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Part 1: What is the current Consumer Electronics market share, broken out by country, and what are their growth projections?
Hi! Thank you for your question about the current Consumer Electronics market share, broken out by country, and what are their growth projections.
In short, the global consumer electronics market is estimated to be $1.6 trillion. The top 7 major markets are China ($81.7 billion, future CAGR 14.8%), US ($62.75 billion, future CAGR 11.7%), Japan ($18.4 billion, future CAGR 6.4%), Germany ($14.1 billion, future CAGR 5.3%), UK ($14.45 billion, future CAGR 6.1%), India ($3.89 billion, future CAGR 21.5%), and South Korea ($3.42 billion, future CAGR 9.9%). I have provided a deep dive of my findings below.
OVERVIEW
The global consumer electronics market is expected to reach $2.9 trillion by 2020 which is also supported by the forecast by Future Market Insights. The growth is estimated at a CAGR of 15.4%. Therefore, we can calculate the present market size as $2.9 trillion / (1.154^4) = $1.6 trillion in 2016. Based on statistics from Statista, the top 7 major markets for consumer electronics are China, US, Japan, South Korea, Germany, UK and India. We look at these major markets market size estimates and projected growth.
MAJOR MARKETS
1. China’s market size of consumer electronics is $81.7 billion and is expected to grow at a CAGR of 14.8% till 2021.
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2. US segment of consumer electronics is $62.75 billion and is expected to grow at a CAGR of 11.7% till 2021.
CONCLUSION
To conclude, the global consumer electronics market is estimated to be $1.6 trillion. The top 7 major markets are China ($81.7 billion, future CAGR 14.8%), US ($62.75 billion, future CAGR 11.7%), Japan ($18.4 billion, future CAGR 6.4%), Germany ($14.1 billion, future CAGR 5.3%), UK ($14.45 billion, future CAGR 6.1%), India ($3.89 billion, future CAGR 21.5%), and South Korea ($3.42 billion, future CAGR 9.9%).
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