Consumer Electronics Market - Trends Forecast Till 2028

Market Overview

The global Consumer Electronics Market is expected to register a CAGR of more than 5.8% during the forecast period, 2021-2028, due to rising economies and evolving consumer lifestyles.

Consumer electronics or a home appliance, also referred to as a domestic appliance, an electric appliance, or a household appliance, is a machine that assists in household functions such as cooking, cleaning, and food preservation

Increase in technological advancements, rapid urbanization, growth in the housing sector, rise in per capita income, improved living standards, surge in need for comfort in household chores, change in consumer lifestyle as well as escalating number of smaller households are some of the factors that have supported long-term expansion for Consumer Electronics Market.

COVID-19 has disrupted the global supply chain of the major home appliances and consumer electronic brands. The shutdown of the production in China has forced other consumer electronics makers based in the United States and Europe to temporarily hold the production of the finished goods.

Regional Analysis

Asia Pacific is expected to be the largest market of commercial refrigeration equipment during the forecast period. The increasing population in the region, improving economic conditions, such as rising GDP & disposable incomes, and a booming consumer appliances sector have led to growth in the commercial refrigeration equipment in the region.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Whirlpool
• Haier
• Samsung Electronics
• LG Electronics
• Bosch

Recent Developments

• In January 2021, Samsung and Deutsche Telekom completed the first 5G SA trial in the Czech Republic. The two companies achieved outstanding results with Samsung’s MU-MIMO technology demonstrating three times higher spectrum efficiency compared to LTE.
• In December 2020, South Korea-based LG Electronics Inc. and automotive supplier Magna International Inc. launched a joint venture that will make key components for electric cars.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Consumer Electronics Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope