What is the Market Size of Consumer Electronics in US?

The global consumer electronics market, valued at USD 724,968.9 million in 2022, is projected to reach USD 1,255,694.4 million by 2033, growing at a CAGR of 5.2% from 2024 to 2033. This market encompasses a wide range of devices including TVs, smartphones, tablets, and smart home appliances, which are integral to modern life due to their role in enhancing convenience and connectivity. The surge in demand is driven by technological advancements, increased consumer spending, and a growing preference for innovative and smart devices. North America led the market with a 31.9% share in 2022, and Europe followed with a 16.8% share. The wearable device segment dominated with a 76.2% market share, while smartphones accounted for 13.4% of the market.