A Look At The Consumer Electronics Industry And Recent Trends

The global consumer electronics industry has grown at a fast pace in the past few years and the annual growth rate in the current year 2013 is slated to remain strong and steady. While young buyers (with their fascination for latest technologies) seem to be the most avid purchasers as far as Consumer Electronics are concerned, the old buyers are not much far behind in this respect. A recent survey conducted by a prominent market research firm indicates that consumers in urban markets are already spending a large portion of their income on acquiring the latest Electronics devices. China is a good example of one such urban market which has witnessed a growth in ownership of newest Consumer Electronic Devices among consumers.

Recent Trends In The Consumer Electronics Industry

Customer Loyalty Is Non-Existent – As far as Consumer Electronics are concerned, urban consumers are rarely loyal to anyone. This is especially true when we speak of the operating systems used in the Electronic devices. Rather than sticking to one brand, experimenting seems to be the mantra of the day.

Sales of Multi-Function Devices Touching An All Time High – With the introduction and growing acceptance of Multi-Function Devices, the single-function devices are dying a slow death. An apt example in this regard would be the growing popularity of smart phones and tablets which is slowly taking over the market for single function devices like DVD Players, EBook Readers, etc.

Cloud Based Services And Apps Rule The Roost – As far as consumer preference is concerned, there is no doubt about the fact that both – Cloud Based Services And Apps – have witnessed an increase in use. Not only young consumers but the older ones are also turning to online services at an increasing rate.

Consumer Electronics Have Invaded The Workplace Also – There has been an increased use of multi-function devices in the work place too. This has resulted in an increase in productivity among office-goers, as more and more Consumer Electronic Devices are being adopted at offices.

With the Global Consumer Electronics Industry witnessing a world-wide growth, manufacturers and suppliers of Consumer Electronic Devices have a golden opportunity to make the most of this scenario, & emerge as an industry leader.

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