Revenue in the Consumer Electronics market
It’s nearly impossible to imagine living in this century without electronics. They make up an essential part of our personal and professional lives and are inextricably entwined with them. They’re also a favorite in the world of business products as consumers are always on the lookout for the newest releases, next best deals and faster delivery options.
Everything from aerospace products to medical equipment to electrical household appliances make up the electrical and electronics industry. The industry is fast-moving and ever-evolving, with product life cycles resembling that of fashion retail. A product that is in demand one day can be replaced by newer, shinier product the next, making its supply chain complex and challenging.
Still, the growth of the Consumer Electronics (CE) industry is undeniable. Revenue in the Consumer Electronics market amounts to US$ 146,616m in 2021 and the market is expected to grow annually by 0.11% (CAGR 2021-2025).The industry churns out an overwhelming number of goods each year that look nothing like the products released the following year. The growth and evolution of electronic products depends not only on the way customers interact with and consume entertainment but also on how they manage their finances and organize their lives.
With E-commerce becoming more complex, thanks to increasing customer demands, it is imperative to increase operational efficiencies across all miles.Read more
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