走向全球中国品牌的战略意义-2024中国消费电子和家电行业趋势报告中英双语版

A market trends report on China consumerelectronics and appliances industry Trends report for 2024 Global CEH market opportunity3 17 Executive summary China is a global powerhouse for consumer electronics and home appliances, dominating the market withover 22% of global sales. It also holds a significant position in the Asia-Pacific (APAC) market in terms ofsales volume.As the ‘world’s factory’, China has massive electronic manufacturing and exportingcapability across a wide range of electronic products including smartphones, computers, televisions,consumer appliances and electronic components. The country has been home to most popular domesticand multinational consumer electronics brands for over two decades due to the ease of sourcing electroniccomponents for products, saving significant logistics costs. Major cities such as Shenzhen, has establishedas a hub for the electronics industry with end-to-end value chain capabilities including presence ofcomponent manufacturers, low-cost workers, and product assembly suppliers. Strong supply chainnetwork with some of the largest container ports globally, such as Shanghai, Shenzhen, and Ningbo-Zhoushan which facilitates easy movement of products internationally, also enables the market growth. The consumer electronics market attained significant growth over the past decade, driven by multiplefactors on both supply and demand sides. Rapid urbanization, a doubling of disposable income, a risingmiddle class population and increase in lower age group population have significantly bolstered thedemand for high tech consumer products for personal and professional usage. On the other hand, low-wage workers, easy access to raw markets and components, government policies that support innovationand high skilled workforce contribute to the upliftment of the region. The market witnessed a disruption in demand since the pandemic with uneven sales. There was aremarkable recovery in 2021, attributed to a significant rise in remote work, demand for householdconvenience products and consumers reinstating their electronics purchasing decisions that was put onhold. However, the market has experienced a gradual downturn again in 2022, and it is further expectedto largely remain sluggish in 2023 due to mixed consumer sentiment towards investments in new products. In recent years, the market growth is primarily driven by the convenience of online channels, productadvancements for sustainability, durability and convenience, availability of easy credit to enable purchases,and government incentive programs to boost consumption. The market is also exhibiting significanttransformation marked by increasing popularity of smart home devices for personalized consumerexperiences, demand for 5G enabled devices for better products responsiveness and reliability and rise inattraction towards premium and high-performance consumer electronics products. As innovation always remained a key differentiator, Chinese manufacturers continue to improvise productattributes by integrating artificial intelligence (AI) and 5G into their devices, revamping phones withfoldable functionality and advanced camera systems, adding 3D technology in displays, launching 5Genabled PCs, developing local operating systems for both smartphones and PCs, and many more, toprovide a connected and personalized experience to customers as well as for reducing the dependency onforeign branded products. There is also an increase alignment towards developing sustainable productsusing recycled plastics. However, Chinese consumer electronics and home appliances companies continue to face roadblocks suchas intense competition and market saturation, pressurizing them to continuously innovate and evolveproducts suitable as per changing consumer preferences and adopt faster go to market strategies. Toovercome such challenges, Chinese brands can leverage their capabilities to further develop theirbusinesses globally. China's dominance in consumer electronics exports is undeniable, with its global share reaching astaggering 42%8in 2022. Though the rise in exports of home appliances and communication equipment isin single digit, demand for cost-effectiveproducts with innovative features is driving the sales volumeglobally. The popularity of Chinese products has spread to regions such as Southeast Asia, Africa, LatinAmerica, and even Europe. This provides a favorable environment and significant opportunity for China’sconsumer electronics companies to expand their presence and capture a larger market share. However,this will require strategic vision with a multifaceted approach to establish a strong brand perception andreputation in foreign markets with readiness to address any challenges. Certain Chinese leading brands in the consumer electronics segment have set an example by flourishingthemselves as a globally recognizable company by exploring their potential. The companies initially gaineddominant position in local markets by prod