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Consumer Electronics Market Surges to USD 1782.60 Billion by 2030, Propelled by 6.6% CAGR – Verified Market Reports®

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The Consumer Electronics Market is driven by several key factors, including the rapid advancement of technology and the increasing demand for smart devices. The proliferation of the Internet of Things (IoT) and advancements in artificial intelligence are fueling growth as consumers seek more connected and intelligent devices.

LEWES, Del., Nov. 19, 2024 /PRNewswire/ — The Global Consumer Electronics Market is projected to grow at a CAGR of 6.6% from 2024 to 2030, according to a new report published by Verified Market Reports®. The report reveals that the market was valued at USD 1138.83 Billion in 2023 and is expected to reach USD 1782.60 Billion by the end of the forecast period.

Changing lifestyles, urbanization, and a rising middle class in developing economies are driving up the demand for consumer electronics like smartphones, tablets, and wearables. On the other hand, the market faces significant restraints such as the high cost of production and technological obsolescence. The fast pace of innovation means that new devices can quickly become outdated, leading to shortened product lifecycles and increased pressure on manufacturers to continually innovate. Furthermore, issues related to e-waste management and environmental sustainability also pose challenges, as the industry grapples with the growing problem of electronic waste disposal and recycling.

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Browse in-depth TOC on Consumer Electronics Market

202 – Pages
126 – Tables
37 – Figures

Scope of The Report

REPORT ATTRIBUTES

DETAILS

STUDY PERIOD

2021-2030

BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2021-2022

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Apple, Hewlett Packard, Hitachi, LG Electronics, Philips, Samsung Electronics, Sony, Toshiba

SEGMENTS COVERED

By Type, By Application, By Geography

CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope

Global Consumer Electronics Market Overview

Market Drivers Fueling Growth in the Consumer Electronics Market

Technological Advancements
The continuous evolution of consumer electronics is driven by rapid advancements in technology. Innovations such as artificial intelligence (AI), 5G connectivity, and Internet of Things (IoT) integration have revolutionized the consumer electronics market. These technologies enable smarter, faster, and more efficient devices, attracting a larger consumer base. As AI and automation enhance user experiences, demand for smart home appliances, wearables, and autonomous vehicles rises. The ability to integrate various functions into single devices contributes to higher adoption rates across global markets.Rising Disposable Income and Urbanization
Increased disposable incomes, particularly in emerging markets, have expanded the consumer base for electronics. Urbanization, coupled with a growing middle class, has made high-tech gadgets more accessible to a wider population. Consumers are willing to invest in premium, feature-rich electronics due to their enhanced lifestyles and improved standards of living. This trend is driving demand for products such as smartphones, laptops, and home entertainment systems, as urban areas see a surge in demand for the latest technology.Demand for Sustainability and Eco-friendly Products
Sustainability has become a key factor influencing consumer preferences in the electronics market. With rising environmental awareness, consumers are increasingly seeking energy-efficient, eco-friendly, and recyclable products. Manufacturers are responding by incorporating sustainable materials and processes in their product designs. As governments and corporations alike focus on reducing carbon footprints, consumers are prioritizing brands that align with eco-conscious values. This shift towards sustainability is not only fueling growth but also fostering innovation in energy-efficient technologies.

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Market Restraints Limiting Expansion in the Consumer Electronics Market

High Manufacturing Costs
The rising costs of raw materials, such as semiconductors and rare earth metals, have significantly impacted the production of consumer electronics. These high manufacturing expenses are often passed on to consumers, leading to higher product prices. Additionally, the complexities involved in designing and producing advanced technologies, such as 5G and AI integration, further elevate the cost structure. As a result, affordability becomes a limiting factor, particularly in price-sensitive markets, restricting broader adoption and market growth.Supply Chain Disruptions
Ongoing supply chain challenges, exacerbated by geopolitical tensions and the COVID-19 pandemic, have hindered the timely production and distribution of consumer electronics. Shortages of key components like microchips and logistical bottlenecks have led to delayed product launches and limited availability in certain regions. These disruptions not only increase lead times but also inflate prices, dampening consumer demand and slowing the overall market expansion.Data Privacy and Security Concerns
As consumer electronics become more integrated with personal data, concerns over privacy and security are becoming more pronounced. With the rise of IoT devices and cloud-connected services, consumers are increasingly wary of their data being compromised or misused. Regulatory pressures are also growing, as governments seek to implement stricter data protection laws. These concerns can deter consumers from adopting new technologies, especially in sectors like wearable devices and smart home appliances, where constant data sharing is integral to functionality.

