The Business Research Company’s Consumer Electronics E-Commerce Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, June 21, 2021 /EINPresswire.com/ — Consumers are shifting from offline to online shopping, and this factor is the key driving factor of consumer electronics e-commerce market. Globally, nearly 53% of the global population (more than 4 billion people) is connected to the internet, and nearly all of them (92.6%) go online using their mobile devices. Internet connectivity has presented an opportunity of hassle-free shopping – anytime, anywhere. The internet accessibility, mobile technology and digital innovations are changing consumer's shopping experiences. With the building customers' trust in buying high-value products including electronics on the Internet, the number of online shoppers is skyrocketing. Therefore, with the increased penetration of online shopping in consumers’ lives, the value of electronics e-commerce market is expected to only rise but not slowdown.
The consumer electronics market consists of sales of electronic goods that include video products such as television, navigation products, digital cameras and accessories, digital camcorders and accessories, e-Readers, DVD and Blu-ray players, audio products such as MP3 players and accessories, home theatre audio systems and components, musical instruments and mobile electronics, and others. The market consists of revenues generated by the establishments by the sales of these video and audio electronics. Ecommerce refers to businesses, companies, and individuals selling goods or services electronically.
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The global consumer electronics e-commerce market is expected to grow from $310.23 billion in 2020 to $343.34 billion in 2021 at a compound annual growth rate (CAGR) of 10.7%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The consumer electronics market is expected to reach $511.06 billion in 2025 at a CAGR of 10%.
Major players in the consumer electronics retail industry are Alibaba, Amazon, JD.com, eBay, Shopify, Rakuten, Walmart, Newegg, Target, and Flipkart.
TBRC’s consumer electronics e-commerce market research report is segmented by product into video products, audio products, others; by business model into business to business (B2B), business to consumer (B2C); by pricing model into low cost products, medium cost products, high end products.
Consumer Electronics E-Commerce Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides consumer electronics e-commerce market overview, forecast consumer electronics e-commerce market size and growth for the whole market, consumer electronics e-commerce market segments, and geographies, consumer electronics ecommerce market trends, consumer electronics ecommerce market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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