The growing convergence of information, communication and entertainment is bringing a new era of consumer electronics in India. Consumer electronics is one of the largest segments in the Indian electronics market. “Booming Consumer Electronics Market in India”, a new research report by RNCOS, observed that the country’s consumer electronics market promises huge potential due to significantly low penetration rate. With increasing household income levels, local manufacturing, and expanding distribution networks, the Indian consumer electronics market is expected to grow at a CAGR of around 18% during 2011-2014 to reach around US$ 13 Billion.
The research study found that rising income levels and low penetration of consumer electronics products are among the factors largely attracting international as well as domestic players to enter the Indian market. The penetration rate of various consumer electronic products like TV, AC, and refrigerators is low in India when compared to other developing countries like China, Vietnam, and Russia. Also, there is a vast difference between the penetration levels existing in urban and rural areas. The low penetration rate in rural market represents tremendous growth opportunities for future.
The study, which thoroughly evaluates the Indian consumer electronics industry, finds how foreign and domestic brands are competing in the market. Briefly discussing the current and emerging industry trends, the report underlines future potential areas and key issues crucial for the development of the market. The research not only evaluates the behavioral aspect of the Indian consumers and their price sensitivity, but also analyzes the distribution channel and prospects of the consumer electronics market in rural India. The report also includes brief profile of key consumer electronics companies operating in the country, and analyzes their strengths and weaknesses. With analysis and forecasts for various product segments like television, microwave, and AC, the report aims at presenting a balanced outlook of the industry to clients.
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