Consumer Electronics Market to grow at 8.1% CAGR from 2017 to 2024

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Consumer Electronics Market to surpass USD 1,500
billion by 2024 Global Market Insights, Inc.
Digital Signage Media Player Market to surpass
1.4bn by 2024
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Key Insights from Consumer Electronics Market

• Consumer Electronics Market size is set to exceed
  USD 1,500 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
  Technological advancements in devices including
  smartphones, earphones headphones, speakers and
  household appliance is anticipated to fuel the
  consumer electronics market growth.
• The growth is also characterized by the improving
  purchasing power of individuals across emerging
  economies coupled with the growing penetration of
  energy-efficient appliances. The rapid
  proliferation of wireless technologies such as
  Wi-Fi, NFC, and Bluetooth, provides ample growth
  opportunities to the consumer electronics market.
  The focus on customer convenience and the
  enhancement of the user experience are
  encouraging the vendors to introduce latest
  features and technologies in the devices.

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Continued...

• The demand for air conditioners in the major
  household appliances segment is anticipated to
  rise over the forecast timeline. Increasing
  income levels and rising temperatures of the
  middle-class population in countries such as
  China and India further contribute to the segment
  growth. Rising penetration of air conditioners
  can also be credited to the declining price of
  such appliances. In the U.S., energy consumption
  by air conditioners almost doubled owing to the
  changing climatic conditions as well as
  increasing size of homes. The kitchen appliances,
  such as ovens, and cookers, are expected to
  witness a high demand owing to the rising
  adoption of technologically-advanced products
  coupled with changing lifestyles in urban areas
  contributing towards the overall consumer
  electronics market size.
• The sluggish growth of laptops across various
  regional markets can be accredited to the advent
  of powerful mobile devices such as tablets. With
  the rapid growth of lower priced and convenient
  tablets with advanced capabilities, laptop sales
  are expected to witness a steep decline over the
  forecast timeline. Low demand across the emerging
  economies is among other factors challenging the
  audio video equipment sector in consumer
  electronics market.

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Latest Research Report On Consumer Electronics
Market _at_ http//bit.ly/2EokkY0 Request for a
sample of this research report _at_ https//www.gmins
ights.com/request-sample/detail/2383
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Global Audio Video Equipment Market, By Region,
2016 2024 (Million Units)

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Continued...

• The audio and video equipment in the consumer
  electronics market are attributed to the
  development of new technologies such as 4K, 8K,
  and higher resolution systems. With an increasing
  number of video content and broadcasting
  companies such as Netflix and Amazon Prime
  developing 4K content, the movement towards
  ultra-high definition systems is anticipated to
  be very high. Additionally, the prices of these
  systems are declining at a very rapid rate. 4K TV
  prices experienced a decline from approximately
  USD 8,000 to USD 1,250 from 2012 to 2015 and will
  continue to do so in the following years
  positively impacting the consumer electronics
  market demand across the globe.
• The professional consumer electronics market
  segment is projected to exhibit a higher growth
  during the forecast timeframe as compared to the
  personal segment. The growth of the media and
  entertainment industry, mainly in Latin America
  and the Asia Pacific region, is aiding in the
  growth of the consumer electronics market as
  there is a higher demand for professional audio
  and visual equipment from consumers and media and
  entertainment players. An increasing number of
  government agencies are focusing on the
  development of audio electronic systems such as
  noise cancelling headsets.

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Regional Analysis

• Asia Pacific region is anticipated to witness
  high growth in the consumer electronics market
  due to large number of household appliances and
  smartphone users. The growth is mainly driven by
  the presence of high population and growing
  disposable income in economies such as China,
  India Japan and South Korea.
• Owing to the expansion of mobile device
  industries in densely populated countries, the
  region is expected to dominate the overall
  consumer electronics market. In addition, the
  growing demand for headsets from offshoring
  centers in India and Philippines is forecast to
  augment the demand.
• Favorable government initiatives pertaining to
  the promotion of smart city and smart home
  technologies is placing a high demand for such
  products.

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Companies

• Major players in the consumer electronics market
  comprises LG Electronics, Apple, Samsung
  Electronics, General Electric, Sony Corporation,
  Huawei, Xiaomi, Bose, AB Electrolux, Philips,
  Sonos, Canon, Haier, Nikon, Sennheiser and GoPro.
  
• The industry is currently witnessing rising
  competition owing to the presence of a number of
  regional as well as international players.
  However, the strong eminence of the
  well-recognized players is making it difficult
  for new players to enter the marketplace.
• The industry is characterized by heavy RD
  investments coupled with partnership and
  collaboration strategy followed by major consumer
  electronics market players.

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