

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