The Personal Consumer Electronics Market is being driven by Frequent product launches of personal consumer electronics
The Personal Consumer Electronics Market is expected to grow at a CAGR of 5.01% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 96.2 billion. In the dynamic business landscape, e-commerce has emerged as a key growth driver for various industries, including personal consumer electronics. With the increasing preference for online shopping among consumers, businesses are increasingly relying on e-commerce platforms to expand their reach and connect with customers. This trend is expected to continue as new technologies and services streamline the online shopping experience. On these platforms, consumers can browse a vast selection of consumer electronics, categorized by distinct product types, price points, and brands. Prominent e-retailers such as Amazon.com, JD.com, and Alibaba Group, offer an extensive range of personal consumer electronics, providing unparalleled convenience and accessibility to customers.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
175 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.01% |
Market growth 2024-2028 |
USD 96.2 billion |
Market structure |
market_structure.ucfirst |
YoY growth 2023-2024(%) |
4.66 |
Key countries |
China, US, Germany, India, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Personal Consumer Electronics Market encompasses various aspects, including mobile operating systems and app ecosystems, device security, and data privacy. Key features include battery life, processor performance, display technology, camera technology, audio quality, haptic feedback, and user interface design. Interaction is facilitated through touchscreen technology, gesture recognition, voice recognition, and facial recognition. Biometric authentication, wireless charging, fast charging, network connectivity, and data transfer speeds are also essential. Cloud and local storage, digital content creation, photo and video editing, content sharing, social media integration, personalized content, and recommendation systems are additional features. Digital entertainment platforms, gaming platforms, subscription models, digital marketing, advertising technology, personalized advertising, and e-commerce platforms complete the landscape of the market.
The global consumer electronics market encompasses businesses involved in the manufacturing and marketing of various innovative devices, including wearable tech, smart speakers, gaming consoles, streaming devices, virtual reality headsets, augmented reality devices, and smart home devices. This market, as per Technavio, is estimated to grow significantly due to the continuous introduction of advanced, feature-rich products by leading consumer electronics companies. The market's size is determined by the consolidated revenues generated from the sales of these aforementioned consumer electronics, as well as furnishings and decorative products, household appliances, and homeware. Exclusions from this market include mobile phones, PCs, peripherals, video games, gaming consoles, and gaming peripherals, which fall under different market categories.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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