Voice of the Industry: Consumer Electronics 2022

May 2022

In the Voice of the Industry series, Euromonitor International connects with industry professionals to explore trends and innovations. This report focuses on the consumer electronics industry, drawing on a survey of 277 professionals working in the industry in over 55 countries around the world.

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Top Findings from Euromonitor International’s Consumer Electronics Voice of the Industry survey include:

According to industry professionals, sales of consumer electronics in 2022 are expected to be stronger than previous year.

More than half of respondents from industry businesses expect supply shortages to have at least a moderate negative impact on product sales.

Industry experts indicate that in recent years their companies have been moving towards premium and digital commerce. The COVID-19 pandemic led to rapid growth in e-commerce.

The industry is increasing its focus on young and urban consumers.

More than half (57%) of industry experts agree that their company is pivoting towards premiumisation of their products and services.

Scope of the Report

Voice of the Industry: Consumer E lectronics snapshot

Market Outlook

Overall positive expectations for 2022
More than half respondents expect supply shortages
Excess stockpiling could delay full recovery of supply chains
Concerns around impact of supply shortages on industry sales

Business Model and Industry Innovations

E-commerce and new technologies are the focus areas for companies
E-commerce and new technology investment still booming in 2022
The willingness of companies to relocate has reduced significantly
Tech companies are shifting their target to Gen Zers
Differences between millennials and Gen Z
Supply chain crunch forced firms to focus on higher margin products

Voice Commerce

Cost and large installed base are reasons to use Google and Alexa
Voice commerce still struggling to gain traction

About Voice of the Industry

About Euromonitor International’s Voice of the Industry survey series
Respondents

Consumer Electronics

Consumer Electronics refers to the sales of Computers and Peripherals, In-Home Consumer Electronics, In-Car Entertainment and Portable Consumer Electronics to the end consumer.

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