Geographic Dominance

The Consumer Electronics Market demonstrates notable geographic dominance across several key regions, with North America and Europe leading the way due to their advanced infrastructure, high disposable incomes, and demand for premium electronic products. North America, driven by the United States, remains a stronghold due to technological innovation and consumer spending power. Europe follows closely, with countries like Germany and the UK being major consumers of smart devices, wearables, and home entertainment systems. In Asia, particularly in China, Japan, and South Korea, the market thrives due to the rapid adoption of new technologies, large manufacturing bases, and a high appetite for electronics. The region also benefits from a booming middle class and rising urbanization. Africa and the rest of the world are witnessing steady growth as mobile penetration and affordable electronics drive consumption in emerging economies, although these markets face challenges such as economic instability and lower purchasing power.

 Consumer Electronics Market Key Players Shaping the Future

Major players, including Apple, Hewlett Packard, Hitachi, LG Electronics, Philips, Samsung Electronics, Sony, Toshiba and more, play a pivotal role in shaping the future of the Consumer Electronics Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.

Consumer Electronics Market Segment Analysis

Based on the research, Verified Market Reports® has segmented the global Consumer Electronics Market into Type, Application and Geography.

Consumer Electronics Market, By TypeTVAudio Video DevicesTelecom EquipmentComputerConsumer Electronics Market, By ApplicationCommercialPersonalConsumer Electronics Market, By GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin America

Browse Related Reports:

Global Electronic Components Market By Type (Active components, Passive components), By Application (Automotive, Communications and Computing), By Geographic Scope And Forecast

Global Electronics manufacturing services (EMS) Market By Type (Electronic Manufacturing, Engineering Services), By Application (Computer, Communications), By Geographic Scope And Forecast

Global MEMS Accelerometer for Consumer Electronics Market By Type (1-axis MEMS Accelerometer, 2-axis MEMS Accelerometer), By Application (Video Games, Mobile Phones), By Geographic Scope And Forecast

Global Consumer Electronic Accessories Market By Type (Cell Phone Accessories, Car Electronic Accessories), By Application (Multi-Brand Stores, Single Brand Stores), By Geographic Scope And Forecast

Global Logistics Services for Consumer Electronics Market By Type (Transportation, Warehousing), By Application (Brand Manufacturers, OEMs), By Geographic Scope And Forecast

About Us

Verified Market Reports® ­stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, Verified Market Reports has been instrumental in providing founders and companies with precise, up-to-date research data.

With a team of 500+ Analysts and subject matter experts, Verified Market Reports leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.

Verified Market Reports’ domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.

Verified Market Reports® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights Verified Market Reports’ dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide.

Contact Us
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Verified Market Reports®
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NASA Plans to Assign Missions for Two Future Artemis Cargo Landers

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WASHINGTON, Nov. 19, 2024 /PRNewswire/ — NASA, along with its industry and international partners, is preparing for sustained exploration of the lunar surface with the Artemis campaign to advance science and discovery for the benefit of all. As part of that effort, NASA intends to award Blue Origin and SpaceX additional work under their existing contracts to develop landers that will deliver large pieces of equipment and infrastructure to the lunar surface.

NASA expects to assign demonstration missions to current human landing system providers, SpaceX and Blue Origin, to mature designs of their large cargo landers following successful design certification reviews. The assignment of these missions builds on the 2023 request by NASA for the two companies to develop cargo versions of their crewed human landing systems, now in development for Artemis III, Artemis IV, and Artemis V.

“NASA is planning for both crewed missions and future services missions to the Moon beyond Artemis V,” said Stephen D. Creech, assistant deputy associate administrator for technical, Moon to Mars Program Office. “The Artemis campaign is a collaborative effort with international and industry partners. Having two lunar lander providers with different approaches for crew and cargo landing capability provides mission flexibility while ensuring a regular cadence of Moon landings for continued discovery and scientific opportunity.”

