According to Cognitive Market Research, The Global Consumer Electronics market size is USD 742.6 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.20% from 2023 to 2030.
The demand for smartphones is rising because smartphones enable a wide range of services, including texting, web surfing, multimedia playback, mobile payments, and real-time access to data.
Demand for laptops & notebooks consumer electronics remains higher due to their small stature and low weight, and users may take their computing resources with them wherever they go.
The increasing demand for online distribution channels in consumer electronics. Because of the widespread availability and convenience of online distribution channels, consumers worldwide may buy them from anywhere they choose.
Asia-Pacific will continue to lead, whereas the North American smartphone market will experience the most vigorous growth until 2030.
