Consumer electronics in the U.S. - statistics & facts
Working, studying, playing games, watching movies, and listening to music have never been easier, with the modern consumer electronics market offering a multitude of devices to perform these activities. Consumer electronics are home or personal electronic devices intended for everyday use, including devices for entertainment, communication, and recreation. The retail revenue from consumer electronics sales in the United States is expected to reach close to 485 billion U.S. dollars by the end of 2023, decreasing by almost four percent from the previous year as a looming recession and inflationary pressures weigh on demand.
Apple and Samsung lead the U.S. consumer electronics market
The consumer electronics industry can be broken down into several segments, including televisions, personal computers, mobile phones, tablets, wearables, cameras, speakers, and headphones. In the U.S., most of these segments have experienced considerable sales fluctuations since 2018. For instance, video, gaming, and audio equipment have experienced dramatic growth, whereas the number of PC unit shipments has decreased slightly. Moreover, smartphone and tablet shipments are also expected to fall in the coming years.
In terms of companies, Apple leads both the smartphone and tablet markets, at around 50 percent and 55 percent of the market share, respectively. Samsung is still a major player in both industries but holds lower shares.
A growing interest in smart homes
With the advancement of technology, devices that are communicative and connected with each other have started to appear more in both the global and the U.S. markets. With the increasing popularity of devices such as smart TVs, smart speakers, and smart bulbs, the U.S. has become a hotspot for smart homes, with a smart home market revenue of 38 billion U.S. dollars expected in 2023. The most common smart home devices in the U.S. are smart TVs, owned by 76 percent of Americans in 2022. Other popular devices in the U.S. include smart speakers, smart bulbs, and smart streaming devices, such as the Amazon Fire TV stick and Google Chromecast.
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Research expert covering the global consumer technology industry