According to the research conducted by Future Market Insights, the global consumer electronics market will be worth US$ 2976.1 Billion by 2020. It is anticipated that the global consumer electronics market will witness an annual growth rate of over 15% during the forecast period 2015 and 2020.
The demand for latest gadgets and wearable devices, especially in the emerging markets, is anticipated to boost the consumer electronics market during the forecast period 2015 – 2020.
Among the various segments of the global consumer electronics market, the demand for consumer electronics devices and smart home devices is anticipated to be robust through 2020.
The demand for consumer electronics and gadgets is quite strong in the emerging nations, and this trend is anticipated to continue in the near future as well. This presents a crucial opportunity to online retailers to tap into this market.
TO ENTER THIS NICHE MARKET
- $1,200 amount an average US citizen spends annually on consumer electronics.
- 72% of US Internet surfers use their computers to listen to music and podcasts.
- 28% share of holiday gift-giving budgets likely to be spent on consumer electronics.
- 29% of online shoppers have purchased computers or electronics at category-specific online stores and 17% at webstores.