Reportlinker.com announces the release of the report “Global Consumer Electronics Industry COVID-19 Impact Assessment”
Factors such as high consumer demand for electronics which leads to more spending in the sector, emerging market economies are proved to be the significant drivers for electronics sector growth. The growth in the electronic sector is also accompanied by rising competition in the market, as with the increase in competition, electronic products are available at affordable prices to the consumers.
In terms of market share, Asia-Pacific region holds a major share of 37.4% of the global consumer electronics retail market followed by North America and Europe with 26.71% and 22.60% respectively. The total revenues of global consumer electronics retail market grew with a CAGR of 3.59% during 2016-2020 to USD 1,132 billion in 2020, while the consumer electronics retail market of Asia-Pacific grew with CAGR of 2.7% to USD 423.37 billion.
The report titled “Global Consumer Electronics Industry COVID-19 Impact Assessment ” helps the reader to gain insights on pre-COVID-19 and Post COVID-19 market scenario with the help of market trends and opportunities. A detailed study has been carried out to explore regional markets including North America, APAC and Europe. COVID-19 assessment has been carried out to assess the impact of the virus outbreak over the industry performance. Globe Newswire