The Consumer Products-Electrical And Electronics by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Consumer Products-Electrical And Electronics , The consumer products – paper, plastics, rubber, wood and textile market size has grown strongly in recent years. It will grow from $62.69 billion in 2023 to $66.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to global urbanization, smart home adoption, e-commerce growth, consumer lifestyle changes, obsolescence and upgrades, product miniaturization, environmental considerations.
The consumer products – paper, plastics, rubber, wood and textile market size is expected to see strong growth in the next few years. It will grow to $85.94 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to sustainability and circular economy, electric vehicles and charging infrastructure, cybersecurity concerns, subscription services, customization and personalization.. Major trends in the forecast period include advancements in wearable technology, integration of artificial intelligence (ai), 5g connectivity in consumer devices, expansion of the internet of things (iot), flexible and foldable displays
The rising government initiatives are expected to propel the growth of the consumer products-electrical and electronics market going forward. Several governments are initiating various initiatives on smartphones, IoT devices, and other electronic products to support the growth of consumer products-electrical and electronics. For instance, in November 2021, The government of the UK initiated the Product Security and Telecommunications Infrastructure (PSTI) bill which promises to protect IoT devices. This aims to mandate that all devices have the capabilities to connect to other devices without the need for the internet, like smart light bulbs and smart thermostats. These cybersecurity standards are applicable to all the manufacturers of IoT devices including those that also distribute and import phones, TVs, fitness devices, and other handheld devices. Therefore, rising government initiatives drive the consumer products-electrical and electronics market.
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The consumer products-electrical and electronics market covered in this report is segmented –
1) By Type: Conventional, Smart
2) By Technology: Near Field Communication (NFC), Magnetic Secure Transmission (MST), Artificial Intelligence, VR (Virtual Reality) Technology, Generation PCL Technology, Other Technologies
3) By Application: Personal, Professional
4) By Distribution Channel: Online, E-Commerce Websites, Company-Owned Websites, Offline, Hypermarkets And Supermarkets, Departmental Stores, Specialty Stores
Technological advancement is a key trend gaining popularity in the consumer products-electrical and electronics market. Major companies operating in the market are introducing innovative products with advanced technologies to strengthen their position. For instance, in May 2022, Samsung, a South Korean multinational electronics corporation launched an AI-Enabled & Connected AI EcoBubble Washing Machine range. This machine offers unique features such as AI wash, air wash technology, and a super speed cycle that adds higher capacity models. Additionally, when connected with the Samsung SmartThings App, these machines provide better and unique wash options and also give automatic recommendations for optimal wash cycles based on information such as color, fabric type, and degree of soiling provided by the user.
The consumer products-electrical and electronics market report table of contents includes:
1. Executive Summary
2. Consumer Products-Electrical And Electronics Market Characteristics
3. Consumer Products-Electrical And Electronics Market Trends And Strategies
4. Consumer Products-Electrical And Electronics Market – Macro Economic Scenario
5. Global Consumer Products-Electrical And Electronics Market Size and Growth
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26. South America Consumer Products-Electrical And Electronics Market
27. Brazil Consumer Products-Electrical And Electronics Market
28. Middle East Consumer Products-Electrical And Electronics Market
29. Africa Consumer Products-Electrical And Electronics Market
30. Consumer Products-Electrical And Electronics Market Competitive Landscape And Company Profiles
Top Major Players:
- Samsung Group
- LuckyGoldstar Electronics Inc
- Sony Corporation
- Panasonic Corporation
- Koninklijke Philips N.V.
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