New Consumer Electronics Data: Key Facts

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• Increased digitalisation will boost sales of connected electronics as retail volume sales is projected to hit 2.4 billion units in 2022.
• Emerging markets are the new frontier for consumer electronics as the number of middle class households is set to increase exponentially over the forecast period.
• Asia Pacific (driven by India, China and Indonesia) will account for more than 50% of the global portable consumer electronics market.
• Smartphones will remain the most popular connected device, accounting for 57% of total consumer electronics volume sales in 2022.
• Wireless speakers are emerging as a conduit of digital purchases with Amazon leading the smart speakers’ space with 10 million units sold in 2017.
• 10 out of the top 15 fastest growing consumer electronics companies are Chinese owned.
• With a GDP of USD964 billion (34% higher than Saudi Arabia) and 146 million internet subscribers in 2022, Nigeria is a key growth market to look out for.
• Older electronics categories like laptops are reinventing themselves in the premium category with convertibles laptops making up more than one third of total retail volume sales in 2022.
• Internet retailing will account for more than one quarter of total retail volume sales of consumer electronics in 2017.
• Consumers 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% CAGR in value terms.