Consumer electronics growth

Is consumer electronics industry growing?
The global consumer electronics market size was valued at US$ 723 billion in 2022 and is expected to hit US$ 1264.52 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 5.80% during the forecast period 2023 to 2032..
Which are the factors behind the growth of the electronic industry?
Technological Innovation: Advancements in technology drive the development of new and improved products, leading to increased demand and sales.
Increasing Connectivity: The proliferation of internet-connected devices has created new markets for consumer electronics products, such as smart home devices and wearables._{Feb 15, 2023}.
Why is the demand for electronics increasing?
Market Key Trends
Smartphones are becoming more affordable and feature-rich, making them accessible to a wider range of consumers.
The rising demand for televisions is another key trend driving the growth of the market.
Televisions are becoming larger and more affordable, making them a popular choice for entertainment._{Jul 11, 2023}.

Revenue in the Consumer Electronics Market is projected to reach US$340.70bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2028) of 9.02%, resulting in a projected market volume of US$524.70bn by 2028.

The global consumer electronics market size was valued at US$ 723 billion in 2022 and is expected to hit US$ 1264.52 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 5.80% during the forecast period 2023 to 2032.

What is the future of consumer electronics industry in North America?

Due to high penetration, North America's consumer electronics industry is expected to emerge as the dominant regional industry

However, growth is also accompanied by significant disruption

The barriers to entry for smartphones have dropped considerably owing to the rise of the Android operating system and several reference design platforms

What is the projected growth rate of the consumer electronics market?

Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 12

07%, resulting in a projected market volume of US$950

30bn by 2027 With a projected market volume of US$251

10bn in 2023, most revenue is generated in China

In the Consumer Electronics market, the number of users is expected to amount to 3

3bn users by 2027

Neptun is the largest chain of consumer electronics in Albania and among the companies with the highest growth in the region.
It provides retail sales of electronic products from TVs, computers, phones, home appliances, etc.
With 20 stores in Albania and constantly expanding, Neptun is present in all major cities throughout the country.

Consumer electronics growth

Is consumer electronics industry growing?

Which are the factors behind the growth of the electronic industry?

Why is the demand for electronics increasing?

What is the future of consumer electronics industry in North America?

What is the projected growth rate of the consumer electronics market?