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Consumer Electronics + Market Trend Analysis

Disruptive Trends Shaping the Consumer Electronics Market

Consumer electronics is an ever-changing and evolving market. As technological advancements continually enter the market, consumer electronics must adapt and adjust to fulfill customer wants and needs. As companies struggle to cope with this fast-paced market, industries attempt to analyze current trends and forecast coming trends in the market.   

With the arrival of smart TVs, smart speakers, and other technologies that allow for connected consumer electronics products, consumer demands have changed. Convenience and ease are of utmost importance to consumers. With fast-paced, hectic lives, the convenience of smart devices is unparalleled. While the advancements are brilliant for consumers, it raises challenges for the consumer electronics companies in the market.

It is crucial for consumer electronics companies to forecast, understand, and prepare for the ever-evolving market trends. Many companies are approaching market research firms to leverage their market trend analysis solutions. To forecast the changes in consumer behavior and market trends, and successfully stay ahead of them.

With the incorporation of augmented reality in smartphones and the development of 3D sensing cameras and AI chips, developers can build more powerful AR experiences in commonly used devices. Other innovations and trends such as these are influencing significant change in the consumer electronics market. In this article, Infiniti’s industry experts highlight the key market trends affecting the consumer electronics market.

In this fast-paced market, it is essential to understand the trends and innovations that are influencing the market growth. Speak to our experts to learn more about the key market drivers and trends.

Consumer Electronics Market Trends

In a market as fast-paced and highly demanded as the consumer electronics market, it is vital for companies always to stay a step ahead. The best way to achieve this is to be aware of the current and upcoming trends in the market, and how they influence companies and products. Therefore, our experts have listed the following three key trends in the consumer electronics market:

Smart Speakers and Displays

Convenience is essential to consumers everywhere. Be it individual consumers or businesses, smart TVs and smart speakers help conserve time, and are used by consumers of any age level or technological adeptness level. With quick access to various platforms, such as Netflix and Youtube, and connections to Amazon and Google software ecosystems, consumer demand has risen exponentially over recent years. For consumer electronics companies, this translates into prioritizing smart devices as per consumer demand.

Smart homes

With a rise in voice control functionality in various home appliances, smart homes are becoming extremely common. Amazon Alexa and Google Assistant are connected to most home appliances through wi-fi. Devices such as vacuum cleaners, printers, and even lights, can be easily controlled with these software ecosystems. Voice control is also now being integrated with smart TVs. Consumer electronics companies must aim towards creating devices and electronics that integrate with these software ecosystems and smart homes efficiently. Consumer convenience must be the primary focus of all companies, to grow successfully in this market.

Wearable Devices

As technology develops to be easy-to-use and convenient for consumers, wearable devices have become a commonality. In professional and leisure settings, wearable devices allow immediate access to various platforms and interfaces. If appropriately integrated, wearable devices can enable further access to smart homes. Wearable devices are continually evolving and developing, and consumer electronics companies must aim towards creating more appliances and electronics that integrate with this booming trend. Offering mid-tier and lower-priced devices would also help consumers and increase demand.

Consumer Electronics + Market Trend Analysis

These are the three major trends that are currently influencing the consumer electronics market. Get more information and in-depth insights into these market trends today.

The Role of Market Trend Analysis

In the consumer electronics market, trends change at a fast pace. While the trends discussed above may be crucial to the market currently, a new technological development, other advancements can improve the growth and the direction of the market majorly within months. To always stay ahead of these changes, companies must leverage market trend analysis solutions. Infiniti’s experts have detailed the following benefits of our market trend analysis solutions:

  • Identifying Current Trends: Infiniti’s research experts are equipped to provide in-depth insights on current market trends. They are also equipped to guide companies on the ideal steps to be taken, to proliferate, and increase market share and revenue. Identifying and understanding current trends is the first step towards coping with and growing in a fast-paced market.
  • Forecasting Coming Trends: Our trend analysis solutions can also help forecast trends. It allows companies to strategize and plan development, inventory, and delivery of their products. Additionally, it helps in strategizing for current products, as well as when launching new products. With new trends continually developing, companies need to ensure that they are strategically equipped for changes in demand and consumer buying behavior.
  • Staying Ahead of the Curve: Identifying and forecasting market trends is crucial to growing in a competitive industry efficiently. However, a significant competitive advantage provided by market trend analysis solutions is the ability to compare with competitors and key market players. It can also help identify the gaps and implement the necessary changes.

Market trend analysis solutions can help businesses identify, understand, forecast, and stay ahead of the trends in this market. Request a free proposal to gain an unparalleled competitive insights.

High Voltage Submarine Power Cable Market Potential Assessment Study

Business Challenge
A European power transmission company wanted to understand how to eliminate stagnation in its sales and improve its business growth in the global market.
Situation
The client wanted to assess the future market potential for its high voltage submarine power cables and was looking for strategic consulting services to reformulate its business strategies for faster growth.
Approach
We conducted a comprehensive assessment of market dynamics including demand and supply, investment pattern, value chain strategies, and benchmarking against top five competitors to assess the company’s performance against industry standards.
Impact
Based on our insights, the client gained a detailed understanding of the market dynamics and made changes in its business strategies, which propelled a considerable growth in its sales and market share.

