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After record sales during the pandemic, the consumer electronics market has had a challenging three years. This is as inflation and a gloomy economic outlook cut down consumer budgets and changed their spending habits. This low-demand landscape has caused a considerable revenue drop. It is pushing the market far from the pre-pandemic levels. 2025 is expected to bring a long-awaited recover. But the new market forecast is less optimistic than before.
RELATED: Consumer electronics market to see a modest recovery after 2024 drop
According to data presented by Stocklytics.com, global consumer electronics sales are expected to hit $977 billion in 2025, or $100 billion less than the earlier forecast.
Expected Annual Growth Rate Drops to 2.9%
The global consumer electronics sales have been shifting back and forth, with consumers worldwide adjusting their budgets and prioritizing spending on basic needs amid the rising costs and inflation. After a short recovery in 2023, the global sales of smartphones, PCs, gaming equipment, and other devices are expected to drop by $6 billion or 0.6% in 2024, following a considerable 4.3% drop in 2022,
While 2025 is expected to bring the long-awaited recovery, the latest Statista Market Insights survey shows a less optimistic forecast than just a few months ago. According to Statista forecast from March, global consumer electronics sales were expected to hit $1.04 trillion this year; now that figure is cut by 8% to $949 billion. The 2025 figures show a similar decline, with the sales revenue falling from $1.07 trillion in March forecast to $977 billion as of July.
The revenue difference between the two Statista forecasts becomes even bigger in the next four years, growing to $112 billion. According to the latest data, global consumer sales will hit $1.06 trillion in 2028, down from $1.17 trillion in the earlier forecast.
The annual growth rate will also decline. While the previous data showed the annual growth rate in the consumer electronics sector will float around 3% in the following years, that figure is now adjusted and stands between 2.8% and 2.9%.
TV Peripheral Devices, Gaming Equipment, and Smartphone Sales to Drive the Sales Revenue
Although Statista adjusted its general revenue forecast for the consumer electronics sector, the revenue share by type of device remained unchanged. Statista expects smartphone and gaming equipment sales to drive revenue growth in 2025, helping the market to recover after the 2024 drop.
Statistics show that global smartphone spending will grow by 3.6% and hit $504 billion in 2025, up from $486 billion this year. The gaming equipment segment will see identical growth, with revenue rising by 3.6% year-over-year to $35.3 billion in 2025.
Consumers will spend $13 billion on streaming devices
However, that is only half the growth rate expected in the TV peripheral devices segment. Statista expects consumers worldwide to spend almost $13 billion on streaming devices, like smart TV boxes, streaming sticks, and video players, or 7.8% more than this year, the biggest increase of all market segments.
Computing, drones, TV, radio, and multimedia will see much lower growth rates, with their revenues rising by 2.1%, 2.4%, and 1.8% year-over-year, respectively.
The full story and statistics can be found here:Â https://stocklytics.com/content/consumer-electronics-sales-to-hit-977-billion-in-2025-100-billion-less-than-in-earlier-forecast/
