Consumer Electronics Sales Set to Accelerate, Study Says
Maharashtra, India – The global consumer electronics market is expected to grow 6.1% year-over-year in 2025 to $864.7 billion, according to a new forecast.
Market researchers at Fortune Business Insights report that the market, valued at $815 billion in 2024, will expand to $1.47 trillion by 2032, resulting in a CAGR of 7.9% between 2025 and 2032.
Data indicate the rising trend of connected homes is driving penetration of smart appliances globally. Consumers increasingly adopt appliances equipped with voice assistance, Bluetooth and wifi connectivity due to their higher convenience.
Asia-Pacific dominated the consumer electronics space with sales of $310.4 billion and a market share of 38% in 2024, TBI said. The firm anticipates the region will continue its run across the global market owing to the presence of major players such as Sony, Samsung, Panasonic and LG coupled with an aggregate population of more than 4.3 billion.
Surging disposable income of the population in the region has led to a significant increase in home appliance consumption in countries such as China, India, and other Southeast Asian nations, FBI added.
Although consumer electronics manufacturers are highly concentrated in the Asian region, players in Europe are making efforts to increase domestic manufacturing to meet growing consumer demand. Deutsche Telekom, for instance, has launched 5G smartphones across the entire European region, and smart home appliance demand is escalating.
North America holds a significant market share owing to rising demand for wearables, speakers and monitors, plus steady demand for gaming monitors and consoles.
South America is emerging in the market, driven by increasing urbanization likely to boost product penetration, the FBI said. Improvements in broadcasting, video streaming and internet facilities will boost product consumption, and other estimates suggest that 5G connections will reach 62 million by 2025, a ~10% adoption rate of 5G connections and ~67% adoption rate of 4G connections in the region.
Hot Takes
NAND production market conditions seem to be nearing the bottom, as SanDisk will implement prices increases of over 10% starting Apr. 1. (TrendForce)
Taiwanese PCB equipment manufacturers reported revenue rose 10.5% year-over-year in January. (TPCA)
Server revenue reached a record $77.3 billion during the fourth quarter, marking the second highest growth rate since 2019 with a year-over-year increase of 91% in vendor revenue. (IDC)
The chip resistor market will grow at a 7.1% CAGR, reaching $2.4 billion by 2031. (Transparency Market Research)
Global server shipments are poised to rise 2.3% to 15 million units in 2025, but the growth rate will slow versus 2024. (DigiTimes)
Smartphone unit sales are forecast to grow 2.3% year-over-year in 2025 to 1.26 billion units. (IDC)
Global smartphone production in the December quarter reached 335 million units, reflecting a 9.2% increase sequentially, driven by Apple’s peak production season and consumer subsidies from local Chinese governments. (TrendForce)
Global semiconductor revenue will likely grow 13.4% year-on-year to surpass $700 billion in 2025, and AI applications will remain the key driver of industry growth, fueling continued demand for AI and memory chips. (DigiTimes)
The Russian electronics industry requires $3.8 billion in private investment to meet government targets. However, private investors are unlikely to contribute the full amount, and the state can only provide a fraction of the necessary funding. (Kama Flow)
Taiwan’s exports in February rose 31.5%, well above expectations as demand for artificial intelligence related technologies surged from buyers trying to get ahead of new tariffs in the US. (Taiwan Ministry of Finance)
Worldwide semiconductor revenue in 2024 totaled $626 billion, an increase of 18.1% from 2023. (Gartner)
The 90-day moving average shipments by North American EMS companies rose 1.7% in year-over-year in February and ticked up 0.2% over the previous month. Bookings fell 3.6% year-over-year in February while increasing 8.6% from the previous month. (IPC)
North American PCB fabricators’ shipments rose 11.3% year-over-year in February but fell 1.5% sequentially. Bookings jumped 17.8% versus a year ago and rose 19.9% from January. (IPC)
