Electronics and Appliance Stores Global Market Report 2024

The electronics and appliance stores market size has grown strongly in recent years. It will grow from $1143.18 billion in 2023 to $1242.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The expansion observed in the historical period can be attributed to several factors, including the growth of e-commerce, the globalization of supply chains, effective marketing and branding strategies, adherence to regulatory compliance, shifts in consumer lifestyles, and the ongoing trend of urbanization and housing development.

The electronics and appliance stores market size is expected to see strong growth in the next few years. It will grow to $1657.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The forecasted growth is driven by smart home integration, sustainability practices, extended product lifecycles, trade-in programs, design focus. Emerging trends include electronics recycling, flexible payments, AI-driven recommendations, subscription services, and strategic bundling.

Electronics and appliance stores are strategically adopting robust data analytics solutions to optimize supply chain efficiency, streamline operations, engage customers, and foster loyalty. This technological integration has become pivotal in retail operations. As of July 2023, the World Economic Forum reported that 60% of corporations deem big data and analytics capabilities increasingly essential, foreseeing the creation of new jobs in the next five years. The period between 2023 and 2027 is expected to witness the creation of up to 1.4 million new jobs in data science and analytics. The growing availability of technologies to analyze retail data empowers electronics and appliance stores to discern and fulfill customer needs, thereby driving market growth.

Anticipated growth in the electronics and appliances stores market is attributed to the increasing demand for e-commerce. E-commerce, the digital buying and selling of goods and services, has become a significant driver for these stores. By showcasing product offerings online through detailed catalogs, electronics and appliance stores cater to customer preferences and convenience. For instance, recent data from the United States Census Bureau (August 2023) reveals a 7.5% increase in e-commerce estimates for the second quarter of 2023 compared to the same period in 2022. This outpaces the overall retail sales growth of 0.6%, indicating a substantial shift toward online purchases, accounting for 15.4% of all sales in the second quarter of 2023. Consequently, the rising demand for e-commerce is fueling growth in the electronics and appliances stores market.

The COVID-19 pandemic significantly restrained the electronics and appliance store market in 2020 due to disrupted supply chains, trade restrictions, and reduced consumption resulting from global lockdowns. The infectious disease, identified in Wuhan, China, led to economic downturns worldwide. Governments imposed lockdowns, impacting non-essential goods' production and trade. However, the market is expected to recover over the forecast period, considering the pandemic as a 'black swan' event, not indicative of intrinsic weaknesses in the market or the global economy.

Electronics stores are rapidly integrating technology to enhance workflow efficiency, store management, and customer services. Modern technologies such as traffic-tracking sensors, RFID tags, handheld scanners, and heat maps provide real-time insights into consumer shopping behaviors. These digital tools facilitate stock management, inventory control, accurate predictions, and demand forecasting. Global electronics and appliance stores, including Best Buy, Conn’s, Fry’s Electronics, Apple's retail operations, Fnac Darty (Belgium), GOME (China), Saturn brands (Germany), and Yamada Denki (Japan), have adopted various digital technologies to elevate the in-store shopping experience.

Major companies in the electronics and appliances stores market are implementing new environmental strategies to enhance profitability. In September 2022, Samsung Electronics Co. Ltd., a South Korea-based appliances company, introduced a comprehensive environmental strategy. The initiative aims to align with global efforts against climate change, committing to enterprise-wide net-zero carbon emissions. Additionally, Samsung plans to increase renewable energy usage, invest in research for energy-efficient products, promote water reuse, and develop carbon capture technology.

Major companies operating in the electronics and appliance stores market report are Apple Inc., Samsung Electronics Co. Ltd., Sony Group Corporation, Siemens AG, Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC), Panasonic Corporation, LG Electronics, Intel Corporation, Thermo Fisher Scientific Inc., Qualcomm Incorporated, Haier Smart Home Co. Ltd., Schneider Electric SE, SK Hynix Inc., Broadcom Inc., Micron Technology Inc., NVIDIA Corporation, Applied Materials Inc., Advanced Micro Devices Inc., ASML Holding N.V., Texas Instruments Incorporated, Western Digital Corporation, Kyocera Corporation, TE Connectivity Ltd., Corning Incorporated, Infineon Technologies AG, NXP Semiconductors N.V., Seagate Technology Holdings PLC, KLA Corporation, ON Semiconductor Corporation, Keysight Technologies Inc., STMicroelectronics N.V., Cree Inc., Marvell Technology Inc., Xilinx Inc.

Asia-Pacific was the largest region in the electronics and appliance stores market in 2023. Western Europe was the second-largest region in the electronics and appliance stores market. The regions covered in the electronics and appliance stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electronics and appliance stores market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The primary categories of electronics and appliance stores include hardware suppliers, security stores, and consumer electronics stores. Consumer electronics stores focus on selling electronic goods intended for personal use, such as mobile phones and televisions. These stores can be further categorized into exclusive retailers/showrooms and inclusive retailers/dealer stores. Exclusive retailers/showrooms are directly owned by retail chains or specific brands, providing a dedicated space to showcase their products. In contrast, inclusive retailers/dealer stores may include both franchise outlets and independent retailers, offering a mix of products from various brands.

The electronics and appliance stores market research report are one of a series of new reports that provides electronics and appliance store market statistics, including global market size, regional shares, competitors with an electronics and appliance store market share, detailed electronics and appliance store market segments, market trends and opportunities, and any further data you may need to thrive in the electronics and appliance store industry. This electronics and appliance store market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electronics and appliance store market includes revenues earned by entities by providing services through hardware suppliers, security stores, and consumer electronics stores. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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