Electronics & Smart Devices Segmentation
By Product (Electronic Devices, Home Appliances)
Electronic devices segment is expected to hold electronics & smart devices market share of more than 56% by 2037. In 2023, global electronic market observed a surge of USD 610 billion in revenue, projected 7.16% of growth in electronic device sales. Electronic devices are obvious market leaders, thanks to the fact that they are present in nearly every household. The market is on the move with enhancing technologies such as wearables, smart devices and products based on the IoT. This dynamic is propelled by a numerous elements like disposable income growing, digitization, and automation, as well as the rising number of identity devices which are used.
By Technology (Wi-Fi, Bluetooth, Near Field Communication)
In electronics & smart devices market, Wi-Fi segment is set to dominate revenue share of around 48% by the end of 2037 because of its high level of adoption in demands across different industries. 2023 has marked the bench of USD 5 Billion revenue in internet usage. Asia Pacific is perceived to have the biggest market share, this due to the presence of the market pacesetters in the region. IoT in areas such as smart homes, healthcare and education among others, is driving the adoption of advanced Wi-Fi technology which is scalable and strong on the global level. This dramatic increase in demand for Wi-Fi has particularly benefitted small and medium enterprises, fostering the industry growth.
By Distribution (Online, Offline)
By 2037, offline segment is set to account for electronics & smart devices market share of around 53% as specialty electronic shops where the product you are buying can be tested before you make a purchase provide customers with the opportunity to understanding the device features in these shops. Our research has observed, The percentage of offline retail in the smartphone sales went up to 61% in the three months ending March 31, as compared to 56% in the December quarter. This aspect allows customers to select and compare among many brands in the market that resulted to the high footfalls in these shops. In face of the newly emerged online market, offline segment is though holding strong and that is particularly true in the Asia Pacific, where Sony ad Samsung are the main players.
Our in-depth analysis of the electronics & smart devices market includes the following segments:
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