The global consumer electronics market size is estimated to reach USD 1,782.60 billion by 2030, expanding at a CAGR of 6.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. Recent technological advancements have led to the miniaturization of smart devices, and are expected to be key factor driving the consumer electronics industry. High investment, availability of cost effective devices due to mass production, and a range of diverse applications are also expected to be the key growth drivers.
Consumers are narrowing their technology interest to devices that offer multiple functions. Single-function products such as portable music players, digital cameras, etc. have witnessed considerable decline owing to the advent of multi-function devices. For example, there has been a considerable rise in smartphone ownership in 2013, while ownership of digital cameras has declined. End users have become more platform-agnostic as they are open to experimenting with different platforms such as Windows, Android and iOS, which is also expected to catapult consumer electronics market demand over the forecast period.
Increasing penetration of BYOD has presented growth avenues. Long-battery life, processors and large screens along with other value-added features is also expected to favorably impact personal electronics market growth over the next few years. Consumer electronics manufacturers focus on gaining a level of insight into service adoption on smartphones and related pricing strategies to target end users.
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Consumer Electronics Market Report Highlights
- The smartphones segment captured the largest revenue share and is estimated to register the fastest growth over the forecast period, which may be attributed to increased emphasis on devices integrating several advanced features such as audio, GPS and high-end cameras. Emerging concepts such as pervasive computing along with several communication technologies, including 4G/5G LTE are also expected to drive demand.
- The tablets segment is estimated to significantly grow over the forecast period. Introducing new innovative and smarter tablets with extensive input capabilities offers growth opportunities for the market.
- Digital camera market sales may witness a decline over the next few years. Consumer preference for devices such as smartphones that offer multi-functionality is expected to hinder the digital camera market.
- Asia Pacific consumer electronics market captured sizable volume share, which can be primarily attributed to high demand in China and India as well as considerable product penetration in the region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Increase in penetration of LED bulbs and lightings globally and rise in government initiatives toward energy saving measures fuel the growth of the global intelligent lighting controls market.
However, emerging smart city projects in developing economies and growing inclination toward energy-efficient lighting solutions are expected to create multiple opportunities in the industry.According to the report, the global intelligent lighting controls industry was estimated at $7.49 billion in 2019, and is expected to hit $26.06 billion by 2027, registering a CAGR of 17.4% from 2020 to 2027.COVID-19 scenario-The outbreak of the pandemic has impacted the global intelligent lighting controls market badly.
The global lockdown has led to significant decline in the demand for lighting strictures among the end-users.Many companies are reporting difficulties in obtaining raw materials due to a number of reasons such as late deliveries and shortage of shipping capacity.
However, with several government bodies imposing relaxations on the existing regulations, the market is expected to gradually recoup its position in terms of revenue.The sensors segment to lead the trail by 2027-Based on type, the sensors segment contributed to around one-fifth of the global intelligent lighting controls market revenue in 2019, and is expected to lead the trail by the end of 2027.
The same segment is also projected to register the fastest CAGR of 20.4% during the estimated period.
Rapid development of smart sensors fuels the growth of the segment.Read Full News: https://www.alliedmarketresearch.com/intelligent-lighting-controls-market The wired segment to maintain the lion's share-Based on connectivity type, the wired segment accounted for around three-fourths of the global intelligent lighting controls market share in 2019, and is anticipated to rule the roost throughout the forecast period.
An electric oven is a convection or radiant oven with an integrated electric heating element that cooks and bakes food rapidly and evenly.
Electric ovens became popular as solid fuel stoves, which required more effort to use and maintain, were phased out.
To remove smoke and steam from cooking, many modern ovens now include built-in motorised exhaust hoods.
Electric ovens are more energy efficient than gas or coal-fired stoves, allowing consumers to save money on their utility bills.Customers can choose from a variety of sizes and price ranges for Electric cooktops, based on the amenities they want.
A nonstick frying pan, a removable oven, and a burner or multi-burner switch to regulate heat and cook settings are included in the most basic model.
A typical electric cooktop will feature at least one oven compartment and two or three burners, allowing for the preparation of a wide range of foods.
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The global solid state drive (SSD) market is expected to reach $25.51 billion by 2025.
Solid State Drive (SSD) industry is driven by factors such as advantages offered by solid state drives over hard disk drives coupled with rise in uses of SSD in data centers.
Rising adoption of solid state drives, content generation and storage capacities for enormous amount of digital data is expected to create favorable market conditions for further development in the forecast period.
Subsequently, the rising regulations pertaining to environment and other stringent laws is likely to curb the market growth in the forecast period; wherein the CAGR would be 14.7%.Solid-state drives are undoubtedly considered as the enabling factor to leverage the storage performance level of an enterprise.
The rotating storage technology of hard disk drives are low in efficiency and at times non-competent to perform quicker response.
On the contrary, SSDs are based on NAND flash memories with no mechanical parts and random access to the data is prompt.Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures) @ https://www.millioninsights.com/industry-reports/solid-state-drive-ssd-market-size/request-sampleIn many applications, the interaction between drives and host processors experience a blockage, which is why SSD’s interface evolves from conventional storage interfaces such as SATA, SAS, and PCIe that enables an uninterrupted connection of the SSD to the host processor.
