The global consumer electronics industry involves manufacturers, designers and suppliers of electronic devices used by the consumers for various purposes such as entertainment, communications and office productivity. Some of the examples of consumer electronics products are cameras, musical recording & playback equipment, computers, game consoles, GPS navigators, recorders, video media, phones, calculators and a collection of electronic portable devices.
Consumers are looking for a wider choice of products with enhanced capabilities and expanded services. Growing demand for general consumer electronic products compatible with computers and other devices are leading to digitalization of these products. Furthermore, the growing trend of stay informed and connected has created a big opportunity for wireless devices. These factors are further driving the market for smart devices such as smart TV, smartphone, smart wearables and other connected home appliances.
In the global consumer electronics industry, competition exists between specialized consumer electronic stores, computer retailers, department stores and specialty office stores. Large businesses possess the advantage of purchasing power and effective marketing, whereas, smaller businesses focus on offering unique products and providing better customer service. Independent companies are utilizing efficient advertising techniques and formulating strategies to generate consumer traffic in order to gain repeat business.
The major consumer electronic segments comprises television, mobile handset market including smartphones, refrigerators, laptops & desktops, also air conditioners and gaming consoles market. The home audio equipment segment is expected to witness increase in sales due to rising demand for top quality audio technologies along with the availability of technologically advanced and innovative products. Consumer preference is shifting from single functional electronics products to multifunctional products. Consequently, demand of multifunctional smartphones is growing, which is undermining the growth of single functional electronics products such as laptops, cameras, gaming devices, MP3 audio players, desktops, etc.
ASDReport.com offers an extensive repository of reports on general consumer electronics market. The reports cover various consumer electronic products and technologies like smart remote control, wearables, light emitting diodes (LED) TVs, sensor fusion and much more.