COVID19: CONSUMER ELECTRONICS MARKET TO REACH USD 1,230.2 BILLION BY 2027 | CAGR 7.1% — FORENCIS RESEARCH

  • According to the new market research report “Consumer Electronics Market by Product Type (Audio & Video Equipment, Digital Photo Equipment, Consumer Electronics Devices, Smart Home Devices and Wearable Electronic Devices), by Application (Personal, Professional), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Consumer Electronics Market is estimated to reach USD 1,230.2 Billion by 2027 at a CAGR of around 7.1% during the review period.
  • The consumer electronics is the electronic equipment, which includes television sets, MP3 players, video recorders, DVD players, radio receivers, and various other products.
  • Moreover, it includes a large set of electronic devices which provides one or more functionalities in home as well as for the individuals. Also, it can incorporate in smartphone and computing devices which helps the individual to enhance its services outdoor with the cell phone or a tablet PC.
  • With the increasing growth in digital platform is witness to boost the growth of the market in the projected period. Whereas, it helps to boost and develop the customer experience as well as enhance the business perspectives for the company growth.
  • One of the major key concern of the consumer electronics market is the ongoing Covid-19 Pandemics which may restraining factor for the growth of the market. Whereas, various factors including disruptions in restrictions on trade, supply chain & logistics as well as shortage of raw materials has create a hamper the production capacity for the consumer electronics manufacturers.
  • Growing adoption of Internet of Things (IoT), lead to enhance the device efficiency as well as boost the customer experiences which will lead to fuel the growth of the consumer electronics market in the forecast period.
  • High availability of spurious products will create a negative impact for the growth of consumer electronics market in the forecast period.
  • North America:
  • Asia-Pacific:
  • IBM Corporation:
  • Panasonic Corporation:

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