The US consumer electronics market is tipped to shrink by about 0.5 per cent to $160 billion this year according to data from Statista.
But the world’s second-largest market for consumer electronics is better placed than the largest – China – where sales are expected to fall by 5 per cent to US$218.6 billion.
Declines are also expected in Japan and Brazil – falling by 1.2 per cent and 0.6 per cent respectively.
Statista’s survey shows that the global consumer electronics market will decline by 0.5 per cent to $5.3 billion this year.
China, the world’s leader in consumer electronics sales, is forecast to generate roughly one-fifth of global category revenue this year and see the biggest drop.
Meanwhile, India will go against the trend, with sales projected to grow 5 per cent to $73.1 billion.
By segment, most of the decline will come from smartphone sales, expected to drop by $11.6 billion to $486.7 billion this year. Sales of computing devices, namely desktop PCs, laptops, tablets, keyboards, and monitors, will be around $500 million lower than last year.
All other segments, including TVs, radios, multimedia devices (cameras, headphones, and speakers), and gaming equipment, are projected to improve this year.
