Consumer electronics (CE) refers to devices used for communication, entertainment, or information purposes. The industry's continuous growth and innovation solidify its prominent role in the tech landscape, providing both enhanced existing devices and new, groundbreaking products. Today, CE form a multibillion-dollar industry, offering an array of interconnected devices and services. The industry is extremely competitive, with new companies always entering the market and competing with major players, like Apple, Samsung, and Sony.
The CE industry has shown resilience and growth potential despite recent challenges, such as the global economic slowdown in 2022. TV sales are expected to rise due to technology advancements, while AI developments and innovative designs will drive the growth of the smartphone market. Wearables like smartwatches and earwear are also gaining popularity, while AR glasses, VR headsets, and AI gadgets represent newer segments within the market.
Revenue of the consumer electronics market worldwide from 2018 to 2028 (in billion U.S. dollars)
Further details: Visit original statistic Revenue of the consumer electronics market worldwide from 2018 to 2028 (in billion U.S. dollars)
Although the CE market often seems saturated, given the multitude of products and companies involved, firms consistently strive for innovation by releasing new and updated devices, which are critical drivers of growth in this sector. After a slight revenue decline in 2022, the consumer electronics market size is forecast to steadily increase in the coming years, generating revenues of approximately 1.13 trillion U.S. dollars in 2025 and recording a growth rate of three percent.
Consumer electronics market overviewRevenue of the global consumer electronics market in 2023, by segment (in billion U.S. dollars)
Further details: Visit original statistic Revenue of the global consumer electronics market in 2023, by segment (in billion U.S. dollars)
The CE market encompasses various submarkets, each attracting a significant number of customers. Among the most popular products are televisions, personal computers (PCs),smartphones, tablets, wearables (e.g., smartwatches and fitness trackers), hearables (e.g., headphones and earbuds), speakers, cameras, gaming consoles, and extended reality (XR) devices. Smartphones are the most profitable devices in the CE industry, with around 1.2 billion units shipped globally in 2023.
Smartphones in the U.S.Immersive technology consumer market revenue worldwide from 2018 to 2023, by segment (in billion U.S. dollars)
Further details: Visit original statistic Immersive technology consumer market revenue worldwide from 2018 to 2023, by segment (in billion U.S. dollars)
Immersive technologies and new realities are being developed — all encompassed under the umbrella term extended reality (XR). XR is an umbrella term for all immersive technologies including augmented reality (AR), virtual reality (VR), and mixed reality (MR), plus those that are yet to be created. XR technologies extend the reality we experience by either merging the virtual and “real” worlds or by creating a fully immersive experience.
XR: AR, VR, and the metaverseLeading tech companies worldwide as of June 5, 2024, by market capitalization (in billion U.S. dollars)
Further details: Visit original statistic Leading tech companies worldwide as of June 5, 2024, by market capitalization (in billion U.S. dollars)
The CE industry encompasses a wide range of companies, from tech giants to smaller firms, all offering diverse products that cater to various consumer needs, including personal entertainment devices and home automation systems. Market leaders such as Apple, Samsung, Sony, Google, and LG generate billions of dollars in annual revenue.
The innovation behind AppleSize of the global electronics recycling market from 2020 to 2030 (in billion U.S. dollars)
Further details: Visit original statistic Size of the global electronics recycling market from 2020 to 2030 (in billion U.S. dollars)
Sustainability and recycling are prominent themes in today's tech industry. CE devices are often easily recycled and reused, a trend embraced by both manufacturers and consumers. Companies benefit from recycling used materials, particularly to mitigate the ongoing chip shortage, while consumers save money by purchasing refurbished or second-hand devices. The global electronics recycling market is projected to surpass 57 billion U.S. dollars by 2025.
Sustainability in the tech industry
Consumer electronics (CE) refers to the wide range of products containing electronic circuit boards intended for personal or non-commercial use. Statista provides information on revenues and spending within the overall consumer technology industry and its segments, both on a global and regional scale.
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