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Noida, Uttar Pradesh, India, 2011/01/21 - India and China will fuel the growth of the global consumer electronics market on the back of fast economic development and growing middle class income level, says RNCOS.
The global consumer electronics industry has been registering tremendous growth for the past few years. This growth can be attributed to the revolutionary technological developments after the introduction of digital technology that enabled the consumer electronics manufacturers to earn profit from the growing interaction of digital applications such as, camcorders, DVD player/recorder, digital camera etc.
According to our report “Global Consumer Electronics Market Forecast to 2013”, global consumer electronic market will witness significant growth in the Asia Pacific region. Further, India and China will be the most attractive market in this region due to their vast ability to consume and fast pace of development. CE companies will find it easy to sell their products in these markets as these markets contain huge number of consumers for every market segment. It is projected that the Asia Pacific CE market will grow at a CAGR of around 10% during 2010-2013.
The Asia-Pacific consumer electronics market has grown on account of high demand for flat panel TV. Besides, consumers in this region, especially Japan and South Korea, are more tech-savvy and prefer new technologies. Furthermore, the convergence of IT with telecom is boosting sales in this region. Asia-Pacific is now widely recognized as an important region for future growth mainly due to an increase in demand for low-priced devices in the developed countries. It holds major share of the consumer electronics market.
According to our report, the region is projected to witness significant growth in both Digital TV and IPTV usage during the next four years. Moreover, STB shipments in the region, including those for cable, DBS, IPTV, and DTT television services, are expected to grow rapidly. It is expected that high definition consumer electronics including HD set top boxes and HD game consoles, video equipments including digital TV, HDTV, and 3D TV will expand their market at a fast pace in the region.
“Global Consumer Electronics Market Forecast to 2013” provides future outlook of the global consumer electronics market with focus on latest developments in different regions. The report has clearly segmented the CE market into different segments with country wise description. The report also provides key trends and analysis of key players with brief on their strengths and weaknesses. The report will help clients identify key growth areas in the global CE industry.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.