Consumer electronics sales will grow by 4.4 percent in the next five years, reaching 699.8 billion dollars by 2022. Emerging markets such as China and India will lead this growth, driven by a fast-growing middle class and their growing income, according to Euromonitor International which released yesterday new data on the global consumer electronics industry.<\/p>\n
\u201cAs businesses move towards digitalisation, this will further boost sales of connected devices over the forecast period. Blending of online and offline shopping experiences such as unmanned retail stores, use of augmented reality and virtual reality to engage with brands and a shift towards a cashless shopping experience through mobile devices will only seek to further cement the central role of smartphones in the Internet of Things and expand its use case with today\u2019s digital consumers,\u201d says Head of Consumer Electronics at Euromonitor International, Wee Teck Loo.<\/p>\n
While smartphones represent 57 percent of total electronics volume sales, activity watches and wireless speakers will be the fastest growing products.\u00a0<\/p>\n
\u201cConsumers will be buying activity wearables as a fashion statement, rather than to just track the number of steps walked or calories burned. Sales of activity watches (analogue) are poised to be particularly fast, at 20 percent Compound Annual Growth Rate (CAGR) in value terms,\u201d adds Loo.<\/p>\n
The top ten wearable electronics markets in 2017 are:<\/p>\n
1. USA: US$ 8.3 billion<\/p>\n
2. China: US$ 4.2 billion<\/p>\n
3. United Kingdom: US$ 818 million<\/p>\n
4. Germany: US$ 700 million<\/p>\n
5. Japan: US$ 597 million<\/p>\n
6. Australia: US$ 423 million<\/p>\n
7. Canada: US$ 349 million<\/p>\n
8. France: US$ 333 million<\/p>\n
9. South Korea: US$ 278 million<\/p>\n
10. Spain: US$ 225 million<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Consumer electronics sales will grow by 4.4 percent in the next five years, reaching 699.8 billion dollars by 2022. Emerging markets such as China and India will lead this growth, driven by a fast-growing middle class and their growing income, according to Euromonitor International which released yesterday new data on the global consumer electronics industry. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-947","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=947"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/947\/revisions"}],"predecessor-version":[{"id":5321,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/947\/revisions\/5321"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}