Consumer Electronics - Europe

  • Europe
  • The revenue in the Consumer Electronics market in Europe amounts to €196.4bn in 2024.
  • It is projected to grow annually by 2.67% (CAGR 2024-2028).
  • The largest segment in this market is Telephony, with a market volume of €76.3bn in 2024.
  • In global comparison, the highest revenue is generated in China, with €202.8bn in 2024.
  • When considering the total population figures, per person revenues of €232.80 are generated in Europe in 2024.
  • By 2024, online sales are expected to contribute 32.5% of the total revenue in the Consumer Electronics market in Europe.
  • The volume in the Consumer Electronics market is projected to reach 1,502.0m pieces by 2028.
  • Furthermore, the Consumer Electronics market is expected to show a volume growth of 0.8% in 2025.
  • On average, each person in Europe is projected to have a volume of 1.6pieces in the Consumer Electronics market in 2024.
  • In Germany, the consumer electronics market is dominated by high-quality, German-made products known for their reliability and durability.

Key regions: United States, Worldwide, India, Europe, Germany

 
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Analyst Opinion

In 2022, the Consumer Electronics market faced a minor contraction primarily due to the market saturation of smartphones and a rebound in the demand for computing devices compared to the previous year. This dip in the market was also attributed to the economic slowdown, surging inflation rates, and increased energy prices, which contributed to decreased consumer spending on home entertainment equipment. Overall, the Consumer Electronics market generated a total revenue of US$987 billion in 2022, representing a 4.4% decline from the previous year.

The Consumer Electronics market is dominated by established and well-known companies, including Apple, Samsung, Huawei, and Sony. These companies hold a dominant position in various product categories such as smartphones, televisions, home appliances, and gaming consoles. Nevertheless, emerging players are gaining traction in the market, with Xiaomi being a prime example. Known primarily for its smartphones, Xiaomi has been making notable progress in the industry. Additionally, tech giants such as Google and Meta are making strides in virtual and augmented reality, which are becoming increasingly significant components of the overall market. As such, the competition in the Consumer Electronics market is intensifying, with established and emerging players vying for market share and consumer attention.

Moving forward, we anticipate that several trends will fuel further growth in the Consumer Electronics market, including the emergence of 5G networks, the surging popularity of smart homes, and advancements in augmented and virtual reality technologies. These trends are set to transform a world that is becoming increasingly digital and interconnected, creating a plethora of opportunities for the Consumer Electronics market to expand. As such, we expect this market to benefit significantly from these developments in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.

Visión general

  • Revenue
  • Key Players
  • Volume
  • Price
  • Analyst Opinion
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
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