Consumer electronics (CE) refers to devices used for communication, entertainment, or information purposes. Over the years, manufacturers developed new devices and reinvented older ones. Today, CE forms a multibillion-dollar industry, offering an array of interconnected devices and services. The industry is extremely competitive, with new companies always entering the market and competing with major players, like Apple and Sony.
The past years’ events affected the market. If the demand for entertainment and home office equipment during the pandemic boosted it, the Russia-Ukraine conflict, the supply chain disruption, and economic recession negatively impacted the industry. Manufacturers faced rising material and labor costs, and consumers were less willing to buy new devices. In 2022, all CE segments experienced fluctuations in revenues and shipments. Statista provides extensive insights on the industry, including market size, shipments, market leaders, and latest trend.
Revenue of the consumer electronics market worldwide from 2018 to 2028 (in billion U.S. dollars)
Further details: Visit original statistic Revenue of the consumer electronics market worldwide from 2018 to 2028 (in billion U.S. dollars)
Although the consumer electronics market often seems to have reached saturation, given the many products offered and the companies involved, firms always try to stay innovative, releasing new and updated devices that are critical drivers of growth in this sector. After falling in 2022, the consumer electronics market size if forecast to grow back in the coming years, generating revenues of around 1.1 trillion U.S. dollars in 2023 and recording a growth of over four percent.
Consumer electronics market overviewRevenue of the global consumer electronics market in 2022, by segment (in billion U.S. dollars)
Further details: Visit original statistic Revenue of the global consumer electronics market in 2022, by segment (in billion U.S. dollars)
The consumer electronics market includes various submarkets, which all attract a great number of customers. Among the most popular products, we find television (TVs), personal computers (PCs), smartphones, tablets, wearables (e.g., smartwatches and fitness trackers), hearables (e.g., headphones and earbuds), speakers, cameras, gaming consoles, and extended reality (XR) devices. Smartphones are the most prolific devices in the CE industry in terms of revenues, with around 1.2 billion units shippe
Smartphones in the U.S.Immersive technology consumer market revenue worldwide from 2018 to 2023, by segment (in billion U.S. dollars)
Further details: Visit original statistic Immersive technology consumer market revenue worldwide from 2018 to 2023, by segment (in billion U.S. dollars)
As the metaverse gains popularity, immersive technologies and new realities are being developed - all encompassed under the umbrella term “extended reality (XR)”. XR includes virtual reality (VR), augmented reality (AR), and mixed reality (MR). VR headsets replicate the real world and extend it to a virtual one, while AR, a less immersive but cost-effective alternative, blends the two, allowing customers to experience products in a whole new environment.
XR: AR, VR, and the metaverseLeading tech companies worldwide 2022, by market capitalization (in billion U.S. dollars)
Further details: Visit original statistic Leading tech companies worldwide 2022, by market capitalization (in billion U.S. dollars)
Many companies are involved in the consumer electronics industry, from tech giants to smaller firms, which offer a vast array of products catering to customers’ needs, such as personal entertainment devices and home automation systems. The market leaders are the well-known Apple, Samsung, Sony and LG, who record billions of dollars in revenue every year. The events of 2022 hit even tech giants, but the resilience of larger technology companies suggests they will get back on track in the future.
The innovation behind AppleSize of the global electronics recycling market from 2022 to 2027 (in billion U.S. dollars)
Further details: Visit original statistic Size of the global electronics recycling market from 2022 to 2027 (in billion U.S. dollars)
Sustainability and recycling are major themes in today’s tech industry. CE devices can easily be recycled and reused, a popular trend among manufacturers and consumers. Companies can recycle used materials, advantageous especially to counteract the 2022 chip shortage, and customers can save money, as refurbished or second-hand devices are cheaper than brand-new ones. By 2023, the global electronics recycling market is forecast to reach a size of 46.5 billion U.S. dollars.
Sustainability in the tech industry
The term “consumer electronics” (sometimes abbreviated to CE) refers to the wide range of products containing electronic circuit boards intended for personal or non-commercial use. Statista provides information on revenues and spending within the overall consumer technology industry and its segments, both on a global and regional scale.
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