growing at a CAGR of 5. 25%, during the forecast period, owing to continuous change in consumer preference, increasing innovation in existing products, and rising disposable purchasing power, and rapid urbanization.
New York, Aug. 10, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Consumer Electronics and Appliances Market, By Type, By Application, By Distribution Channel, Competition Forecast & Opportunities, 2026” – https://www.reportlinker.com/p06128278/?utm_source=GNW
Some of the challenges faced by the industry include energy efficiency demand, the shift towards eco-friendly products, immediate shifts in demand and innovation of new technologies and quality control. All these factors are expected to hamper the growth of the market.
On the basis of type, the market is divided into audio visual equipment, home appliances, kitchen appliances and personal care appliances, among which the audio-visual appliances segment is having the largest share of approximately 65% in the consumer electronics market.This is due to the rising demand for technology-driven products like smart Television, Laptop, Smartphones, Speakers, Smartwatch, Earphones/Headphones.
The factors like continuous launch of new software products, and constant upgradation to the technologies are anticipating the growth of the segment.
On the basis of application, the market is bifurcated into residential and commercial, out of which the commercial segment represents almost 30% of the global consumer electronics and appliances market, showing a faster growth rate in the upcoming years considering the increasing number of business segments.However, the residential segments hold the largest market share across the globe.
As the number of nuclear family is increasing, the demand for appliances (like washing machine, air conditioners, refrigerators, and others) is surging because it saves time in household work, that also leads to enhancement of overall standard of living.
It is always the electronic and specialty retailers that contribute to the largest market share in terms of the distribution channels.But post COVID-19, the electronic and specialty retail segment has seen a downfall in its overall market sales.
As people are more concerned about their safety, they are not comfortable purchasing products from retail stores and instead prefer buying electronic products through online channels, which provide huge discounts.
In terms of region, the global consumer electronics and appliances market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.As a country, it is the United States which occupies the largest market share of electronics and appliances market, and in the upcoming years is expected to maintain the first position considering the current market share and historical growth.
But among the regions, Asia-Pacific dominates the market owing to factors like rising population, increasing disposable income. The region is expected to hold up to 37% market share of the consumer electronics and appliances market in the forecast period, which is the highest market contribution globally, whereas North America and Europe are expected to remain the stable markets.
Today, the consumer electronics and appliances market has become an attractive destination for investments and several large multinational companies are entering this market. Some of the major companies are Apple Inc., Huawei Technologies Co., Ltd., Samsung Electronics Co., Ltd., Midea Group Co., Ltd., LG Electronics Inc., Xiaomi Corporation, Panasonic Corporation, Whirlpool Corporation, Sony Group Corporation, AB Electrolux, Hitachi, Ltd., and Koninklijke Philips N.V. The global consumer electronics and appliances market is majorly held by various multinational brands supported by local and international suppliers.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
• To analyze the historical growth in the market size of global consumer electronics and appliances market from 2016 to 2020.
• To estimate and forecast the market size of global consumer electronics and appliances market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global consumer electronics and appliances market based on by type, by application, by distribution channel, company, and region.
• To identify dominant region or segment in the global consumer electronics and appliances market.
• To identify drivers and challenges for global consumer electronics and appliances market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global consumer electronics and appliances market.
• To identify and analyze the profile of leading players operating in global consumer electronics and appliances market.
• To identify key sustainable strategies adopted by market players in global consumer electronics and appliances market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the Globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distributors, and presence of all major players across the country.
The analyst calculated the market size of the global consumer electronics and appliances market using a bottom-up approach, wherein data for the various end-user segment was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by the analyst.
Key Target Audience:
• Manufacturers, distributors, and end-users
• Market research and consulting firms
• Government bodies such as regulating authorities and policymakers.
• Organizations, forums and alliances related to consumer electronics and appliances.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Global Consumer electronics and appliances market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Consumer Electronics and Appliances Market, By Type:
o Audio Visual Equipment (Television, Laptop, Smartphones, Speakers, Smartwatch, Earphones/Headphones, etc.)
o Home Appliances (Refrigerator, Washing Machine, Air Conditioners, Air Purifier, etc.)
o Kitchen Appliances (Dishwasher, Microwave, Ovens, Electric Kettle, Blender, etc.)
o Personal Care Appliances (Shavers, Trimmers, Hair Dryers, Straighteners, etc.)
• Global Consumer Electronics and Appliances Market, By Application:
• Global Consumer Electronics and Appliances Market, By Distribution Channel:
o Electronic and Specialty Retailers
o Hypermarket/ Supermarket
o Online Channels
o Others (Institutional Stores, etc.)
• Global Consumer Electronics and Appliances Market, By Region:
o North America
o South America
o Middle East and Africa
Company Profiles: Detailed analysis of the major companies present in global consumer electronics and appliances market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06128278/?utm_source=GNW
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