As per the research report titled ‘Europe Consumer Electronics Market Forecast 2027 By Product, By Application, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe consumer electronics industry is poised to amass a valuation of US $450 billion by the year 2027. 

The major growth driver influencing Europe consumer electronics marketplace is the consistent advancements in technologies. The invasion of human civilization by artificial intelligence (AI), Internet of Things (IoT), smart homes, smartphones, linked automobiles, and smart TVs is the key to robust industry growth.

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Furthermore, the remote working trends have triumphantly raised the significance of wireless and advanced technologies. Even before the outbreak of COVID-19, there was a surge in demand for advanced wireless technologies owing to their long-term utilization abilities. Consistently demand for innovations that try to fascinate human imagination as well as resolve everyday issues will stimulate the industry outlook.

Based on the product spectrum, Europe consumer electronics marketplace is segmented into major household appliance, audio & video equipment, digital photo equipment, and small household appliance. Among these, digital photo equipment segment is estimated to be major contributor to market growth through 2027, due to technological developments like the launch of ultra-zoom lenses and IP network cameras.

Considering the application terrain, the industry can be classified into personal and professional. The industry share from the personal segment is set to show a substantial rise through 2027. This is due to the surge in demand for wireless technologies, and investment in products like PCs, laptops, and televisions by consumers.

Witnessing the regional landscape, the United Kingdom market is expected to witness a substantial rise in the revenue share by 2027, due to the rising consumer base, especially opting for a smartphone with excellent camera capabilities. 

The major organizations in Europe consumer electronics industry space are Whirlpool Corporation, Toshiba Corporation, Sony Group Corporation, Siemens AG, Samsung Electronics Co. Ltd., Panasonic Holdings Corporation, Nikon Corporation, LG Corporation, Koninklijke Philips N.V., Hitachi Ltd., Haier Group Corporation, Google LLC, Dell Inc., Bose Corporation, Acer Inc., Electrolux AB, Apple Inc., Canon Inc., Fujifilm Corporation, GoPro Inc., Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., Lenovo Group Ltd., Microsoft Corporation, Guangdong OPPO Mobile Telecommunications Corp. Ltd., Robert Bosch GmbH, Sennheiser Electronic GmbH & Co., Sonos Inc., TCL Technology, and Vivo Communication Technology Co. Ltd.