Medium Voltage (MV) Switchgears Market Potential Analysis in North America

Business Challenge
A leading manufacturer of Automatic Transfer Switches (ATS) and Switchgears was interested in the assessment of the potential for its products in North America.
Situation
The client was looking for advisory on the market requirements, demand-supply gaps, assessing the market potential, and understanding the competitive landscape to formulate its business strategies.
Approach
We identified key market stakeholders in the region and conducted interviews and discussions with them, followed by in-depth analysis for evaluation of the market dynamics and major opportunities.
Impact
Based on our insights, the client was able to identify gaps in the market where it could position its products and secure its ‘market leader’ status and was able to develop strategies for the same.
food and beverage

Competitive Benchmarking Study on Alternator Manufacturers

Business Challenge
A leading player in power equipment manufacturing wanted Infiniti Research to conduct a competitive intelligence and benchmarking study on its major competitors.
Situation
The client wanted to evaluate and benchmark against its major competitors, to assess the future market potential for its high voltage submarine power cables, and was looking for strategic consulting on how to reformulate its business strategies for higher growth.
Approach
We conducted a comprehensive primary and secondary research for benchmarking against top five competitors, to evaluate their major pipeline and reference projects, pricing models, cost analysis, manufacturing facilities, key customers and geographies.
Impact
Based on our insights, the client gained detailed insights on the demographics and competitive environment of the alternator market in Latin America. It also gained an understanding of the market attractiveness of its product offerings.
Market Assessment

Benchmarking Study on Air Compressor Business for Compression Solutions Provider

Business Challenge
A leading compression solutions provider wanted to understand how a rapidly growing new competitor was able to provide high-quality air compressors at lower costs.
Situation
The client was concerned by a rapidly growing competitor and its high-quality air compressor products. It wanted to trace the competitor’s sourcing value chain and manufacturing capabilities to understand the difference in costs and quality.
Approach
We carried out an extensive analysis of the competitor’s ecosystem to understand its supply chain and sourcing patterns, manufacturing sites, its capacity and technology deployment and to identify the major differentiators in the competitor’s value chain.
Impact
The client was able to identify the areas where it was incurring excess costs and lagging in capacity and technology utilization. It also identified alternative supply sources and developed strategies to overhaul its manufacturing process and beat the competition.
Market Segmentation

Generator Manufacturers Benchmarking Study in Europe, Asia, and Americas

Business Challenge

A leading industrial generator and equipment company wanted to quantify the threat from its top three competitors in the regional markets of Europe, Asia, the Americas, and rest of the world (ROW).

Situation
The client was losing sales pitches to its competitors in many markets and wanted to understand how serious the threat is by analyzing and benchmarking its competitors’ financial performance and strategies to overcome the cost of poor quality (COPQ).
Approach
We conducted in-depth environmental scan and financial analysis of the competitors’ businesses to assess the financial performance, operational costs, and major causes of COPQ of their businesses and how they overcome those costs.
Impact
The client was able to discern the financial strategies of its competitors in each region to evaluate how serious the threat was and it was able to plan its own strategies to neutralize the competition.
medical device companies

AC Drives Competitive Landscape Study in Europe for a Motor and Inverter Manufacturer

Business Challenge
A leading European motor and inverter manufacturer wanted to understand the competitive landscape and its own position in the AC Drives market in the UK, Germany, and Russia.
Situation
The client wanted to understand their the competition was like in the market and evaluate their own competitive position, by analyzing the sales efforts and operational structures of their top 5 local competitors in the UK, Germany and Russia.
Approach
We dissected each competitor’s sales and operational value chain to understand the cost and pricing structure, market and sales strategies, and local distribution network to gain an understanding of their market position.
Impact
Based on our insights, the client gained a clear picture of what the competitors are offering to different customers in order to create and position its own sales pitch better and win customers over.

Customer Opinion Research in Downhole Drilling Tools Market

Business Challenge
A leading industrial tools manufacturer wanted to identify the reasons of growing customer dissatisfaction levels to enhance customer loyalty and improve loyalty sales.
Situation
The client was struggling to protect the trust of its core customers whose dissatisfaction was rapidly growing. It wanted to understand what was causing the change in perception and identify the major reasons for customer dissatisfaction.
Approach
We conducted a perception study with the core customers of the client, through in-depth interviews with 50+ customers followed by analysis and development of insights.
Impact
The client was able to identify the quality and product failure/repair issues, which were causing negative perception about its products and take strategic measures to retain its customer base.
demand management

Customer Satisfaction Study for a Fuel Handling Equipment Manufacturer

Business Challenge
A fuel handling equipment manufacturer wanted to measure the satisfaction of its customers with regard to its products and services.
Situation
The client wanted to understand if it was meeting the requirements of its customers and how satisfied its customers were to maximize customer loyalty and increase repeat business.
Approach
We conducted a ‘voice of customer’ study with the diverse customer segments of the client to understand and measure their satisfaction on parameters such as quality, availability, pricing, ease of use, service standard and after-sales support.
Impact
We helped the client understand how the changes in its service strategies were affecting customer satisfaction. The client was able to develop customer segment-specific action plans to improve satisfaction and increase repeat business.
Market Entry Strategies

Customer Intelligence Research on Electronic Sensors Market in Japan

Business Challenge
A leading electronic products manufacturer wanted to strengthen its market position by understanding the emerging needs of customers and providing a better range of products in Japan.
Situation
The client wanted to understand the current and emerging requirements of its current and potential customers before creating its annual product and customer strategy.
Approach
We conducted telephone and online surveys with the buyers and influencers in the Electronic Sensors market in Japan to understand how their needs were changing and what they expected from sellers.
Impact
Based on the customer insights, the client created an innovative marketing approach to reach customers and address their requirements and it was able to maintain its strong market position for the next fiscal year.
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