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Consumer Electronics Market: Asia-Pacific Steps in to Uplift Global Growth

Transparency Market Research Report Added "Consumer Electronics Market" to its database.


Albany, NY -- (SBWIRE) -- 03/17/2015 -- Consumer electronics comprise a wide variety of micro and macro categories such as home audio and cinema, computers and peripherals, in-car entertainment, imaging devices, portable players, mobile phones, home appliances, video players, and televisions. Some of the key players in the regional markets of North America, Asia Pacific, Europe, and Rest of the World, catering to the aforementioned categories are LG Electronics Inc., Apple Inc., Panasonic Corporation, Toshiba Corporation, Koninklijke Philips Electronics N.V, Sony Corporation, Sharp Corporation, and Samsung Electronics Co. Ltd.

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Here are some of the key trends governing the consumer electronics market:

Although the demand, value, and volume for tablets, smartphones, and LCD televisions are estimated to grow, analysts observe a rising shift towards low-cost gadgets.

In terms of retail volume sales, the computers and peripherals category of the consumer electronics market is dominated by tablets. However, once again owing to consumer preference for economically-priced devices, sales value of tablets is expected to decline.

Growing adoption of smartphones, rapid expansion and penetration of the internet, and rising disposable income especially in emerging economies will help maintain a steady demand for consumer electronics.

Thanks to an expanding automotive industry, income growth, and increasing car ownerships, the demand for in-car entertainment in developing countries is going to grow. On the other hand, this category of consumer electronics is estimated to decline in developed regions.

Smartphones with high-quality cameras have gained much popularity, causing the demand for digital cameras to drop drastically. Even though manufacturers of digital cameras and lenses are reducing prices and offering great deals on various kinds of camera equipment, the overall volume sales of digital cameras have taken a severe hit.

Consumers seek a one-screen-entertainment solution that they can avail via smartphones and tablets. This has led to waning interest in categories such as video players, and home audio and cinema.

North America uninspiring leader

Research analysts name North America as the leader of the consumer electronics market. And while this might be statistically true, what holds prominence is the fact that this developed regional market has attained full maturity. Even with tablets and smartphones driving the growth of the North America consumer electronics market, the overall volume sales are less than impressive. New product launches and middle-market prices are some of the tactics adopted by vendors of consumer electronics.

Western Europe in a transitional phase

The Western Europe consumer electronics market comprises countries such as Germany, France, the U.K., Italy, and Spain. According to analysts, the economies of these nations are on the path of recovery. The positive GDP in these regions does signal the possible growth of the consumer electronics market. However, what remains to be seen is whether the confidence of the consumer will recover as well. The category of wearables is currently the driver of the consumer electronics market in Europe thanks to growing awareness regarding health and fitness among consumers and successful hosting of the Olympic Games (2012) and the Commonwealth Games (2014).

Asia Pacific jumps to the rescue

Analysts have stated that Asia Pacific will be the fastest-growing geographical segment in the global consumer electronics market. Here's why:

Presence of large metropolitan areas and ever-expanding urban population will ensure that the benefits of economic development are reaped to the maximum. This is bound to have a positive impact on the consumer electronics market.

Household and social structures in developing markets of Asia Pacific will be largely impacted by wealth migration and large-scale urbanization. With change in lifestyle, the consumer electronics sector is anticipated to be one of the popular markets.

Female employment is on the rise in countries of this region. This has led to an increase in disposable income in families, thereby driving the purchasing power of consumers towards consumer electronics such as televisions, home appliances, and smartphones.

With Asian households greatly beginning to resemble developed Western counterparts, spending priorities have witnessed a significant shift. Appliances directed towards individual use such as tablets, smartphones, and cameras have gained higher demand compared to family-oriented products.

Even with developed countries such as Europe and the U.S. taking the lead in the consumer electronics market, experts have full faith in the vast expanse of untapped opportunities in the Asia-Pacific region.

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