The Consumer Electronics Market is expected to reach $1257.4 billion by 2031, at a CAGR of 3.9% from 2024 to 2031. The growth of this market is attributed to the increasing government initiatives to promote connected devices, rapid growth of the e-commerce industry, acceleration in urbanization & rising disposable income, and technological advancements in electronic devices. Moreover, the increasing adoption of smart devices and increasing integration of artificial intelligence (AI) and machine learning (ML) are expected to offer growth opportunities for the players operating in this market.
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