According to the recent research report titled ‘Global Consumer Electronics Market Size study, By Product (Smartphones, Tablets, Desktops, Laptops/Notebooks, Digital Cameras, Hard Disk Drives, E-readers) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global consumer electronics market is expected to witness considerable growth over 2021-2027.
 

As per the report findings, global consumer electronics industry growth is being pushed forward by increasing number of technical innovations and improvements. Moreover, growing adoption of smart and innovative devices such as mobile phones and tablets with wide input capabilities is expected to boost the market growth.
 

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Notably, consumer electronics includes compact disc players, smartphones, cell phones, tablets, and other electronic gadgets that are used on a daily basis. This includes recreation, communication, and entertainment gadgets.
 

According to an EWI (Edison Welding Institute) analysis, drones, smart homes, 3D printers, 4K televisions, communicative robots, and autonomous vehicles are just a few of the crucial developing technologies that will play a large role in lives in the future years.  
 

Moreover, Consumer Technology Society cites that advancements in the information & technology sectors, such as vehicle navigation and control systems, have made technologies associated to consumer electronics products more accessible. In addition to this, Rising purchasing power across the globe is also adding to global consumer electronics market remuneration.
 

Despite the positive outlook, digital convergence is likely to stifle market growth over the assessment period.
 

Based on product type, the market is split into e-readers, hard disk drives, digital cameras, desktops, laptops/notebooks, tablets, and smartphones.
 

Coming to geographical ambit, Europe, North America, Asia Pacific, and Latin America are the major regions studied for the regional assessment of the overall market. North America is the most important region in the world in terms of market share, owing to the new smartphone growth and programs.
 

On the other hand, Asia-Pacific market is projected to amass notable gains by the year 2027, creditable to rising penetration of innovative and smart products.
 

Elaborating on competitive landscape, Lenovo Group Ltd., Huawei Technologies, HTC Corporation, Hewlett-Packard Enterprise, Google Inc., Dell, Canon Inc., BlackBerry, and Asus are the leading companies operating in global consumer electronics marketplace.