Market outlook of the consumer electronics market in China
Consumer electronics include all electronic devices that are intended for daily use and includes devices like smartphones, tablets, PCs, gaming consoles, TVs and cameras. Technavios market research analyst has estimated factors like the augmented sale of smartphones and gaming consoles in this region to bolster market growth during the forecast period, resulting in its healthy CAGR of around 10% by 2019.
Upliftment of the ban on gaming consoles is the key driver for the growth of this market. Upliftment of the ban in 2014 has allowed foreign enterprises to manufacture consoles in Shanghai's free economic zone. Since China has the worlds third largest video games market, companies like Sony and Microsoft are adopting aggressive marketing strategies to capture this market during the next four years.
Product-based segmentation of the consumer electronics market in China
Gaming consoles Cameras Tablets TV PC Smartphones In this market research report, analysts have estimated the smartphones segment to account for more than 71% of the total market share by 2019. The government of Chinas recent decision to issue 4G license to major telecom providers like China mobile, China telecom and China Unicom is expected to foster growth in this segment during the forecast period.
Competitive landscape and key vendors
This market is highly competitive and fragmented due to the presence of numerous large and small vendors. Competition among these vendors is expected to intensify during the forecast period as recent technological innovations will result in the rapid advancement of the consumer electronics market.
Key vendors analyzed in this market are -
Apple Lenovo Samsung Xiaomi Microsoft Canon Other prominent vendors are Gionee, HTC, Oneplus, Sony, ZTE, Amazon, Blackberry, Google, Microsoft, Motorola Mobility, Fujitsu, Haier, Hisense, Samsung, Toshiba, Faro Technologies, Fujifilm Corp, Go pro, Intel Corporation, and Kodak.
Growth drivers, challenges, and upcoming trends: Consumer electronics
Technavio market research analysts have estimated upcoming trends, such as the augmented popularity of E-commerce portals, to spur market growth during the forecast period. The advent of E-commerce portals is expected to have a positive impact on consumers as it gives them a platform to compare the prices of smartphones or tablets. These portals also aid in comparing the specifications of electronic devices and allow consumers to buy and sell their electronic devices online.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the consumer electronics market in China. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019 What are the key factors driving the consumer electronics market in China What are the key market trends impacting the growth of the consumer electronics market in China What are the challenges to market growth Who are the key vendors in the consumer electronics market in China What are the market opportunities and threats faced by the vendors in the consumer electronics market in China What are the key outcomes of the five forces analysis of the consumer electronics market in China Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Consumer Electronics Market in China 2015-2019
Technavio recognizes the following companies as the key players in the Consumer Electronics Market in China: Apple, Lenovo, Samsung, Xiaomi, Microsoft and Canon
Other Prominent Vendors in the market are: Gionee, HTC, Oneplus, Sony, ZTE, Amazon, Blackberry, Google, Microsoft, Motorola Mobility, Fujitsu, Haier, Hisense, Samsung, Toshiba, Faro Technologies, Fujifilm Corp, Go pro, Intel Corporation, and Kodak.
Commenting on the report, an analyst from Technavio’s team said: “The emergence of e-commerce portals has a positive impact on consumers as it gives a platform to compare the smartphone or tablet prices and then make the best choice. Apart from the prices, they can also compare a smartphone's specification and then choose accordingly. These portals also allow consumers to buy and sell their smartphones and tablets online, so this way they can reach more people, as compared to a brick-and-mortar store.”
According to the report, the increase in disposable income means a boost in consumer buying power. A higher disposable income also increases the probability of consumer spending on entertainment and leisure activities. A man/woman first looks at essential needs, when they are fulfilled he/she then looks for fulfillment of other amenities.
Further, the report states that because of the high competition, most of the vendors in the consumer electronics market strive to attain high profit margins by reducing the total cost incurred.