The modern emerging trends in Electronic Consumer Appliances have witnessed phenomenal growth across the globe facing the tough economic conditions. Till now, China and U.S are the fastest growing market for the consumer electronics and appliances whereas Indian Consumer Electronics segment is in a transitional phase, establishing productive units to meet Indian as well as global consumer electronics market. The remarkable growth in consumer electronics appliances could be associated to the revolutionary technological advancements.
In today’s society, people are crazy to get different types of appliances in their home. These electronic appliances provide fastest service with easy operation; hence consumers are always in need of one or the other appliances coming up in the market. The electronic consumer markets are in boom from the growing interaction of digital applications such as digital camera, camcorders, DVD player, recorder, washing machine, refrigerator, computers, and other home appliances.
With these technological advancement, the consumer electronics industry across the globe earned revenue of around 694 Billion US dollars in the year 2008. On the other hand, India’s consumer electronics industry in domestic market was accounted to be worth around 26.6 billion US dollars in the same year which is likely to increase to 44.7 billion US dollars by the year 2013.
Some of the latest technological Electronic Consumer Appliances with miniaturization includes 3D TVs, HD flat panel product lines and blue ray drives. Moreover, the demand to MP3 and other digital video appliances are anticipated to surge a double digital rate in the near future. With the rising interests of consumers for electronic appliances has contributed to rapid growth in the market globally. The trend is still on the rise as the numbers of manufacturers from various parts of the world are increasing day by day.
Recent surveys reports “Global Consumer Electronics Market Forecast to 2013, predicting the global consumer electronics will likely to grow at a CAGR of around 5 per cent during the year between 2010 and 2013. Consumer electronics manufacturers are constantly researching on bringing add on features and improve quality of electronic devices at affordable prices.