Electronics Retailing Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 1.07 Trillion |
| Market Size (2029) | USD 1.37 Trillion |
| CAGR (2024 - 2029) | 5.02 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electronics Retailing Market Analysis
The Electronics Retailing Market size is estimated at USD 1.07 trillion in 2024, and is expected to reach USD 1.37 trillion by 2029, growing at a CAGR of 5.02% during the forecast period (2024-2029).
Electronics retailing is an ever-evolving industry that has undergone massive changes in recent years. With the rapid advancement of technology and the increasing demand for electronic devices, the industry has experienced significant growth. The growing consumer demand for electronic devices such as smartphones, laptops, and tablets is a primary driving force behind the industry's growth. Moreover, the declining prices of these electronic devices have made them more accessible to a larger segment of the population, boosting the market's growth potential.
The shift toward online shopping has also contributed to the growth of the electronics retailing industry. With the increasing availability of high-speed internet, consumers can shop for electronic devices conveniently from the comfort of their homes. The rising adoption of e-commerce platforms such as Amazon, Alibaba, and eBay has revolutionized consumer shopping for electronics. Furthermore, the technological advancements in the electronics industry have resulted in the introduction of new devices with innovative features, such as IoT devices, which are driving the market's growth further. These devices are gaining traction as they offer a convenient way for consumers to automate their homes and enhance their overall lifestyle.
Electronics Retailing Market Trends
E-commerce Dominating the Electronics Retailing Market
E-commerce continues to dominate the electronics retailing landscape, with consumers increasingly preferring online platforms for purchasing electronic devices and gadgets. One of the key driving factors behind e-commerce dominance is the convenience and accessibility it offers consumers.
Price competitiveness is also a significant driver of e-commerce dominance. Online retailers usually have lower overhead costs compared to physical stores, enabling them to offer competitive pricing and frequent discounts. Moreover, the ability to compare prices on various platforms quickly empowers consumers to find the best deals. In addition to competitive pricing, e-commerce platforms often run promotional campaigns, flash sales, and exclusive offers, further attracting consumers and driving sales.
Advancements in logistics and fulfillment technologies enable e-commerce retailers to offer fast and reliable shipping options, including same-day or next-day delivery in some regions. Efficient order tracking systems and hassle-free return policies enhance consumer confidence and satisfaction, fostering repeat purchases and customer loyalty.
The COVID-19 pandemic has expedited the shift toward e-commerce in the electronics retail market. With physical retail stores temporarily closed or operating with restrictions, consumers turned to online platforms to fulfill their electronic needs. This period has further highlighted the convenience, safety, and reliability of e-commerce, leading to a surge in online sales.
North America is Expected to Dominate the Market
The electronics retailing market in North America is a highly competitive and rapidly evolving industry. With a tech-savvy population and increasing disposable income, North America has long been a crucial market for electronics retailers. The region is home to several major players, both brick-and-mortar and online, who have established a strong presence and shaped the industry. In North America, the United States boasts the largest electronics retailing market. The country has a robust consumer electronics industry driven by innovation, advanced technology, and a strong demand for the latest gadgets and devices. Significant retailers such as Best Buy, Walmart, and Amazon have successfully capitalized on this demand, offering a wide range of products and services.
In recent years, there has been a growing trend of omnichannel retailing in North America. Retailers have recognized the importance of integrating physical stores with e-commerce platforms and mobile apps. This omnichannel approach allows customers to seamlessly transition between online and offline channels, benefiting from features such as in-store pickup, easy returns, and personalized recommendations. The market has also witnessed the emergence of niche electronics retailers specializing in specific product categories such as gaming, home automation, or audio equipment.
Electronics Retailing Industry Overview
The electronics retailing market features a competitive landscape dominated by multinational corporations, e-commerce giants, and established brick-and-mortar retailers. Key players such as Amazon, Best Buy, Walmart, Dell, and Apple compete for market share through diverse product offerings, competitive pricing, and innovative marketing strategies.
Electronics Retailing Market Leaders
-
Amazon
-
Best Buy
-
Walmart
-
Dell
-
Apple
*Disclaimer: Major Players sorted in no particular order
Electronics Retailing Market News
- February 2024: New Home Distribution (Africa) Limited (NHDAL) and Samsung Electronics partnered to assemble consumer electronics (CE) products in Nigeria.
- January 2024: A strategic agreement was established between Bell Canada and Best Buy Canada to manage 165 retail shops selling consumer electronics in Canada.
Electronics Retailing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Disposable Income
4.2.2 Growth of E-commerce Platforms
4.3 Market Restraints
4.3.1 Fierce Competition in the Market
4.3.2 Growing Consumer Worries About Data Breaches and Privacy Matters
4.4 Market Opportunities
4.4.1 Surge in Adoption of Smart Home Devices and Wearable Tech
4.4.2 Strategic Collaborations and Partnerships with Key Manufacturers and Suppliers
4.5 Value Chain Analysis
4.6 Industry Attractiveness: Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Technological Advancements in the Industry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Smartphones
5.1.2 Laptops
5.1.3 Tablets
5.1.4 Television
5.1.5 Home Appliances
5.2 By Distribution Channel
5.2.1 Retailer Websites
5.2.2 Online Marketplaces
5.2.3 Third-Party Retailers
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Amazon
6.2.2 Walmart
6.2.3 Apple
6.2.4 BestBuy
6.2.5 Dell
6.2.6 Samsung
6.2.7 LG Electronics
6.2.8 Staples
6.2.9 Panasonic
6.2.10 Haier Group*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER AND ABOUT US
Electronics Retailing Industry Segmentation
The electronics retailing market refers to the retail industry that focuses on the sale of electronic devices and related products. The electronics retailing market is segmented by product, distribution channel, and geography. By product, the market is segmented by smartphones, laptops, tablets, televisions, and home appliances. By distribution channel, the market is segmented by retailer websites, online marketplaces, and third-party retailers. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The report offers market size and forecasts for the electronics retailing market in value (USD) for all the above segments.
| By Product | |
| Smartphones | |
| Laptops | |
| Tablets | |
| Television | |
| Home Appliances |
| By Distribution Channel | |
| Retailer Websites | |
| Online Marketplaces | |
| Third-Party Retailers |
| By Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Electronics Retailing Market Research FAQs
How big is the Electronics Retailing Market?
The Electronics Retailing Market size is expected to reach USD 1.07 trillion in 2024 and grow at a CAGR of 5.02% to reach USD 1.37 trillion by 2029.
What is the current Electronics Retailing Market size?
In 2024, the Electronics Retailing Market size is expected to reach USD 1.07 trillion.
Who are the key players in Electronics Retailing Market?
Amazon, Best Buy, Walmart, Dell and Apple are the major companies operating in the Electronics Retailing Market.
Which is the fastest growing region in Electronics Retailing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electronics Retailing Market?
In 2024, the North America accounts for the largest market share in Electronics Retailing Market.
What years does this Electronics Retailing Market cover, and what was the market size in 2023?
In 2023, the Electronics Retailing Market size was estimated at USD 1.02 trillion. The report covers the Electronics Retailing Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Electronics Retailing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electronics Retailing Industry Report
Statistics for the 2024 Electronics Retailing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electronics Retailing analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