NASA plans for at least two delivery missions with large cargo. The agency intends for SpaceX’s Starship cargo lander to deliver a pressurized rover, currently in development by JAXA (Japan Aerospace Exploration Agency), to the lunar surface no earlier than fiscal year 2032 in support of Artemis VII and later missions. The agency expects Blue Origin to deliver a lunar surface habitat no earlier than fiscal year 2033.

“Based on current design and development progress for both crew and cargo landers and the Artemis mission schedules for the crew lander versions, NASA assigned a pressurized rover mission for SpaceX and a lunar habitat delivery for Blue Origin,” said Lisa Watson-Morgan, program manager, Human Landing System, at NASA’s Marshall Space Flight Center in Huntsville, Alabama. “These large cargo lander demonstration missions aim to optimize our NASA and industry technical expertise, resources, and funding as we prepare for the future of deep space exploration.”

SpaceX will continue cargo lander development and prepare for the Starship cargo mission under Option B of the NextSTEP Appendix H contract. Blue Origin will conduct its cargo lander work and demonstration mission under NextSTEP Appendix P. NASA expects to issue an initial request for proposals to both companies in early 2025.

With the Artemis campaign, NASA will explore more of the Moon than ever before, learn how to live and work away from home, and prepare for future exploration of Mars. NASA’s SLS (Space Launch System) rocket, exploration ground systems, and Orion spacecraft, along with commercial human landing systems, next-generation spacesuits, Gateway lunar space station, and future rovers are NASA’s foundation for deep space exploration.

For more on NASA’s Human Landing System Program, visit:

https://www.nasa.gov/hls 

 

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SOURCE NASA

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GQR Life Sciences Partners with Nebula to Transform Talent Acquisition for Biopharma Clients

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — GQR Life Sciences, a leader in total talent solutions for the biopharma industry, is proud to announce a strategic partnership with Nebula, an AI-powered talent platform that takes client service and innovation to the next level. This partnership strengthens GQR Life Sciences’ ability to deliver advanced workforce solutions tailored to the unique needs of biopharma organizations, empowering them to drive progress and innovation across the industry.

Since 2016, GQR Life Sciences has served over 1,000 clients, supporting groundbreaking work in areas such as drug development, clinical research, and commercialization. The integration of Nebula into its talent solutions marks a major milestone, providing biopharma clients with cutting-edge tools to streamline talent acquisition and enhance internal hiring capabilities.

Biopharma Innovation
Nebula harnesses natural language processing and AI technology to enable precise, efficient talent matching. GQR Life Sciences’ clients can access a vast pool of over 180 million profiles, empowering them to secure the expertise needed to tackle their most complex challenges, from advancing pipelines to scaling operations.

“Integrating Nebula into our solutions takes client service and innovation to the next level for our biopharma partners,” said Trevor Symons, Head of Revenue Operations at GQR Life Sciences. “This technology allows us to deliver faster, more efficient hiring processes while giving our clients the tools to elevate their own talent acquisition strategies and maintain their edge in a competitive market.”

Enhancing Client Capabilities
Nebula enables GQR Life Sciences’ clients to independently identify and rank candidates with ease, integrating seamlessly with existing applicant tracking systems. By automating labor-intensive processes like job descriptions, recruitment marketing, and sourcing, the platform significantly reduces time-to-hire, empowering organizations to focus on advancing their strategic priorities.

Faster, Smarter Workforce Solutions
The partnership with Nebula enhances GQR Life Sciences’ ability to deliver high-value services that meet the demands of a fast-evolving industry. Whether supporting talent needs for clinical trials, manufacturing scale-ups, or commercial launches, Nebula ensures biopharma clients have access to top-tier talent with unmatched efficiency.

About GQR Life Sciences
GQR Life Sciences is a premier provider of total talent solutions for the biopharma industry. With a commitment to innovation and excellence, GQR Life Sciences helps organizations achieve their workforce goals and drive industry progress.

About Nebula
Nebula is an AI-driven talent platform that enhances recruitment outcomes through advanced natural language processing and analytics. Designed to deliver smarter, faster hiring, Nebula empowers organizations to achieve their most ambitious goals by connecting them with top-tier talent.

