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Consumer Electronics Market Trends

Report ID: GMI2383
Published Date: Jul 2024
Report Format: PDF

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Consumer Electronics Market Trends

The consumer electronics industry is experiencing a significant trend driven by the rise of smart electronics integrated with AI. This trend is driven by continuous technological innovations which enhance connectivity and introduce advanced features. Manufacturers are introducing electronics by integrating voice assistant controls, Bluetooth connectivity, and other smart capabilities. These advancements aim to enhance the consumer experience by offering convenience, interactivity, and efficiency across various electronic products. As a result, smart electronics are reshaping how consumers interact with devices further providing seamless integration into everyday life and driving the market growth. For instance, In January 2024 Samsung has teamed up with key partners to outline the technologies integrated with AI to make consumers life easier. Samsung has launched OLED 8K with a built in AI processor giving an enhanced viewing experience.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for consumer electronics was valued at USD 1.3 trillion in 2023 and is anticipated to register 13.2% CAGR between 2024 and 2032 due to rapid technological evolution.

The audio and video equipment segment in the consumer electronics market generated over USD 920 billion in 2023 and is expected to reach USD 3 trillion by 2032 owing to the growing demand for entertainment experiences in home environments.

Asia Pacific market generated USD 560 billion in 2023 and may reach USD 1.3 trillion by 2032 driven by the large consumer bases in countries like China and India.

Acer, Inc., Apple Inc., Bose Corporation, Dell Inc., Google, Inc., GoPro, Inc., Haier Corporation, Hewlett-Packard Company, Hitachi, Ltd., and Huawei Technologies Co. Ltd. among others.