Consumer Electronics Industry, Market Size, Trends & Top Companies (2024)

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 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.

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:

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).

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:

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):

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.

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:

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):

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.

Related: Airpods sales and revenue and number of iPhone users.

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:

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:

• VoIP (Voice over Internet Protocol) Market, Industry ,Users
• Technology Addiction Statistics
• Bose revenue, market share

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?

Matija Ferjan

Matija Ferjan is a seasoned audio enthusiast reviewing headphones since 2015. He has personally tested hundreds of headphones and earbuds. He’s an active member of the Headphone Audio community and a true nitpicker, always looking for the “best-value-for-money” headphones.