The durables (Consumer Appliances and Consumer Electronics) market is changing rapidly and the environment in which it operates is more turbulent than ever. Euromonitor International is delighted to introduce a new tool, the Forecast Model Durables (FM Durables), that can assist in plotting a course through this disruption and navigate future market evolution.
IFA 2022 Berlin took place in a physical space for the first time after a three-year break. The conference featured the latest product innovations and industry hot topics, and also allowed experts to get back together. The 2022 IFA conference revolved around three themes, as expressed by IFA’s Senior Vice President David Ruetz in his opening speech – connectivity, smart home and sustainability.
The latest consumer electronics research shows that retail value sales are projected to register a 4% CAGR over the forecast period worldwide, despite inflationary pressure and global supply chain constraints causing havoc globally. What are the factors that are driving the growth of consumer electronics as the world transitions to the new normal?
Only 55 companies have remained on the Fortune 500 list continuously since its inception in 1955. In that year, GM was the biggest company in the world. 70 or so years later, Wal-Mart, a discount store, is the biggest, while GM filed for bankruptcy in 2009. A generation ago, a “Kodak moment” referred to a picture-worthy moment. Today, it is widely used to describe companies that failed to adapt to market disruptions. Clearly, companies need to innovate their products and business models to survive.
Apple achieved its highest ever sales in 2021, despite global macroeconomic challenges. The company is shifting its business towards services, a strategy intended to avoid overreliance on sales of iPhones and to grow the company's user base.
Samsung enjoyed a stellar 2021, as high demand continued to be driven by pandemic-related interest in TVs, smart wearables and headphones. To fight competition from China, Samsung offered affordable 5G lines of smartphones. The company also invested in the Samsung Galaxy ecosystem and service development, to maximise cross-selling and as a further challenge to Apple.
Headphones is the fastest growing category in consumers electronics with many brands flooding the market. How can new entrants or established brands stay relevant in the overly crowded headphones market?
The much anticipated rollout of high-speed 5G networks in the United States began in earnest in 2019 when many of the nation’s wireless carriers began offering coverage in large cities. Urban areas like Chicago, Los Angeles and Atlanta were the first…