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E-Commerce Electronics Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global e-commerce electronics products market was valued at USD 754.4 billion in 2022 and is expected to expand at a CAGR of 16.2% from 2023 to 2030. The surging demand for e-commerce electronics products is being driven by the increasing adoption of digital technologies and the rising penetration of the internet. The convenience of online shopping has led to a significant shift from traditional shopping to online shopping. This, in turn, has resulted in the growth of the global e-commerce electronics products market.
The increasing availability of customized solutions and cheaper pricing of products are some of the major factors contributing to the growth of the market. Furthermore, the availability of a wide range of products and the ability to compare prices of products on different websites have fueled the adoption of e-commerce electronics products. In line with this, the increasing popularity of social media platforms is also providing a major boost to the market. The availability of several offers and discounts on these platforms has further helped to boost the demand for e-commerce electronics products.
The rising demand for smart home solutions is also driving the growth of the market. The growing popularity of connected devices is providing a major boost to the market. Furthermore, the increasing adoption of smart home solutions by customers is driving the demand for e-commerce electronics products. Additionally, the increasing demand for smart home appliances such as vacuum cleaners, air conditioners, and washing machines, is also driving the demand for e-commerce electronics products.
E-commerce electronics companies are also focusing on launching new products and offering better customer service to stay ahead in the competition. For instance, in August 2021, Samsung introduced its latest QLED 8K TV Range in India. The range is available in different screen sizes, ranging from 43 inches to 98 inches. The range is equipped with features such as Object Tracking Sound+, Active Voice Amplifier, and Adaptive Sound to provide an immersive viewing experience to customers.
Furthermore, the increasing focus of companies on providing a seamless and personalized shopping experience to customers is also driving the growth of the market. Companies are investing heavily in technology-driven solutions such as artificial intelligence (AI), machine learning (ML), and virtual reality (VR) to enhance the shopping experience of customers. In line with this, in December 2021, LG launched its first AI-powered OLED TV with ThinQ AI technology. The TV is equipped with a built-in Google Assistant for voice-enabled commands, allowing customers to control their TV without the need for a remote.
Product Insights
The consumer electronics segment is expected to hold the largest market share in 2022. According to an article published by Statista, in June 2020, the global consumer electronics segment generated revenue of US$ 740.3 billion in 2019 and is expected to grow at a CAGR of 5.3%. This growth is mainly attributed to the rising trend of online shopping, as well as the increasing availability of consumer electronics products through e-commerce platforms. Furthermore, the increasing use of advanced technologies such as artificial intelligence (AI) and the Internet of Things (IoT) to improve the quality and features of the products is also driving the market growth.
The home appliances segment is anticipated to register the fastest CAGR of 8.7% over the forecast period. Growing disposable income coupled with the rising demand for automated home appliances to simplify household chores is driving the growth of the segment. Moreover, the increasing penetration of the internet and the growing trend of online shopping are also boosting the market growth of the segment. According to an article published by Statista, in June 2020, the global home appliance market generated revenue of US$ 807.2 billion in 2019.
Distribution Channel Insights
The online segment is anticipated to capture the major share of over 54.2% in 2022. The growth of the segment is mainly driven by the increased adoption of e-commerce websites and apps by consumers to purchase electronic products. According to a survey by Statista in 2020, the majority of electronics buyers prefer to purchase products online due to convenience and availability of a wide variety of products. Additionally, the availability of discounts and offers on e-commerce websites further encourages consumers to make purchases online.
The supermarkets & hypermarkets segment is expected to expand at a CAGR of 10.2% during the forecast period. Supermarkets & hypermarkets provide customers with a physical experience to touch and feel the products before making a purchase. Moreover, these establishments offer discounts and offers on products, which further encourages customers to purchase products from these stores. Companies operating in the e-commerce electronics products market are emphasizing on expanding their network of supermarkets & hypermarkets to increase their brand presence.
