Consumer Electronics Market to Surge at CAGR of 7.85% from 2025 to 2032; Apple Rolls Out New Solutions to Strengthen Industry Foothold

The global consumer electronics market size was valued at USD 815.16 billion in 2024. The market is projected to grow from USD 864.73 billion in 2025 to USD 1,467.94 billion by 2032, exhibiting a CAGR of 7.85% during the forecast period. The surge is driven by the rising digitalization and the advent of technology. Besides, a number of market players are launching a series of products for strengthening their industry footing.

Fortune Business Insights™ presents this information in its report titled “Consumer Electronics Market Size, Share & Industry Analysis, By Product Type (Electronic Devices (Television, Computer, Digital Camera & Camcorder, and Others) and Home Appliances (Refrigerator, Washing Machine, Air Conditioner, and Others)), Distribution Channel (Offline and Online), and Regional Forecast, 2025-2032”.

Apple Launches New Products to Strengthen Market Footing

In April 2023, Apple unveiled a series of new products. These included an updated HomePod, a new yellow version of the iPhone 14, and a Mac Mini with the M2 and M2 Pro chips. Other products comprised MacBook Pro computers with the new M2 Pro and M2 Max.

Escalation in Industry Value Impelled by Favorable Government Initiatives

Consumer electronics market growth is being propelled by an increase in government initiatives favoring product adoption in various countries. Another factor impelling industry growth is the surging development of new technologies such as IoT (Internet of Things), AI (Artificial Intelligence), 5G, and others.

However, industry expansion could be affected by the low product penetration in less developed economies on account of sluggish economic conditions.

Major Companies Focus on Product Development to Strengthen Industry Positions

Pivotal industry players are adopting a range of initiatives for strengthening their positions in the market. Some of these steps include an escalation in research and product development activities. Other initiatives comprise the formation of alliances, merger agreements, partnerships, and collaborations.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/consumer-electronics-market-104693

List of Key Players Profiled in the Report:

• Samsung Group (South Korea)


• LG Electronics Inc. (South Korea)


• Sony Corp. (Japan)


• Panasonic (Japan)


• Koninklijke Philips N.V. (Netherlands)


• Whirlpool Corp. (U.S.)


• AB Electrolux (Sweden)


• Apple Inc. (U.S.)


• HP Inc. (U.S.)


• Huawei Technologies Co., Ltd. (China)

Key Industry Development

• January 2023 – HP Inc., announced the rollout of new products at the Las Vegas event CES 2023. The solutions were focused on recharging hybrid experiences.

Further Report Findings

• The presence of leading companies in the Asia Pacific is touted to augment consumer electronics market share in the region. Some of these industry players include LG, Samsung, Sony, and Panasonic.


• The Europe market for consumer electronics is slated to grow at a remarkable pace over the estimated period. The escalation is propelled by the rising focus of companies on enhancing domestic manufacturing for meeting the soaring consumer demand.


• The market in South America is estimated to depict lucrative growth over the analysis period. The surge is driven by enhancements in video streaming, internet, and broadcasting facilities.


• Based on product type, the market for consumer electronics is fragmented into electronic devices and home appliances. The electronic devices market share is set to rise, accounting for a dominating share in the market. The escalation is being impelled by the growing rollout of new solutions.


• By distribution channel, the market is bifurcated into offline and online. The offline segment is poised to expand at a substantial rate over the study period. The growth is being driven by the purchase convenience and various options offered by offline stores.

Table of Segmentation