The consumer electronics industry is poised to grow over the next few years, and the following trends are likely to influence its development. With increased usage convenience and the growth of consumer electronics, these trends are set to continue. Voice-assist and AI-powered appliances are on the rise, and players are beginning to include multiple features in their devices. The Premium Soundbar Line-up from Samsung, launched in July 2020, features the Alexa voice service and SmartThings App.
For brands looking to succeed in the coming year, premiumization and simplification are two of the most important trends. While consumers still favor a simpler, cheaper option, they are increasingly choosing devices that offer innovative solutions and improved features. Some of the most popular examples of premiumization include robotic vacuum cleaners with docking stations, ultra-thin notebooks under 18 millimeters thick, and TVs with screen diagonals above 65 inches. These products have seen huge revenue gains, outperforming their cheaper counterparts.
The report outlines trends and company profiles of the premiumization industry. It identifies the leading players and highlights the challenges that they face. Whether you are an existing company or starting from scratch, this research report will help you identify the best opportunities and prepare for the coming years. With so much information at your fingertips, it’s easy to see why premiumization is becoming a top trend in the consumer electronics industry.
With digitalization and access to the internet continuing to expand, the consumer electronics industry continues to grow. The report examines the current state of the industry as well as its future trends through 2022. This includes miniaturization and the increasing demand for smaller, lighter, and more portable electronics.
The development of miniaturization has facilitated the use of electronics in a variety of fields. For example, once confined to the realm of pure mechanics, electronics made their way into the automobile in the 1930s. Today, automobiles contain up to 100 microprocessors. With autonomous driving becoming a reality, electronics will be a crucial component of the car. These developments will continue to push the limits of the automobile industry.
In addition to miniaturization, other trends will impact the consumer electronics industry. The internet of things, artificial intelligence, 5G connectivity, and the Metaverse are just a few of the emerging technologies. Combined, these trends are likely to continue to shift consumer behaviour and demand. As a result, brands must adapt to these new trends to remain competitive. It’s important for companies to make sure they remain focused on the consumer’s needs and wants.
One of the fastest growing industries, the consumer electronics industry shows no signs of a slowdown in innovation or revenue. The industry has weathered locations for Consumer Electronics chains disruptions, a pandemic-driven home entertainment boom, and digital transformation. Today, this dynamic sector continues to grow and develop, and new trends are emerging in this industry every year. Let’s explore some of the emerging trends in this industry and what they mean for your business.
In the consumer electronics industry, printed electronics are gaining popularity. Printing thin batteries, for example, play a key role in electronic devices. This type of battery is thin, lightweight, and compact, allowing them to fit into device packages. Additionally, with the trend of monitoring and tracking the use of prescribed drugs, a new type of compliance card packaging solution was created. This solution features printed carbon traces and a battery to log when a medicine has been taken. It also provides patients with reminders to take the next dosage.
The printed electronics market will grow by nearly 12% in the next five years, according to the SmarTech Publishing report. Printed electronics are currently used in prototypes, but mass production can be achieved by using the technology in the consumer electronics space. The opportunities in this market are huge, so it’s no surprise that it’s among the fastest growing segments of the industry.
There are several key benefits of 3D printing as a consumer electronics industry development. In addition to the obvious benefits of shortening the supply chain, 3D printed electronics can simplify the downstream process by reducing manufacturing and procurement costs. Additionally, on-demand manufacturing can reduce downstream service costs by replacing physical inventory with digital inventory. However, these benefits are not without their challenges. In this article, we will examine three key advantages of 3D printing for consumer electronics.
This is largely due to the disruption caused by COVID, which disrupted global production. While 3D printing wasn’t as mature in the early 2010s, it is now capable of true series production applications. We will see a growing number of 3D printing vendors, technologies, and materials. As the process of 3D printing evolves, more companies will adopt it.
Three major markets in the global 3D printing market are North America, Europe, and Asia Pacific. North America held the largest share of revenue in 2021, followed by the Middle East and Latin America regions. The Asian-Pacific region is projected to grow at the highest CAGR during the forecast period. This region is gradually establishing itself as a manufacturing hub and is receiving substantial foreign investment.
The increasing visibility of climate change and political events have put sustainability at the top of consumers’ mind. A recent report by Shopify’s Future of Commerce highlights a shift in consumer behavior: nearly half of customers try to purchase products packaged sustainably and more than a quarter avoid purchasing products in plastic packaging altogether. As a result, businesses need to change their methods and practices to accommodate this major shift in consumer behavior.
The growth in global access to the internet, advancing technologies, and changing demographics all contribute to this industry’s rapid evolution. In addition to global expansion, the consumer electronics industry continues to evolve and is constantly evolving to meet consumer needs and wants. As a result, companies must evolve their eCommerce strategy to keep up with changing consumer expectations. One way to stay ahead of the competition is to build a data-driven eCommerce strategy.
Consumers’ demand for faster delivery and lower shipping costs are key to eCommerce’s continued growth. Amazon achieved this by dispersing inventory around the globe and streamlined its supply chain to reach customers faster. This is also a good way to attract eco-conscious consumers.