The consumer segment in recent years has gained significant popularity in the selling product categories in the retail industry. Consumer electronics are the electronic devices that are in use for everyday use for the purpose of entertainment and communications.
The consumer electronics segment is categorized into different products which include Mobile Devices, Wearables, TV Sets, Laptops, and White goods.
Japan is among the major consumer of consumer electronics in the world as the rapid urbanization and growth in the disposable income of its citizens has given impetus to the growth in the consumption of consumer electronics products in the region. Moreover, the technological advancement in the region has boosted local players in the manufacturing of consumer electronics.
The consumer electronics segment in Japan reached a value of $9 billion in 2021, witnessing a decline of 7% from the previous year this was mainly on account of growth in the retail product categories in the region that was impacted by the pandemic Covid-19. Moreover, the demand for consumer electronics saw a further impact as the pandemic caused supply chain disruptions due to lockdown restrictions.
The market size of the Consumer Electronics segment in the region has seen a compound annual growth rate of 0.6% from the period 2017-2021. The reduction in CAGR was mainly on account of the Covid-19 pandemic which impacted the region in 2020.
The major consumer electronics brands that dominate the Japanese consumer electronics industry, and are namely Hitachi, Panasonic, Nikon, and Toshiba.
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