Consumer electronics are devices that are used by most people on a daily basis. Consumer gadgets are utilized for a variety of purposes, including homework, discussion, and amusement. Popular consumer electronics include TVs, cellphones, freezers, tablets, laptops, DVD players, digital cameras, desktop computers, paper shredders, and printers. Smart devices have allowed technology to advance, transforming a typical home into a "connected home." Security systems, HVAC systems, and smart kitchen appliances are a few of these smart home technologies. iOS and Android devices can control them. Additionally, wearable technology is a brand-new category of self-sufficient, user-friendly consumer devices. These devices have internet connectivity. Due to rising disposable income and population, the consumer electronics sector is expected to grow. Electronics are popular in emerging nations. Rising discretionary spending and regional population expansion is the main cause . Rising worldwide population, especially in developing nations, is expected to boost consumer electronics consumption. This, along with the developing nations' rising GDP will expand global markets. The worldwide consumer electronics market will develop due to a strong distribution network. Key market vendors are strengthening their distribution channels to compete. Consumer electronics distributors and retailers help manufacturers serve customers. Emerging markets like China, India, Brazil, and Russia prefer brick-and-mortar stores to buy consumer electronics and home appliances, making the retail specialist distribution channel the most popular. Online retail has grown as Internet access rises in the aforementioned nations.
The global market for Consumer Electronics is projected to grow at a CAGR of 15.6% from 2021 to 2028.
Major Players in the Consumer Electronics Industry:
1. Panasonic Corporation
Panasonic Corporation is a major Japanese multinational conglomerate corporation, was founded in 1918 and headquartered in Osaka, Japan. It operates around the world. In Jan 2023, Panasonic showed off its newest innovations, integrated solutions, and new technologies at CES 2023. These will be geared toward promoting sustainability and healthy living.
2. Samsung Electronics Co. Ltd.
Samsung Electronics Co. Ltd. is a South Korean multinational electronics corporation headquartered in Suwon, South Korea, was founded in 1969and headquartered in. It operates in 74 countries. In 2022, Samsung Electronics co. Ltd. released a wide range of new consumer electronics, such as foldable phones, freezers with invertor technology, and Neo QLED 8K/4K TVs & AVs.
3. Toshiba Corporation
Toshiba Corporation is a Japanese multinational conglomerate corporation, was founded in 1875 and headquartered in Tokyo, Japan. It operates in
4. LG Electronics Co. Ltd.
LG Electronics Co. Ltd. is a South Korean multinational electronics company, was founded in 1958 and headquartered in Seoul, South Korea. It operates in 49 countries. In 2022, LG Electronics released a new line of washing machines. It included front-loading machines, top-loading machines, dryers, and semi-automatic machines.
5. Hewlett-Packard Inc. (HP)
Hewlett-Packard Inc. (HP) commonly shortened to Hewlett-Packard or HP, was an American multinational information technology company, founded in 1939 and headquarter were in Palo Alto, California. It operates in 170 countries. In Jan 2023, HP Inc. announced new products and solutions designed to revitalize hybrid experiences so that individuals can thrive in the digital world of the present.
6. Apple Inc.
Apple Inc. is an American multinational technology company, was founded in 1976 and headquartered in California, United States. It operates in 175 countries around the world. In March 2023, Foxconn, a significant iPhone supplier and Apple vendor, predicted a decline in demand for consumer electronics over the next year.
7. Sony Corporation
Sony Corporation is a Japanese multinational conglomerate corporation, was founded in 1946 and headquartered in Tokyo, Japan. It operates in 70 countries. Sony intends to make significant announcements at CES 2023 in January 2023, including the highly anticipated PlayStation VR 2 headset. Sony anticipates showcasing new digital TVs, speakers, and home theater systems, similar to Samsung and LG. Aside from this, Sony may unveil a new premier smartphone at CES 2023.
8. Hitachi Ltd.
Hitachi Ltd. is a Japanese multinational conglomerate corporation. It was founded in 1910 and headquartered in Tokyo Japan. It operates in 39 countries. In March 2023,
9. Koninklijke Philips N.V.
Koninklijke Philips N.V commonly shortened to Philips, is a Dutch multinational conglomerate corporation. It was founded in 1891 and headquartered in Amsterdam, Netherlands. It operates in 22 countries.
Definition: Consumer electronics or home electronics are analog or digital electronic devices that are meant to be used every day, usually in private homes. Consumer electronics are things that are used for fun, contact, and work.
