Electronics retail also known as consumer electronics encompass devices meant for everyday use. Particularly, communications, entertainment, office productivity and others fall under the category of consumer electronics. Technically, consumer electronics include several components for manufacture such as electronic component, software development and standardization. Electronic component is any discrete device or physical entity in an electronic system to affect associated fields or electrons. Electronic components mostly are industrial products available in a single form and not to be mixed with electrical elements.
Software provides the necessary operations for a digital device to function. Consumer electronics such as personal computers use various types of software in some consumer electronics such as mobile phones. In some, consumer electronics software is used on a personal computer couple with electronic devices such as camcorders and digital cameras and a third-party software also exists for such devices.
Consumer electronics show is held timely in different countries with thousands of products on display. The products adhere to standards of IEEE which is the world’s largest professional scientific and technical society with initiatives for state-of-the-art consumer electronics. IEEE beholds a dedicated society of professionals to promote consumer electronics.
Commercially, electronics retailing is a crucial part of retail industry in many countries. Big players such as Wal-Mart and Target are too engaged in electronics retailing. With growing demand for SMART devices and growing consumer base, the global electronics retailing market witnesses a trajectory growth in the upcoming years. The key driving factors responsible for the growth of global electronics retailing market include growth in number of devices such as smartphones, laptops, tablets, digital cameras, MP3 players and personal care devices.
However, factors such as new market entrants, technological upgrade and heavy competition are posing as growth challenges for the market. On the basis of product, the global electronics retailing market is segmented into handheld devices, laptops, smartphones, personal computers, cameras and camcorders, audio/video devices, personal care products and gaming consoles. On the basis of end-use application, the global electronics retailing market is segmented into residential and commercial. Commercial segment is anticipated to grow at a higher CAGR during the forecast period owing to growth in IT and infrastructure.
On the basis of geographic segmentation, the global electronics retailing market spans North America, Latin America, Europe, Asia Pacific, Middle-East and Africa. North America is anticipated to grow at a higher CAGR during the forecast period owing to presence of big players and rising number of startups. APAC regions such as Japan and China are anticipated to grow rapidly during the forecast period owing to technological know-how, potential market and a strong customer base. The key players in the global electronics retailing market include LG Corporation, Canon, Inc., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Dell, Inc., Hewlett-Packard Company, Sony Corporation, Apple, Inc., Nikon Corporation, and Panasonic Corporation.
Research Support Specialist, USA