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Consumer Electronics Market Size Analysis

Views: 1     Author: Site Editor     Publish Time: 2022-02-22      Origin: Site

In the future, with the integration of emerging technologies such as 5G, Internet of Things, artificial intelligence, virtual reality, and new displays with consumer electronic products, product upgrading will be accelerated, new product forms will be born, and the consumer electronics industry will maintain a growth trend. January 2020 -In December, the main business income of my country's electronic information manufacturing industry above designated size was 12,099.21 billion yuan, a year-on-year increase of 8.3%; from the perspective of industry operation trends, in the first quarter, the first half of the year, the first three quarters and the whole year, the added value of the electronics manufacturing industry The cumulative growth rates were -2.8%, 5.7% and 7.2% and 7.7% respectively. The global consumer electronics industry market size is expected to reach $1.11 trillion by 2023.


As an important smartphone market in the world, China has benefited from the rapid development of the consumer electronics information industry, and shipments have grown rapidly. Despite the raging epidemic in 2020, the performance of the consumer electronics market is not very bad. The consumer electronics market is expected to exceed $1 trillion in 2020 and is estimated to grow at a CAGR of over 7% between 2020 and 2026. Entering the era of 5G commercial use, the acceleration of consumer electronics technology innovation and product iteration will be an obvious trend.


Ranked according to the company's market value or valuation, the top 10 local consumer electronics companies in China are listed. The list shows that Huawei has become the most valuable consumer electronics company in China with a value of 1.1 trillion, Xiaomi ranked second with a value of 434 billion, and VIVO surpassed OPPO for the first time in value, ranking third with a value of 175 billion. OPPO, DJI, Transsion Holdings, Lenovo Group, Yingqu Technology, Wuxin Technology, and Edifier ranked 4th to 10th.


China's top 10 consumer electronics companies are mainly headquartered in Shenzhen and Dongguan. The Greater Bay Area accounts for seven of the top ten, including five in Shenzhen, two in Dongguan, two in Beijing and one in Xiamen.


Analysis on the Development Prospect of Consumer Electronics


With the deepening of the division of labor in the consumer electronics industry, consumer electronics companies are gradually differentiated into brands, solution providers, manufacturers, etc., and their positioning is more clear. The clear industry division of labor has made the concentration of the consumer electronics industry continue to increase. Some small-scale manufacturers with weak technical strength gradually withdraw, and industry resources are gradually concentrated to larger-scale manufacturers.


The vigorous development of the downstream consumer electronics product market in the consumer electronics industry will inevitably promote the rapid growth of the market demand for the metal structural parts industry of consumer electronics products. The executive secretary general of the China Electronic Video Industry Association said that the annual output value of the upstream and downstream of my country's consumer electronics industry chain is as high as 6 trillion yuan, and the output of terminal products in the consumer electronics industry accounts for more than 70% of the world's total, and has gradually developed into the forefront of global consumer electronics products. consumer market.


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