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Consumer Electronics Market Set to Recover, Expected to Reach $1 Trillion by 2026

2024-12-07 23:53:44.864000

The global consumer electronics market is on the path to recovery, with projections indicating it will reach a significant valuation of $1 trillion by 2026. This comes after a challenging period marked by a $10 billion revenue decline since 2021 and a $42 billion drop in 2022. Additionally, a $6 billion dip is projected by the end of 2024. Despite these setbacks, global sales are expected to rebound, hitting approximately $977.5 billion in 2025. Notably, smartphone sales are projected to grow by 8%, reaching $521 billion by 2026. The gaming sector is also expected to see robust growth, with sales anticipated to increase by 12% to $38.3 billion by 2029. Furthermore, streaming devices are projected to experience a remarkable 40% increase, reaching nearly $17 billion by 2029. Other segments, including computing, drones, and television equipment, are expected to see modest gains of 12%, 11%, and 9%, respectively [06985edb].

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