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Market Size of Retail Consumer Electronics in Asia-Pacific (2017-2021, $ Billion)

Industry: Electrical And Electronics Specialists
Current: Market Sizing & Shares

The Consumer Electronics segment in Asia- Pacific reached a value of $61 billion in 2021
In Asia- Pacific region, China, and India which account for 11% and 5% respectively of the global market share
The Consumer Electronics segment in Asia- Pacific has seen a compound annual growth rate of 0.56% from the period 2017-2021

Consumer Electronics includes a wide range of products which are namely portable digital radios, TVs, Home theatres, In Car-entertainment, Household appliances, etc.

The Consumer Electronics segment in Asia- Pacific reached a value of $61 billion in 2021, witnessing an increase of 2% from the previous year this was mainly on account of growth in the retail product categories after nations across the globe saw a recovery in the overall demand post-pandemic COVID-19. Moreover, both brick & mortar and online businesses resumed their operations after being under restrictions for a period of almost two years.

In Asia- Pacific region, China, and India which account for 11% and 5% respectively of the global market share.

Furthermore, consumer spending on lifestyle products has increased and is expected to witness growth further in the near term on the back of the recovery from the pandemic.

The Consumer Electronics segment in Asia- Pacific has seen a compound annual growth rate of 0.56% from the period 2017-2021. The growth in consumer electronics was primarily on account of an increase in the incomes of consumers coupled with rising interest in the usage of electronic goods. Moreover, the new age of consumer electronics is bringing more convenience to its users which is further supporting the demand overall.

Meanwhile, the Sale of consumer electronics is showing more growth compared to the retail sale with the changing consumer behavior and rising internet penetration. This trend went up more during the COVID-19 pandemic on account of lockdown measures in place.

The major Consumer Electronic players which have a strong dominance in Asia-Pacific include Samsung, Panasonic, Hitachi, Apple Inc, OPPO.

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