The Indian consumer electronics industry has been growing at a double-digit growth rate since past few years. Higher disposable income, increased product awareness, affordable pricing, and shift in lifestyles have together been instrumental in changing the amount and pattern of consumer spending; thereby, resulting in strong growth in the consumer electronics industry. But still, the consumer electronics goods, like refrigerators, televisions and air conditioners, have low penetration in the country, leaving vast room for future growth.
According to our new research report, “Booming Consumer Electronics Market in India”, the Indian consumer electronics industry will grow at a CAGR of around 18% during 2011–2014. During this time period, we expect that LCD TV will capture majority of the television market share as it will replace Color televisions market to a large extent.
Moreover, we observed that the air-conditioner (AC) segment is one of the most important product segments driving the overall growth of the Indian home appliances market. Introduction of innovative features and technology coupled with the expansion of distribution network is helping the market to grow at a faster rate.
Further, our report reveals that, the market will witness a dramatic change in the competitive landscape over the next few years. A large number of companies will foray into the lucrative Indian consumer electronics market with their diversified product portfolio. This will lead the incumbent players to invest heavily in establishing their stores across different states of the country.
This analytical research, “Booming Consumer Electronics Market in India” thoroughly evaluates the Indian consumer electronics industry. It briefly discusses about the current and emerging trends in the industry, underlining the future potential areas and key issues crucial for the development of the industry. The research also evaluates the behavioral aspect of the Indian consumers, their price sensitivity, distribution channel analysis, and future prospects of the consumer electronics market in rural India. Besides, our report also offers rational analysis on the key consumer electronics companies operating in the country, which includes their strength and weakness analysis.
