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How much is the Consumer Electronics industry worth? By Zaraki Kenpachi - August 18, 2021
With a large number of small and large, regional and international, and old and new companies operating in the field of consumer electronics, it should not come as a surprise that the vendor landscape of the global consumer electronics market is highly fragmented and intensely competitive, observes Transparency Market Research in a recent report. So as to stay ahead amid the volatile operating conditions, companies have resorted to finding newer ways of enticing the rising consumer base of young and affluent middleclass people in emerging economies. Focus on marketing their products through ecommerce websites, which are increasingly becoming the most preferred mode of retail shopping in emerging economies, is gaining strength. As even some of the world’s most renowned consumer electronics brands struggle to keep up with the low costs of the slew of new, innovative product varieties brought in by small and regional companies, focus has also increased on good collaboration opportunities with regional players. Refinement of current product lines through the incorporation of technological advancements and development of product lines specifically suited to lucrative application areas such as IoT, connected devices, and incar infotainment are also popular strategies adopted by companies operating in the market. Some of the leading companies in the market are Canon, Inc, Sony Corporation, Samsung Electronics Co. Ltd, Koninklijke Philips N.V., Apple, Inc, LG Corporation, Nikon Corporation, and Panasonic Corporation. According to the report, the global consumer electronics market will rise to a revenue opportunity of US$1,550.34 bn by 2022, registering a CAGR of 4.0% from 2014 to 2022. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=376 Asia Pacific to Remain Most Lucrative Regional Market