Moreover, increasing adoption of smartness in the Asia Pacific region, especially in the populous countries of China ND India is supporting the growth of global consumer electronics market,” said Vincent Kumar, an analyst at Future Market Insights. This report covers device types, namely consumer electronics device, wearable device and smart home device. Consumer electronic device segment dominated the market in 2014 and is expected to remain dominant during the forecast period. However, smart home device segment is projected to expand at a fastest CARR of 23% between 2015 and 2020.
Consumer electronics device segment is further sub-segmented into smartened, feature phone, tablet, smart TV’s, other TV’s, set-top box, personal computer, digital newcomer & camera, digital media adapter, digital video recorder (DVD), game console, printer and other consumer electronics device. Among all the aforementioned subbasements, smartened sub-segment was the largest contributor to the consumer electronics device segment revenue, with over 25% market share in 2014. Further, smart-phone sub-segment is estimated to exhibit fastest CARR of over 20% between 201 5 and 2020.
However, feature phone sub-segment is likely to experience negative CARR throughout the projected period as consumers are shifting from feature phone to smartened. Game console sub-segment has been facing stiff competition from tablets Future Market Insights 2 and smartness, as these devices have emerged as a viable substitute for game console. The wearable device segment includes smart accessory and other wearable device, while smart home device is sub-segmented into smart kitchen appliance and security & HAVE system.
This report also covers the seven regions such as North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APE]), Japan, and Middle East & Africa (MEA) in the consumer electronics market. Of all the regions, APE] and North America were the most prominent regions, with over 40% share of the global consumer electronics market in 2014. Additionally, consumer electronics market in APES is projected to witness the fastest CARR over the forecast period. Eastern Europe and Latin America are the other attractive regional markets in terms of revenue CARR.