Companies are now focusing on constant productivity improvements in several product costs as well as structural costs owing to the competitive cost structures. For instance, the company can use its R&D investment to develop competitive advantage to support the differentiation generic strategy (Read: Sonys Generic Strategy & Intensive Growth Strategies). Browse key industry insights spread across 340 pages with 296 market data tables & 75 figures & charts from this 2018 report Consumer Electronics Market Size By Product (Audio & Video Equipment [Personal, Professional], Major Household Appliance, Small Household Appliance, Digital Photo Equipment [Personal, Professional]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, Japan, South Korea, India, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Landscape & Forecast, 2017 2024 in detail along with the table of contents: https://www.gminsights.com/industry-analysis/consumer-electronics-market. Consumer electronics industry is a fashionable, innovative and high-technology industry. As per reliable statistics, by 2020, Asia Pacific is expected to witness 903 million TV households, an upsurge of 100 million than that recorded in 2014. Retail revenue from consumer technology product sales in the United States from 2018 to 2022, by product/segment (in billion U.S. dollars)*, Further details: The market is projected to grow USD 1000.9 Billion in 2030 . The Indian appliance and consumer electronics (ACE) market is expected to increase at 9% CAGR to reach Rs. 2. When describing a PESTEL-Analysis, this is a strategic framework, which is commonly used to analyze the business environment in which a firm operates. I have used them in a lot of my personal research work.-Mudassir KhanAccounting and Business, Melbourne Polytechnic, Here the research is to-the-point, no beating round the bush. On the other hand, the increasing regulations on e-waste are a threat in terms of the additional efforts and expense of reducing the environmental impact of the companys consumer electronics and gaming products. A PESTEL analysis is used to identify threats and weaknesses . Yet another factor to have propelled China consumer electronics industry space is the region being host to renowned industry players including the likes of Midea group and Gree Electric, which are regarded as two of the top pioneers in consumer electronics industry space. The target is to achieve 30 MW of renewable energy generation capacity across the world by 2020. PESTLE Analysis 3.5. MCDM Methods in Practice: Determining the Significance of PESTEL Analysis Criteria. This stability corresponds to the minimization of political barriers in the remote or macro-environment, thereby presenting opportunities for business expansion. We've encountered a problem, please try again. The company report will include its brands and competitors, with links to current news articles, court cases, and intellectual property. In recent years, the market for advanced simulators that mimic real-world driving experiences has skyrocketed. The new subsidiary will sell and market the complete range of Beijer Electronics products including operator panels, industrial PCs as well as industrial networking products. Consumer electronics (CE) are part of our daily lives, and hard to imagine a world without them. Not to mention, with anticipation of smart notion chiefly characterizing this business fraternity, the consumer electronics industry players are overt to witness a plethora of opportunities in the coming years. While Logitech has gone to great lengths to ensure its products are not copied, numerous counterfeits have appeared on the market. One of the biggest markets for consumer electronics is in the United States, with annual consumer. This external factor is a threat because it creates more challenges against the company. Thus, companies necessitate a skillful next-gen workforce adequately trained in current technology fields. 1. Europa World provides profiles of over 250 countries and territories, including extensive sections on political history, foreign affairs, and economic affairs. The following political external factors are significant in Sonys case: Sony Corporation benefits from the political stability in majority of the biggest markets. Value Chain Analysis 3.5.1. According to a research conducted by Arizton, the data center market in India is expected to grow at a CAGR of 9% during 2018-2024 to reach $4 billion by 2024. This report is shared in order to give you an idea of what the complete Regulatory Outlook Report will cover after purchase. China is another major region standing as a major contributor toward global consumer electronics industry share. 2003-2023 Chegg Inc. All rights reserved. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. Lenovo has implemented various programs that are inline to achieving the UN goals. The Acer Inc. is a Taiwanese multinational hardware and electronics corporation specializing in advanced electronics technology and is headquartered in Xizhi, New Taipei City, Taiwan. Such products could attract more customers. In Amazon's case, the following political external factors are important in the development of the e-commerce industry: We are happy to help. In relation, governments are developing additional measures to support online business. The detailed complete set of references are available on request in the 'Complete report' on purchase. They may also include shifters, handbrakes, and other such automotive peripherals. In any case, the rise of remote work will create new demand for computer peripherals, such as mice, keyboards, and especially accessories used for online conferencing, like microphones and headsets. India : Electronics Sector Report_August 2013, Lg electronics global strategy in emerging markets, LG Consumer durables:Home appliances Marketing Analysis, Consumer Electronics in India - An Analysis, LG L Series Market Research and Consumer Behaviour Analysis, Analysis Samsung with Five-Force Model and Protein Model, Microeconomic analysis of mobile phone industry, industrial analysis report of Consumer durables and Sony enterprise, Buyer behavior in consumer electronics market, 31934961 oen-india-organisational-study-report, Information Communication Technology & Electronics (ICTE), Consumer electronic products business in india, WITSA - Global Survey of IT/Software