The electronic product retailing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electronic Product Retailing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electronic product retailing market size has grown strongly in recent years. It will grow from $1,454.32 billion in 2023 to $1,535.51 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increased internet penetration, growing demand of consumer electronics, rising disposable incomes, increasing consumer demand for technology and gadgets, and growth of e-commerce platforms.
The electronic product retailing market size is expected to see strong growth in the next few years. It will grow to $1,932.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising demand for personalized shopping experiences, growing prevalence of mobile commerce, growing awareness of cybersecurity, increasing demand for luxury and high-end electronic products, and growing popularity of entertainment and gaming. Major trends in the forecast period include technological advancements, subscription-based electronics services, IoT devices, adoption of buy now, pay later options, and smart packaging solutions.
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Scope Of Electronic Product Retailing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electronic Product Retailing Market Overview
Market Drivers –
The increasing internet penetration is expected to propel the growth of the electronic product retailing market going forward. Internet penetration refers to the percentage of residences or individuals in a country that have access to the Internet, serving as a measure of the extent to which a population is connected to the Internet. The increasing internet penetration is due to the lower cost of internet access, enabling new access devices, increasing productive use, and connecting new types of devices. Internet penetration has revolutionized electronic product retailing by expanding market reach, improving customer engagement, and enhancing operational efficiency. Retailers who leverage these advantages can better meet customer needs, optimize their operations, and stay competitive in the evolving digital marketplace. For instance, in February 2024, according to the International Telecommunication Union, a Switzerland-based specialized agency, the number of people utilizing the Internet rose from 5.1 billion in 2022 to 5.4 billion in 2023. Therefore, the increasing internet penetration is driving the growth of the electronic product retailing market.
Market Trends –
Major companies operating in the electronic product retailing market are focused on developing innovative technologies, such as retail intelligence solutions, to enhance operational efficiency and customer experience. Retail intelligence solutions refer to technologies and tools that enable retailers to gather, analyze, and leverage data to make informed business decisions and optimize operations. For instance, in October 2023, Flipkart Private Limited, an India-based e-commerce company, launched Flipkart Commerce Cloud, which provides retail intelligence solutions for retailers and e-commerce businesses. This innovative platform integrates powerful data analytics capabilities to offer in-depth insights into consumer behavior, market trends, and inventory dynamics. It provides customizable solutions adaptable to diverse business needs, enhancing operational efficiency and scalability. AI-driven predictive analytics enable proactive decision-making and personalized customer engagement strategies, fostering loyalty and maximizing sales opportunities.
The electronic product retailing market covered in this report is segmented –
1) By Type: Business-to-Business Retailing, Business-to-Consumer Retailing
2) By Product Type: Audio Equipment, Consumer Electronics, Gaming And Entertainment, Home Appliances, Office Electronics, Personal Care Electronics, Photography And Videography Equipment
3) By Distribution Channel: Offline, Online
4) By Application: Commercial, Residential
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Regional Insights –
North America was the largest region in the electronic product retailing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic product retailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electronic product retailing market are Walmart Inc., Amazon.com Inc., Apple Inc., Costco Wholesale Corporation, Microsoft Corporation, Samsung Electronics Co. Ltd., JD.com Inc., Alibaba Group Holding Limited, Dell Technologies Inc., Nestlé S.A., Sony Corporation, Panasonic Corporation, Best Buy Co. Inc., Suning.com Co. Ltd., MediaMarktSaturn Retail Group, Otto Group, Magazine Luiza S.A., JB Hi-Fi Limited, Bic Camera Inc., Vipshop Holdings Limited, Bose Corporation, Sennheiser electronic SE & Co. KG, Smeg UK Ltd.
Table of Contents
1. Executive Summary
2. Electronic Product Retailing Market Report Structure
3. Electronic Product Retailing Market Trends And Strategies
4. Electronic Product Retailing Market – Macro Economic Scenario
5. Global Electronic Product Retailing Market Size and Growth
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32. Global Electronic Product Retailing Market Competitive Benchmarking
33. Global Electronic Product Retailing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electronic Product Retailing Market
35. Electronic Product Retailing Market Future Outlook and Potential Analysis
36. Appendix
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