Feature: Consumer electronics
Powering the consumer electronics
market and its future growth By Shankar Khatkale, Team Lead – SEO, Graphical Research, and Debojit Acharjee, freelance Software Engineer
T
he global consumer electronics market size will grow significantly to year 2027, in large part due to the growing adoption of smart home
appliances. There are six key trends to fuel this:
1. Personal consumer electronics devices gain momentum across Europe Europe’s consumer electronics market share has been growing, thanks to the popularity of wearable devices among millennials. With smart watches, fitbits and weight trackers becoming more commonplace across the UK, Spain and Italy, industry players have been making considerable profits on their latest product offerings. The advent of wireless and
advanced technologies is further powering this trend.
18 October 2022
www.electronicsworld.co.uk
2. European e-commerce channels minimised losses for companies over the past two years During 2020, supply chain snags and production halts hampered the industry globally, owing to Covid-19. Delayed investment decisions had a negative impact on orders, reducing the profits for consumer electronics companies. As brick-and-mortar stores remained
closed, e-commerce channels were the only alternative. As online discount platforms such as
Real.de in Germany, Cdiscount in France and Allegro in the US started offering massive discounts, this countered revenue losses for device makers.
3. Air-conditioning units volume grows across the Asia Pacific The global electric household appliances market has been expanding at a notable pace. Japan, India and China
have experienced increasing demand for technologically-advanced air conditioners, owing to the warming up climate across these regions. New product launches appear to be
a primary strategy adopted by leading industry players. In March 2021, Hitachi Air Conditioning India collaborated with Johnson Controls to introduce a new line of air conditioners.
4. India and China will see more professional video and audio equipment installations Indian and Chinese enterprises have been expanding their investments in smart audio and video (AV) systems over the past few years. Corporate and government offices, educational institutes and healthcare establishments have been installing a range of electronic devices such as lighting displays, projectors and audio systems. A growing number of Indian schools
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