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Consumer Electronics Industry, Market Size, Trends & Top Companies (2022)

Last updated: 2 weeks ago
4 min read

The consumer electronics industry market size is estimated at $716.3 billion in 2022.

Here are the latest data on the consumer electronics industry, market, growth, and trends.

Plus, find out the largest consumer electronics companies and brands according to market capitalization and revenue below.

Consumer electronics industry products

Consumer electronics industry market size & revenue

Consumer electronics industry growth

Consumer electronics sales

Consumer electronics market share

Top 10 consumer electronics companies

Consumer Electronics Top Statistics & Trends

  • Consumer electronics industry revenue for 2022 is estimated at $716.3 billion. Read more.
  • From 2017 to 2022, the consumer electronics industry is expected to grow 43%, equal to an average of 7.42% CAGR. Read more.
  • Electronics stores sales in the US in 2020 were $57.776 billion. Read more.
  • Smartphones are the biggest sector among consumer electronics in the US, with almost a third (32.3%) of the revenue share in 2021. Read more.
  • Apple, NVIDIA, and Samsung are the 3 largest consumer electronics companies by market value. Read more.

Consumer electronics industry (market size & revenue)

What is consumer electronics market size and revenue?

Consumer electronics industry revenue for 2022 is estimated at $716.3 billion.

Consumer electronics industry market size

That’s a growth of 3.7% from the previous year. The global consumer electronics market is steadily growing with an occasional short-term hiccup. See the growth data below.

First, here’s a breakdown of consumer electronics industry revenue per year according to Statista:

YearAnnual
industry revenue
2025$881.7 billion
2024$810.6 billion
2023$769.8 billion
2022$716.3 billion
2021$690.5 billion
2020$626.5 billion
2019$519.3 billion
2018$505.5 billion
2017$500.9 billion
Source: Statista 1 (includes estimates)

What is the consumer electronics market?

The consumer electronics market is a fast-growing industry that keeps releasing new, innovative products for the consumer. Some of the latest consumer electronics trends include smart watches, true wireless headphones, noise-cancelling headphones, drones, virtual reality headsets, and fitness trackers. It’s constantly looking for new electronics that make our lives easier and better, creating new product categories.

Consumer electronics industry growth

How fast is the consumer electronics industry growing?

From 2017 to 2022, the consumer electronics industry is expected to grow 43%, equal to an average of 7.42% CAGR (compound annual growth rate).

Consumer electronics industry growth

Global spending on consumer electronics is growing, and there are no signs of slowing down. The data includes future estimates from Statista.

Here’s the breakdown of consumer electronics market growth per year:

YearAnnual
industry growth
20258.8%
20245.3%
20237.5%
20223.7%
202110.2%
202020.6%
20192.7%
20180.9%
Source: Statista 1 (includes estimates)

Consumer electronics sales

What are US consumer electronics sales?

Electronics stores sales in the US in 2020 were $57.776 billion according to the United States Census Bureau.

Data for 2021 from the United States Census Bureau isn’t available yet.

How are sales different from revenue?

Sales are the proceeds a company generates by selling its product. Revenue includes sales and other sources of income. Revenue is higher if it includes secondary income sources or lower than sales if the company is giving discounts and factoring in returns.

Here’s a table of US electronics stores sales from 2000 to 2020 (US Census Bureau):

YearUS electronics salesGrowth
2020$57.776 billion-21,93%
2019$74.009 billion-4,09%
2018$77.167 billion2,05%
2017$75.618 billion-1,07%
2016$76.436 billion-7,78%
2015$82.881 billion-3,22%
2014$85.642 billion-0,78%
2013$86.317 billion-1,31%
2012$87.467 billion1,50%
2011$86.171 billion2,42%
2010$84.133 billion1,84%
2009$82.610 billion-9,61%
2008$91.396 billion-1,24%
2007$92.542 billion0,21%
2006$92.346 billion3,38%
2005$89.330 billion5,83%
2004$84.405 billion7,68%
2003$78.386 billion1,80%
2002$77.003 billion2,65%
2001$75.014 billion-3,57%
2000$77.792 billion/
Source: United States Census Bureau

Consumer electronics market share

What are the biggest sectors in the consumer electronics industry?

Smartphones are the biggest sector among consumer electronics in the US, with almost a third (32.3%) of the revenue share in 2021.

Consumer electronics market share per segment

From the US revenue data per segment, smartphones represent the largest market share in the consumer electronics market. It’s followed by gaming software and video streaming services.

Here’s a table with consumer electronics US market share per segment:

YearSmartphoneGamingLaptop/PCVideoMusicEarbuds
202239.7%28.5%/25%6.8%/
202132.3%21.9%17.7%19.1%4.7%4.3%
202038.7%21.5%16.7%14.5%4.3%4.3%
201942.8%20.4%18.4%10.4%4.5%3.5%
201847.5%21%18.6%8.5%3.6%0.8%
Source: Statista 2 (2022 data are an estimate)

Video: represents video streaming services. Music: on-demand music services. Earbuds: wireless earbuds.

The smartphones segment is slowly losing consumer electronics market share as new products are gaining it. Most notably; video streaming, on-demand music and wireless earbuds are gaining market share.

Top consumer electronics companies

Apple, NVIDIA, and Samsung are the 3 largest consumer electronics companies by market value.

Here are the 10 largest consumer electronics companies by market value (market capitalization on October 2022):

RankCompanyMarket capCountryPopular products
#1Apple$2.3 TUSAiPhone, iPad, Airpods
#2NVIDIA$292.1 BUSAGraphics cards, CPUs
#3Samsung266.5 BS. KoreaPhones, TVs, monitors, earbuds
#4Cisco$170.8 BUSARouters
#5AMD$92.4 BUSAGraphics cards, CPUs
#6Sony$82.4 BJapanPhones, TVs, monitors, headphones
#7Nintendo$47.9 BJapanGames & gaming consoles
#8Foxconn$44.8 BTaiwanPhones, TVs, monitors, headphones
#9Hikvision$40.6 BChinaIoT, cameras
#10Xiaomi$28.1 BChinaPhones, TVs, earbuds, speakers
Source: Companies market cap

Market cap is usually used to determine how much a company is worth at any given time. These companies can be considered consumer electronics industry leaders.

Apple corporation is by far the biggest consumer electronics company. Its massively popular products like the iPhone, iPad, Apple Watch, and AirPods make it a dominant force among the consumer electronics brands.

Apple is the largest consumer electronics company by market cap and revenue

Related: Airpods sales and revenue

Another way to determine the largest consumer electronics companies is by annual revenue. The rankings of the top 10 are slightly reordered.

Here are the 10 top consumer electronics companies by annual revenue:

RankCompanyRevenue in USD
#1Apple$365.8 B
#2Samsung$244.4 B
#3Foxconn$104 B
#4Dell$94.2 B
#5Sony$88 B
#6Hikvision$81.4 B
#7LG Electronics$67 B
#8HP$63.5B
#9Panasonic$62.9 B
#10Xiaomi$50.8 B
Source: Yahoo finance data, 2021 annual revenue

If we look at revenue numbers, NVIDIA, Cisco, Nintendo and AMD drop from the list. New companies added are Dell, LG Electronics, Panasonic, and HP.

The rankings change with market changes though Apple is expected to be at the top for a long time.

Read more:

Conclusion

These were the consumer electronics industry trends and market data for the last couple of years.

Do you think the segment will continue to grow at the same pace for the next decade?

The odds are new popular consumer electronics categories will emerge and prop up the sector. Can you guess which?

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