Electricals and Electronics Retailer Market was valued at USD 1,200 Billion in 2022 and is projected to reach USD 1,800 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The electricals and electronics retailer market has witnessed considerable changes from 2018 to 2022, driven by evolving consumer preferences, technological advancements, and global supply chain disruptions. Between 2018 and 2022, retailers in the electricals and electronics sector experienced fluctuations in demand, shaped by consumer demand for innovative tech products, rising disposable incomes, and increased online shopping trends. The market saw significant shifts, with demand for home appliances, smartphones, and personal electronics steadily increasing. However, 2020 marked a disruptive period due to the COVID-19 pandemic, forcing retailers to adapt rapidly to new buying behaviors, including a surge in e-commerce and changes in in-store shopping.
By 2022, electrical and electronics retailers had adjusted to the new normal, implementing strategies to cater to online shoppers, improving inventory management, and offering personalized services. While growth in demand continued, retailers faced challenges related to supply chain issues, rising shipping costs, and inflationary pressures. During this period, major retailers focused on expanding their digital presence, adopting augmented reality (AR) and virtual reality (VR) tools to enhance the shopping experience, and integrating AI-driven customer support systems.
Looking forward to the period from 2023 to 2033, the demand in the electricals and electronics retailer market is expected to grow at a faster pace. As emerging technologies, including 5G, Internet of Things (IoT), and artificial intelligence continue to revolutionize the sector, demand for smart home devices, wearable technology, and energy-efficient electronics will skyrocket. Retailers are expected to focus on offering more sustainable product options, incorporating eco-friendly designs, and improving energy efficiency. Additionally, the continued rise of e-commerce, coupled with enhanced logistics networks and AI-driven shopping experiences, will further transform the market landscape.
Retailers will also need to adapt to changing consumer behavior, with younger generations preferring seamless shopping experiences across various channels, combining in-store visits with online options. As the market moves into the next decade, it's crucial for retailers to embrace digital transformation and stay ahead of emerging trends to maintain a competitive edge.
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BestBuy
Suning
Currys
Ceconomy
GOME
Yodobashi Camera
Ddion
Samsung (HARMAN)
Amazon
Apple
Dell
LG
Media Markt
Saturn
Jingdong
Sony
Bose
Bang & Olufsen
Hewlett-Packard
Hhgregg
Bic Camera
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electricals and Electronics Retailer Market
Household Appliances
Consumer Electronics
Based on Types the Market is categorized into Below types that held the largest Electricals and Electronics Retailer market share In 2023.
Online Retail
Offline Retail
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electricals and Electronics Retailer Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electricals and Electronics Retailer Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electricals and Electronics Retailer Market, By Type
6. Global Electricals and Electronics Retailer Market, By Application
7. Global Electricals and Electronics Retailer Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electricals and Electronics Retailer Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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