Type Insights
The consumer electronics segment accounted for the largest revenue share of 57.3% in the year 2022. The growing demand for consumer electronics can be attributed to the increasing disposable income and rapid urbanization in the developing countries. The growing trend of online shopping and the availability of digital payment options have made it easier for consumers to purchase these products. Additionally, the increasing promotional campaigns by online retail giants such as Amazon and Flipkart have increased the demand for consumer electronics products.
The industrial electronics segment is anticipated to expand at the highest CAGR of 10.2% over the forecast period. The increasing adoption of industrial automation and the growing need for efficient and cost-saving solutions are key factors driving the demand for industrial electronics. Furthermore, the growing demand for industrial automation in the automotive industry is also expected to boost the segment. For instance, in January 2021, ABB Group launched a new range of industrial robots to help manufacturers increase their production.
Regional Insights
Asia Pacific is expected to hold a significant share in the e-commerce electronics products market over the forecast period. The presence of numerous e-commerce websites and digital payment solutions are some of the key factors driving market growth in the region. For instance, Flipkart, a leading e-commerce platform in India, launched the digital wallet Flipkart Money to enable customers to easily make payments while shopping on the platform.
North America is estimated to be the second-largest market in terms of revenue and is expected to witness a significant growth rate over the forecast period. The presence of prominent players such as Amazon, eBay, and Walmart, and the increasing demand for advanced technology-enabled products are some of the key factors driving market growth in this region. For instance, in June 2021, Amazon launched the Echo Show 10, a voice-enabled smart display with a rotating screen, in the U.S.
Financial Projections
In this part of the e-commerce electronics product business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your e-commerce business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an e-commerce electronics business comes from the sale of electronic products and services. Here you will find a list with a description of each of them and other possible sources of profit such as advertising, affiliate marketing, and consulting services.
Projecting Expenses
In this section, all the regular expenses related to keeping the e-commerce electronics business running will be described. The list of operating expenses includes web hosting, credit card processing fees, inventory costs, wages, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the e-commerce electronics market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Amazon launched the Alexa-enabled Echo Show 10, a new device featuring a 10-inch HD display and a rotating camera.
– In August 2022, Apple Inc. launched the Apple AirTags, a new product designed to track items through the “Find My” app.
– In October 2022, Samsung Electronics Co. Ltd. launched the Galaxy Tab S7, a tablet with a 12.4-inch super AMOLED display.
Some of the prominent players in the e-commerce electronics market include:
– Amazon
– Apple Inc.
– Samsung Electronics Co. Ltd.
– Sony Corporation
– LG Electronics Inc.
– Microsoft Corporation
– Hewlett-Packard Company
– Huawei Technologies Co. Ltd.
– Panasonic Corporation
– Toshiba Corporation
Global E-Commerce Electronics Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global e-commerce electronics products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Smartphones
– Wearable Technology
– Home Appliances
– Gaming Consoles
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Luxury Electronics
– Low-End Electronics
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Most Popular Electronics Products Purchased Online?
[A]: The most popular electronics products purchased online in recent years include laptops and desktops, smartphones, tablets, digital cameras, and smart home devices.
[Q]: What are the Key Players in the E-Commerce Electronics Market?
[A]: Key players in the e-commerce electronics market include Amazon, Apple, Best Buy, Walmart, and Alibaba Group.
[Q]: What Factors are Driving Growth in the E-Commerce Electronics Market?
[A]: Factors driving growth in the e-commerce electronics market include the growing popularity of online shopping, the increasing number of price-conscious shoppers, and the availability of more payment options.
[Q]: What are the Benefits of Shopping for Electronics Online?
[A]: The benefits of shopping for electronics online include convenience, easy comparison shopping, the ability to read reviews from other customers, and access to a wider variety of products.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is a key factor in driving market growth. Manufacturers are innovating their products by introducing new features and functionalities, as well as improved designs, to remain competitive. Additionally, manufacturers are also focusing on marketing campaigns, such as influencer marketing, to create greater brand awareness.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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