The consumer electronics industry has been witnessing a phenomenal growth globally over the past few years. This growth can be attributed to the revolutionary technological developments taking place in the consumer electronics industry. The revolution brought by the digital technology has enabled the consumer electronics sector to profit from the growing interaction of digital applications, such as camcorders, DVD player/recorder, still camera, computer monitor, LCD TV, etc. In 2008, the global consumer electronics market was worth US$ 335.2 Billion.
According to our new research “Consumer Electronics Market Forecast to 2012”, the global consumer electronics market is forecasted to grow at a CAGR of around 5% during 2009–2012. Also, during the same period, the global consumer electronics shipment will grow at a CAGR of around 5%. Various factors driving the future growth have been thoroughly studied in the report.
On the regional front, we found that the American region, mainly US, is driving the global consumer electronics industry, closely followed by Europe. In future, Asia Pacific region will constitute the major portion of the consumer electronics industry, mainly due to the increase in demand from the developed countries in the region. Also, the American region alongwith the European region will see a decline in their market shares because the markets there have attained saturation and only the advent of new technology will boost the demand.
Our research foresees continuous development of digital technologies which are revolutionizing the consumer electronics industry worldwide. Moreover, the continuously falling prices of consumer electronics in several regions are also giving a reason to higher number of consumers to spend on consumer electronics. These factors indicate that the consumer electronics industry has bright future ahead, particularly in countries like China and India where the economy is moving at a relatively fast pace.
“Consumer Electronics Market Forecast to 2012” provides extensive information and rational analysis on the global consumer electronics market and emerging trends in the industry. It gives an insight of the regional trends alongwith the product-wise segmentation of the consumer electronics market across the globe. Analysis and statistics regarding market size, growth, regional segmentation, and trends in technology developments have been thoroughly studied to give comprehensive overview of the market.