“Growing preference for usage of
electronic devices in daily chores is primarily driving the market for consumer
electronics,” the research firm reports.
“Soaring internet penetration and increasing disposable income are allowing
consumers to use multiple electronic
devices. This will continue to fuel the
market growth over the next few years.
Rapid adoption within a short span
from their inception is a prominent factor indicating the potential of wearable
Holiday Shoppers Love
Jack Cutts, director of industry and
business intelligence at the Consumer
Technology Association (CTA), says
a clearer picture of the key consumer
electronics growth areas began to
emerge during fourth-quarter 2017,
right around the same time online and
offline retailers started gearing up for
the holiday selling season.
For the first time ever, more con-
sumers planned to use smartphones
(61 percent) to do their online holiday
shopping compared to any other de-
vice, including laptops (54 percent)
and desktop computers ( 46 percent),
during the month of November, ac-
Friday Survey. The CTA also found
that one in five online U.S. adult shop-
pers planned to use voice-activated
smart speakers, such as an Amazon
Echo or Google Home, to shop online
during the holiday season.
Additionally, 2017 also is the first
year that more Americans planned
to shop on Cyber Monday (across all
channels) than on Black Friday. According to the CTA, tech was the
second most frequently purchased type
of gift (56 percent), closely following
clothing and accessories (63 percent),
while surpassing toys ( 43 percent). The
top five tech products shoppers planned
to buy are videogame consoles, smartphones, TVs, laptops, and tablets.
CONSUMER ELECTRONICS MARKETPLACE
BY BRIDGET McCREA
On track to reach $2.9 trillion by 2020, the global consumer electronics market is flourishing right along with the technological advancements that support it. In fact, according to Persistence Market Research, the growth prospects for the market are downright “staggering,” thanks mainly to brisk sales of smartphones, wearables, and
smart home devices.