Increasing consumer awareness will drive the consumer electronics market in India to grow at nearly 18% CAGR during 2011-2014, acknowledged RNCOS in its latest research report.
Noida, UP -- (SBWIRE) -- 08/25/2011 -- According to our new report, “Booming Consumer Electronics Market in India”, India, with its huge middle-class population and rapid economic growth, is one of the largest spenders in consumer electronics in Asia. Double-income families, rising income levels, availability of credit, changing lifestyle, introduction of new models, and increasing consumer awareness led to the surging demand of consumer electronics in India. The digital technology revolution has enabled the industry to earn profit from the growing interaction of digital applications, such as LCD TVs, mobile phones, etc. Thus, our research foresees that the Indian consumer electronics market will grow at a CAGR of around 18% during 2011-2014.
Moreover, another important factor that has contributed significantly to the expanding consumer goods market is the phenomenal growth in the Indian media. Even consumers in the remotest areas are equally aware of the latest products launched in the market due to the increasing penetration of television channels and cinemas. In addition, aggressive marketing efforts of the domestic majors are also helping the industry. Even Internet explosion is contributing significantly towards its successful achievement.
Our report identifies that, in future, demand for consumer electronics products LCD TV, camera phones, split AC, etc will continue to rise with the spreading of consumer awareness about the latest products and benefits offered by them. Rapid innovation and technological developments are inspiring the market growth worldwide by creating more opportunities for the players in the highly competitive environment of the consumer electronics market.
Besides, the report analyzes factors critical to the success of the consumer electronics market in India. It has also identified key players in the market and included their detail business description. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the Indian consumer electronics market.
“Booming Consumer Electronics Market in India”, provides future forecast on the industry, based on correlation of past drivers, challenges, and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Indian consumer electronics industry, which will prove decisive for clients. Our research also evaluates the behavioral aspect of the Indian consumers, their price sensitivity, distribution channel analysis and future prospects of the consumer electronics market in rural India.
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