The main pattern, trends and development opportunities of the consumer electronics peripheral equipment industry in 2024
The consumer electronics industry is a typical technology-driven industry, and the continuous application of new technologies in consumer electronics products has made consumers' demand for consumer electronics products gradually extend to the direction of intelligence, convenience and integration, which has promoted the rapid iterative update of consumer electronic products. Consumer electronics are evolving from simple functional terminals to integrated terminals that can be connected to each other. In the context of the continuous progress of consumer electronics technology and the continuous diversification of market demand, in order to adapt to the rapidly changing technological environment, meet the diversified needs of consumers, and maintain the dominant position in the industry, enterprises in the consumer electronics industry must continue to invest more resources to focus on the research and development of new technologies and new products, so as to provide new impetus for the long-term sustainable development of the industry.
1. The competition pattern of the consumer electronics peripheral equipment industry
(1) The concentration of the industry is increasing
In recent years, the huge and stable market size of global consumer electronics products has attracted many upstream consumer electronics manufacturers, and the number of market participants in the industry has been increasing, and the market competition has become more and more fierce. Although the number of upstream manufacturers has increased significantly, the scale and technical strength are uneven. The division of labor in the industry is deepening, and the positioning of enterprises in the industrial chain is more clear, making the consumer electronics industry market more mature, the concentration of the consumer electronics industry is constantly improving, and some of the weaker technical strength and smaller enterprises are gradually withdrawing, and the industry resources are gradually gathering to consumer electronics enterprises with higher industry reputation and brand image. With the development of consumer electronics products in the direction of intelligence, thinness, portability, multi-functional, integration, and high performance, consumers' requirements for product innovation and quality continue to improve, and the recognition and demand for high-quality and high-tech products have been greatly improved, which has also objectively accelerated the reshuffle of the industry.
(2) Emerging markets and technological progress have brought growth momentum, and the market size has gradually expanded
Under the existing huge consumer electronics market, the rise of emerging markets provides a certain growth momentum for the growth of the consumer electronics market. The consumer electronics market in the Asia-Pacific region, Latin America, the Middle East and Africa is not yet fully developed, and the penetration rate of online sales of consumer electronics is relatively low. In these emerging markets, with the development of their economy and the improvement of residents' consumption level, the demand for consumer electronics products is becoming more and more vigorous, and the consumer electronics industry has strong potential in these emerging markets, and at the same time brings great impetus to the development of the global consumer electronics industry.
At the same time, in the context of the rapid iteration of new technologies and new products, consumer electronics products continue to extend in product categories and breadth, and the industry boundaries have been rapidly expanded, deriving many new consumer electronics market segments. Emerging consumer electronics terminal devices such as smart homes, on-board devices, and wearable devices continue to innovate, and smart terminals are combined with emerging technologies such as artificial intelligence and cloud services to create a new blue ocean market for consumer electronics.
(3) The industry entry threshold has been raised
With the gradual maturity of the consumer electronics industry, consumers' requirements for the quality and performance of consumer electronics products have improved, and the consumer electronics market has shown a trend of quality, branding, and high-tech content. The continuous innovation of consumer electronics products has led to the emergence of new consumer electronics products such as smart homes and wearable devices, and the rapid iteration of industry technologies. In order to meet customer needs, adapt to rapid changes in the market, have stronger market competitiveness, and maintain market position, industry participation needs to keep up with market technology trends, and the technical level of the industry and independent research and development capabilities are becoming more and more demanding. In addition, consumers' recognition of product brands affects their choice of product manufacturers, so the establishment of corporate brand and reputation is crucial. The access of the consumer electronics industry has certain requirements for technical strength and innovation ability, and the establishment of brand influence has also raised the industry access threshold to a certain extent.
(4) The trend of domestic brands going overseas has increased, and the international influence has increased
With the continuous improvement of the consumption level of the world's population, the demand for consumer electronics products in the world's major developed countries and emerging economic markets is increasing, especially in the Asia-Pacific region, Latin America, the Middle East and Africa, the rapid rise of the consumer electronics industry market, providing new impetus for the development of the global consumer electronics industry, and also intensifying the global competition of major consumer electronics companies. Under the general trend of global competition, the business of domestic consumer electronics enterprises tends to be globalized and integrated, and has increasingly become a powerful force in international competition, and the brand influence has been improved to a certain extent in the world.
2. The main opportunities faced by the consumer electronics peripheral equipment industry
(1) Industrial policy support
(2) Economic globalization promotes the rapid development of domestic consumer electronics peripheral equipment enterprises
Under the trend of economic globalization, the international community has developed rapidly. In this scenario, domestic consumer electronics peripheral enterprises seize the opportunity of economic globalization and export their products to major developed countries and regions in the world such as North America, Europe, Japan and the Middle East, and have a good sales scale on overseas e-commerce platforms such as Amazon, Lazada, Shopee, and AliExpress. Economic globalization enables domestic consumer electronics peripheral enterprises to rely on exports to quickly seize the international market, further expand product sales areas and channels, and expand brand influence. At the same time, economic globalization will help domestic consumer electronics peripheral enterprises to carry out international technical exchanges, grasp the international market demand, keep up with global technology trends, and improve the international market position while expanding sales.
(3) Consumer goods trading is rapidly developing online
With the popularization of the Internet, offline transactions are accelerating to online transactions, and the online sales market is expanding. On the one hand, online transactions have greatly shortened the distance between the supply side and the consumer side, strengthened the connection between brands and consumers, and deepened the impression of corporate brands in the minds of consumers. On the other hand, China's unique Internet economy with deep vertical scenarios and leading 5G communication core technologies have accelerated the online of China's offline sales scenarios, enabling enterprises to directly interact with consumers by relying on e-commerce platforms, reducing the cost of the first chain, and further improving the response speed of consumer demand to better meet the needs of consumers. The trend of online offline transactions will help consumer electronics peripheral companies occupy market share, and industry leaders will also be more sensitive to market changes.
(4) China's consumer electronics industry chain occupies an important position in the international market
After years of development, China has established a relatively complete industrial system, coupled with China has a relatively complete transportation, logistics and other infrastructure, so that China's consumer electronics industry in the global industrial chain cost, technology, quality, supporting industry chain and other comprehensive advantages are obvious, China's consumer electronics industry chain occupies an important position in the international consumer electronics market. At the same time, China's continuous optimization of the business environment and policy support for enterprises with high technology content and strong sense of innovation will help enterprises in the consumer electronics industry chain to achieve industrial upgrading. Under the current domestic industrial situation, the industrial chain advantages of domestic leading enterprises will help enterprises achieve a better market position in the international consumer electronics market.
(5) The steady growth of per capita disposable income has promoted the continuous enhancement of residents' consumption power
For more industry information, please refer to Pricewater's Strategic Consulting2024-2030 Consumer Electronics Peripheral Equipment Industry In-depth Research and Investment Prospect** ReportAt the same time, PwC Consulting also provides services such as industrial research reports, industrial chain consulting, project feasibility reports, specialized and special new little giant certification, national manufacturing single champion enterprise certification, 14th Five-Year Plan, post-project evaluation report, BP business plan, industrial map, industrial planning, blue IPO fundraising and investment feasibility study, IPO working paper consulting and other services.