Consumer Electronics

Prototype Mass Production, PCBA boards SMT PCB assembly and turnkey electronic contract manufacturing OEM EMS company, supplier, manufacturer, full system integration box build in china – Hitech Circuits Co., Limited

Hitech Circuits offers deep experience in consumer electronics solutions from concept through execution. We can help you create value-add campaigns and compelling in-store activation using custom fixtures, interactive displays, digital merchandising and more. We leverage the latest in digital and data technologies to inspire and engage savvy customers. Best of all, our seasoned pros and turnkey process ensure everything comes together seamlessly and keeps evolving right along with your products.

Hitech Circuits is a good partner to the world’s leading multimedia Original Equipment Manufacturers (OEMs), with a clear focus of delivering quality, flexibility and value. Hitechpcba provides complete systems manufacturing and order fulfillment to provide cost-effective, end-to-end supply chain solutions for the most innovative consumer, lifestyle, gaming, and payment services companies. We’re focused on home entertainment, personal lifestyle and other multimedia devices that include:

•       Set-top boxes, cable and satellite receivers

•       Home Used Consumer electronics

•       Audio and video equipment

•       Cinematography, digital cameras

•       Casino gaming systems and electronics

•       Global positioning systems

•       Portable media/audio players, digital audio books

•       E-Book readers and devices

•       Point-of-sale terminals, kiosks and automated retail vending systems

•       Motion sensors for lighting, temperature and smart home devices

•       Chargers, battery systems and power supplies

•       Washing machines and dryers

•       Microwave ovens

•       Gaming devices and peripherals.

Industry Trends

Consumer Electronics Market size was valued at over USD1.5 trillion in 2023 and is estimated to grow at a CAGR of more than 8% from2023 to 2027. Rapidly increasing internet penetration across the globe will drive the market growth.

Consumer electronics are electronic equipment for non-commercial use. Consumer electronics include devices that provide one or more functionalities such as computers, laptops, mobile devices, smart wearables, television sets, refrigerators, smartphones, and home appliances.

Continuous investments by market players in R&D for the development of new consumer electronic products with enhanced features will fuel the industry growth of consumer electronics. For instance, Philips spent USD 506.14 million in R&D activities in the first quarter of 2021. Philips invests significantly in R&D and innovation through its innovation 2025 transformation program. Aggressive investments in R&D and the expansion of geographic presence to meet growing consumer demands will spur the growth of consumer electronics.

The market is one of the fastest-growing industries attributed to the emergence of new technologies. Rapid advancements in technology to cater to consumer demands will create market opportunities during the forecast period. The market trend of integrating microLED technology into televisions for high-resolution density will augment the market expansion. Prominent market leaders including LG, HUAWEI, Samsung, ZTE and others have launched microLED TVs for commercial and residential uses.

Rising preference for smart homes will support the adoption of audio &video equipment

The audio & video equipment segment dominated more than 60% of the market share in 2022, with over 2,000 million new units sold. Proliferation of smartphones and growing preference for smart homes will augment the demand for audio & video equipment. The integration of advanced features, such as enhanced connectivity, voice assistant-enabled control and speech recognition, will impel the acceptance of audio & video equipment.

Voice assistants, such as Google Home, Siri, and Alexa, enable consumers to control their home appliances with a simple voice command. The integration of consumer electronics, such as speakers, and earphones, with voice assistant equipment, will provide a positive market outlook. In addition, product upgrades and new product launches by several consumer electronics companies to increase consumer experience are also driving the industry progression.

High focus on acquisition strategies and new product launches

Market leaders are focusing on new product launches ano mergers & acquisitions to increase their global presence and capture a high revenue share. For instance, in April 2022, Panasonic acquired Blue Yonder, an American software company, for USD 7.1 billion to improve its autonomous supply chain management by leveraging Blue Yonder's machine learning and artificial intelligence. The acquisition will strengthen Panasonic's portfolio and accelerate the company's autonomous supply chain.

Major companies operating in the market include Apple In c., Canon Inc., Dell Inc., Samsung Electronics Co.,Ltd., Panasonic Corporation, Sony Corporation, Koninklijke Philips N.V., Lenovo Inc., Oneplus, AB Electrolux, LG Corporation, Google Inc.. Microsoft Corporation, Hitachi Ltd., Robert Bosch Gmbh, Sennheiser Electronics, Siemens AG Logitech International S.A., OPPO, and ZTE Corporation. Several participants are focusing on new product launches to enhance the customer experience.

The consumer market is rapidly evolving, with new technology being released seemingly every day. Hitech Circuits knows the importance of staying on top of the latest and the greatest. Our fast and efficient design and production process makes sure our customers can always bring the most recent designs to their market.