Irving, TX (PRWEB) August 30, 2012
Favorable demographics, rising consumer incomes, and evolving more interconnected lifestyles are anticipated to boost the global consumer electronics industry. The market is expected to reach an estimated US$1,210 billion in 2017 with a CAGR of 5.4% over next five years (2012-2017)
Lucintel, a leading global management consulting and market research firm, has analyzed the global consumer electronics market and presents its findings in “Global Consumer Electronics Industry Analysis 2012-2017:Industry Trend, Profit, and Forecast Analysis.”
The consumer electronics industry is consolidated as the top 10 players contribute approximately 52% of total market size. The industry, which is capital intensive and price sensitive, is a highly dynamic and fast-changing industry. Costs of raw materials such as steel and copper have increased, which had a significant effect on the price of the finished goods. A combination of factors such as rising income and consumer spending affect the market dynamics significantly. The industry has essentially recovered from the recent recessionary condition globally and is in the growing phase
Lucintel’s research indicates that the industry witnessed high growth during 2010-2011 due to greater demand for electronics equipment, especially smartphones, continuous improvement in capabilities that reduced costs, and increased profit through bulk production. APAC presents appreciable growth potential in the consumer electronics industry during the forecast period due to a fast-growing middle class and the availability of trained labor in China, Japan, India, Malaysia, and Singapore.
As the study indicates,increases in per capita income and consumer spending, changing consumer preferences, and a growing need for automation and technological advancement drives demand. Conversely, the high degree of price competition,maintaining efficiency and quality, implementation of upgraded technology, and rising labor costs and cost of raw materials are some of the challenges for the industry.
This study provides an overview of the global consumer electronics industry and includes all consumer electronic devices except in-car entertainment systems. The report tracks market sizing for four geographic regions and four market segments of this industry; thus, it tracks 16 segments.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.