Consumer Electronics Market Size to Grow at a CAGR of 5.1% in the Following 5 Years | Valuates Reports
Retrieved on:
Tuesday, August 16, 2022
The global consumer-electronics market size is USD 850 Billion in 2021 and is projected to have a CAGR of 5.1% in the following five years.
Key Points:
- The global consumer-electronics market size is USD 850 Billion in 2021 and is projected to have a CAGR of 5.1% in the following five years.
- Major Factors Driving the Growth of the Consumer Electronics Market:
The rising home automation trends, favorable government policies, and COVID-19 impact will fuel the market's growth. - Extensive R&D initiatives by key players will drive the demand for the market during the forecast period.
- The increasing penetration of smartphones and the integration of advanced features have augmented the need for audio and video equipment.