Associations, Andhra pradesh electronic hardware policy 2012 2017, India E-Waste Management Market Forecast & Opportunities, 2019, The Power conversion component market in India2008, 7.Pre-recorded Video Lectures Schedule-Atomic & Molecular Physics.pdf, LEARNING TO RECONGNIZE MONEY LAUNDERING TYPOLOGIES - 2023, Debt Watch | ICICI Prudential Mutual Fund, No public clipboards found for this slide, Enjoy access to millions of presentations, documents, ebooks, audiobooks, magazines, and more. Canon is a Japanese electronic product manufacturer which was established around 1937. The SWOT analysis uncovers a discussion on how the company builds on its strengths to overcome internal weaknesses and stem threats in its macro environment. This report is shared in order to give you an idea of what the complete Stakeholder Analysis Report will cover after purchase. Get more details on this report - Request Free Sample PDF Consumer electronics are electronic equipment for non-commercial use. Growing global smart home market: According to industry research, the smart home market is expected to grow at a CAGR of 12.02% from $76.6 billion in 2018 to $151.4 billion in 2024. As employers realize they no longer need to splurge on office pace and employees realize they can save time by avoiding their commutes remote work was bound to grow in popularity, but coronavirus certainly sparked a push. A complete PESTAL Analysis of Electronics Industry, #Economy # MBA Syallabus # Compitative Study DheerajRajpurohit2 Follow Advertisement Advertisement Recommended Analysis of Electronics Sector in India Pushpak Elleedu 11.2k views 20 slides Brand analysis of LG Susmit Ganguly 1.9k views 16 slides B Plan On Consumer Electronics Ashish Bansal Enter the name of a country in the All Countries search box. Free access to premium services like Tuneln, Mubi and more. Computer Engineering Market Competitive Landscape & Product Benchmarking 2017-2024, Humanoid Robot Market Trends 2018 Growth Forecast Research 2024, https://www.gminsights.com/request-sample/detail/2383, https://www.gminsights.com/inquiry-before-buying/2383, https://www.gminsights.com/toc/detail/consumer-electronics-market. Most of these external factors present opportunities that Sony can take. The growth drivers are: large number of internet users, increasing usage of smart devices, rising awareness of healthy lifestyles and fitness, rising importance given to monitoring homes from remote locations and rising need for energy efficient solutions. Panasonic has its headquarters in Osaka, Japan. Segmentation, Targeting and Positioning (STP) Analysis Report. This couldnt be truer in the gaming space, where manufacturers are held to high standards due to the tech savviness of consumers. Moreover, the report contains analyses of Samsung leadership, business . Lenovos sites across the world are ISO 14001:2015 certified. The PESTLE analysis (Phan, 2021; Cadle et al. This external factor creates opportunities for Sony to enhance its online operations. Overall Impact of . Customized Solutions Here are two Sociocultural factors affecting Logitech: Theres no doubt about it: the popularity of gaming is only growing in society. As an extremely competitive market, there are always new players entering the market, particularly from China, a global hub for manufacturing products. For example, the US-China trade war has caused major disruption in the consumer electronics industry. Customized Solutions Political Factors: Political factors can have a major impact on the consumer electronics market. Here is a Political factor affecting Logitech: Logitech manufactures the vast majority of its products in Suzhou, China. Global Market Insights, Inc. A public opinion/polling database of 500,000+ questions and answers on a wide range of topics collected by the Roper Center for Public Opinion Research; data covers 1935-present. Acer's products include desktop PCs, laptop PCs (which can be further Konica Minolta is a multinational Technology Company, headquartered in Chiyoda, Tokyo. The companys vision is to create personal devices which people are inspired to own, a culture which people have aspirations of joining, and a trusted business that is respected worldwide. The Global Consumer Electronics Market was valued at USD 720 Billion in 2021. The substantial surge in household incomes has had a direct relationship with the spending on electronics items, in turn stimulating the sales of consumer electronics products including the likes of tablets, smartphones, home appliances, and other wearable electronics. Consumers worldwide are forecast to spend 505 billion U.S. dollars in 2022 on electronics. Click here to review the details. It allows a company to form an impression of the factors that might impact a new business or industry. On the contrary, Augmented reality (AR) is not as immersive, blending the digital and physical worlds. Looks like youve clipped this slide to already. Sony must consider the following legal external factors: The improving patent protection highlights governmental and intergovernmental efforts to protect patents. Nonetheless, based on the same external factor, Sony has opportunities to grow its electronics, gaming, entertainment and financial services businesses. For instance, the company can take advantage of the availability of such facilities to implement more comprehensive recycling programs. Holistic Analysis Need Strategic Analysis for this company? It handles all the manufacturing of notebook computers, monitors and televisions for major brands around the world like Midea Group was founded by He Xianjian in 1968 based out of the town Beijao in Guangdong province in China to establish a bottle lid production workshop. Combating the threat of climate change: Lenovo believes in the threats posed by climate change and makes efforts to reduce greenhouse gas emissions. View the full answer. For example, the integration of digital technology in smart homes presents new markets or market expansion opportunities for Sony. Key Performance Indicators (KPI's) Report. Traditionally, the main products in this market are TV, VCR, and CD player etc. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. This report is shared in order to give you an idea of what the complete SWOT & PESTLE analysis report will cover after purchase. The market holds a share of US$ 3.3 trillion in 2023 while expecting revenue of US$ 5.8 Trillion by 2033. Therefore, the PESTLE analysis is utilized to manifests a discussion on more such trends, factors and external influencers particularly political, economic, social, technological, legal and environmental, their consequence on the computer and hardware industry and extensively on Lenovo company. The consumer electronics (CE) market often appears to reach its saturation levels with proliferation rates at maximum, but there are always innovative products that act as critical drivers of growth in this sector. In relation, the increasing product regulation threatens the company by requiring additional expenditure for compliance. Copyright 2023. Also included are full-text case studies, company and industry profiles, country reports, executive and analyst interviews, market research reports and SWOT analyses. Based on this aspect of the PESTEL/PESTLE analysis of Sony, economic conditions present opportunities in the remote or macro-environment. With people spending a lot more time at home, increased demand for greater comfort and security through smart devices and appliances drove growth in the sector. It delves into six key factors affecting a company's operations: Political, Economic, Social, Technological, Legal, and Environmental. Sony Corporation must satisfy legal requirements appropriate to its remote or macro-environment. Industry Trends. Fujifilm Holdings Corporation SWOT & PESTLE Analysis, Compal Electronics SWOT & PESTLE Analysis. Do not sell or share my personal information. This report is shared in order to give you an idea of what the complete Porter's Five Forces Analysis Report will cover after purchase. (2012). This report is shared in order to give you an idea of what the complete Subsidiaries, Partnerships and Collaborations Report will cover after purchase. Provide a PESTEL analysis for the Consumer Electronics industry. Arun Hegde Experts are tested by Chegg as specialists in their subject area. Changes in the macro-environm . Trade war and distrust against Chinese companies in United States, 1. In addition, Sony can boost its sales revenues based on increasing openness toward leisure. Virtual reality (VR) is a fascinating way to explore the world through head-mounted devices, from environments created from the real world to the virtual world of gaming, or innovation in industrial and medical applications. This PESTEL/PESTLE analysis of Sony Corporation reveals a number of significant opportunities and threats that shape the electronics, gaming, entertainment and financial services markets. India on the verge of significant data center expansion - https://www.thehindubusinessline.com/economy/india-on-the-verge-of-significant-data-centre-expansion/article26272072.ece, 4. Sony Corporation continues its global success by addressing the external factors and related issues in the remote or macro-environment of its business. From PwC: "this useful online tool will help you make informed decisions with the most up-to-date and relevant details about tax systems in more than 150 territories worldwide." Another aspect of sustainability is choosing materials that cause less strain on the environment. Statista provides information on spending within the overall consumer technology industry and its segments, both on a global and regional scale. By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. Step-by-step guide for conducting industry research with links to sources of information, General U.S. and International Industry Reports and Trends, https://libguides.libraries.wsu.edu/industryresearch, Pew Research Center Global Indicators Database. Sustainable transport and packaging: Companies can reduce carbon footprint; transportation spend and warehouse costs by avoiding conventional packaging methods and materials. This external factor points to increasing individual and organizational demand for digital technologies. The electronic market holds the products of Consumer Electronics, Industrial-Electronic, Electronic Components, Semiconductor Design, and Electronic Manufacturing Services. These simulators, or sims, consist of a wide range of modular parts, including some kind of display, steering wheel, and pedal set. Telangana and Andhra Pradesh are two states that are likely to become major locations for mega data centers. However, no research has examined existing IoT . 7.40. This section is available only in the 'Complete Report' on purchase. It primarily produces cameras and office equipment such as printers, photocopiers, projectors and fax machines etc. Sony depends on technologies used in its business, and technologies that facilitate the use or consumption of its products. As shown in this PESTEL/PESTLE analysis, these concerns are crucial determinants in the companys remote or macro-environment. One of the biggest markets for consumer electronics is in the United States, with annual consumer spending of several hundred billion U.S. dollars. The . Lenovo is titled as the world's largest PC Vendor, third-largest smartphone company, and one of the largest hardware companies globally. Manufacturers are also relying on collaborations and acquisitions to gain a larger industry share. It examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. !-Keith GrencherBirmingham Business School. This aspect of the PESTEL/PESTLE analysis model focuses on governmental activity and its effects on businesses and their remote or macro-environment. I am also present on - The global consumer electronics market, as per industry analysts, stood at USD 1100 billion in 2016. Results will usually include Country Reports and Dossiers. Corporate initiatives to achieve the UN Sustainable Development Goals: The rising awareness of the need for sustainability has led to governments and corporates implementing sustainability initiatives. Email:sales@gminsights.com The dominant players in the industry are large companies such as Apple, Samsung, and Sony. 1. Environmental, Social, and Governance (ESG) Analysis Report. Available from 1984-present in ProQuest Global Newsstream. The P stands for the political factors, and are those driven by government actions and policies. Visit original statistic We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing. E - Environmental. 5. https://issuu.com/robertserry Your email address will not be published. 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