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SOURCE GQR

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Blackbaud Institute Releases New Research on Charitable Support Trends Across Generations in Australia and New Zealand

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Financial Donations Lead as Most Impactful Support Method Across Generations, but Volunteering and Advocacy Remain Vital

SYDNEY, Nov. 20, 2024 /PRNewswire/ — The Blackbaud Institute, a sector research lab at Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, has released a new report, Charitable Support Across Generations in Australia and New Zealand, that provides insights into the evolving charitable behaviors and support preferences of Gen Z, Millennials, Gen X, and Boomers. Through survey responses from over 1,000 participants, this comprehensive study uncovers generational attitudes toward nonprofit support, identifying factors influencing giving and highlighting the unique challenges facing the nonprofit sector in a dynamic philanthropic landscape.

The findings reveal that, across all generations, monetary donations remain the most impactful way to support causes. However, Gen Z places a high value on volunteering and advocacy, reflecting a shift toward active engagement beyond financial contributions. While health, animal welfare, and children’s causes remain widely supported, each generation brings unique perspectives and priorities to their charitable activities.

“Understanding the motivations and preferred support methods of each generation is essential, especially in a time of rising economic pressures,” said Kevin Sher, president and general manager of Blackbaud’s operations in Asia Pacific. “Our findings show that while financial support is universally valued, younger generations—particularly Gen Z—are redefining their approach to social impact through direct engagement in volunteerism and advocacy. Older generations, who are typically more financially established, donated the most, highlighting the continued importance of engaging Gen Xers and Boomers in the next decade. By adapting to generational supporting trends, nonprofits can deepen connections across age groups.”

Key Findings from the Report:

Generational Support Preferences: While financial donations lead across generations, Gen Z demonstrates a notable emphasis on volunteering (47%), and Boomers are more inclined to promote causes they care about. These insights suggest varied but complementary approaches to support.Top Influencing Factors: Trust, belief in the mission, and perceived urgency drive support across all generations. Transparency and privacy are especially important for younger generations, shaping their expectations for nonprofit communication.Barriers to Support: Economic constraints and time limitations are significant deterrents. A notable number of Gen Z and Millennial respondents report hesitancy due to concerns about nonprofit transparency and impact, underscoring the need for nonprofits to communicate their effectiveness.Acknowledgement Preferences: Email remains the most preferred form of recognition. However, Millennials and Gen Z value public recognition and detailed impact reporting, emphasising the importance of digital and personalised nonprofit engagement.

The report further provides actionable recommendations for nonprofits to effectively engage supporters across generations, including strategies to build trust, enhance volunteer programs, and diversify donation methods to meet evolving preferences. Get more information on Charitable Support Across Generations and access the full report here.

bbcon 2024 Sydney 
Publication of the new report follows the success of Blackbaud’s recent bbcon Sydney event, hosted in October. Over 100 Blackbaud customers, technology partners, expert speakers and Blackbaud staff attended the event to hear about the major waves of innovation that will transform the future of social impact for Blackbaud’s customers in the Australia and across the Asia Pacific region.

These announcements included a host of AI-powered solutions, enhanced functionality of Blackbaud’s core fundraising product, integrated payments experiences to help organisations raise and save more, and more flexibility to help customers extend their Blackbaud software. Breakout sessions provided the opportunity for delegates to hear best practices for fundraising, grantmaking, and corporate impact, as well as network with like-minded peers.

To learn more about Blackbaud’s most recent innovation, visit www.blackbaud.com.au/newsroom.

About Blackbaud Institute
The Blackbaud Institute develops leading-edge research and convenes expert voices to equip the social impact community with knowledge, insight, and confidence. The Blackbaud Institute draws from Blackbaud’s data set, the most comprehensive in the social impact community. In addition, the Institute facilitates public research studies to drive original qualitative and quantitative insight. Our research agenda is grounded in a commitment to topics that social impact organisations can apply immediately to better understand, benchmark, and improve their essential business operations. We are guided by our commitment to the social impact sector to provide timely, transparent, and well-rounded research that is free to access. From how organisations run to how donors give, we’re 100% focused on research and resources for this sector.

About Blackbaud
Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud’s essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud’s solutions are unleashing the potential of the people and organisations who change the world. Blackbaud has been named to Newsweek’s list of America’s Most Responsible Companies, Quartz’s list of Best Companies for Remote Workers, and Forbes’ list of America’s Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com.au or follow us on X/Twitter, LinkedIn, Instagram and Facebook.

Media Inquiries
media@blackbaud.com

Forward-looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Blackbaud’s investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.

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