World Market for Consumer Electronics

August 2021

Sales of consumer electronics saw only a slight impact from the Coronavirus (COVID-19) pandemic, and growth is projected to remain strong in the forecast period. Companies are investing in R&D and are looking for ways to reinvent their business models to ensure continued growth.

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Key Findings

Affordable flagship models

Chinese brands like Xiaomi and TCL have been rapidly gaining sales by offering products at competitive prices while still offering the features commonly found on the flagship models of the major consumer electronics companies.

Relentless spending on R&D

Companies are investing in R&D to reinvigorate demand for consumer electronics. Development efforts are focusing on developing cutting edge technologies and enhancing older technologies, like LCD panels.

New business models for growth

Now that the market is becoming saturated and demand is stagnating or even weakening, companies are being forced to rethink their existing business models.

Hometainment on the rise

Consumers spent more time at home during the pandemic, thus demand for products related to hometainment increased. This trend is likely to persist even as the world transitions to the “new normal”.

Right to repair legislation faces difficulties

The cost and design penalty to accommodate right to repair legislation may diminish the impact of the law.

Introduction

Scope
Trends shaping consumer electronics

Global Outlook

Consumer electronics in context: growing despite the pandemic
Survey: most companies expect a strong recovery in 2021
Strong forecast growth in the post-pandemic world (2022-2026)
Headphones emerge as the saviour for consumer electronics
Asia Pacific is poised for strong growth
Sales of headphones will continue to grow over the forecast period
E-commerce does not diminish the importance of physical stores

Leading Companies and Brands

Consumers in Asia Pacific are embracing Chinese companies
Chinese companies disproportionally strong in emerging markets
Computers and peripherals: MacBook’s M1 chipset is a masterstroke
In-car entertainment: lack of strong competition is good for Pioneer
In-home consumer electronics: TCL reaping the benefits of R& D
Portable consumer electronics: AirPods driving sales for Apple
Chinese consumers loving iPhones again

Key Trends Shaping Consumer Electronics

Trends shaping consumer electronics
Chinese brands gaining sales with affordable flagship models
Chinese brands dominated benchmark tests
Relentless spending on R&D to differentiate from competition
Companies reinventing business models to drive revenue growth
New business models: categories and services
Hometainment : work and play at home
Right to repair legislation faces difficulties (for now)

Market Snapshots

Global snapshot of computers and peripherals
Global snapshot of in-car entertainment
Global snapshot of in-home consumer electronics
Global snapshot of portable consumer electronics
Regional snapshot: Asia Pacific
Regional snapshot: Australasia
Regional snapshot: Eastern Europe
Regional snapshot: Latin America
Regional snapshot: Middle East and Africa
Regional snapshot: North America
Regional snapshot: Western Europe

Appendix

Data parameters and report definitions (1)
Data parameters and report definitions (2)
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