Federica Laricchia
Research expert covering the global consumer technology industry
Consumer electronics in the U.S. - statistics & facts
Working, studying, playing games, watching movies, and listening to music have never been easier, with the consumer electronics (CE) market offering a multitude of home and personal devices intended for entertainment and communication uses all around the globe, including the United States. In the country, the retail revenue from consumer electronics sales is expected to reach close to 510 billion U.S. dollars by 2024 – a year-on-year growth also sustained by the launch of innovative devices, such as XR devices and AI smartphones.
The common denominator for all these industries is the major companies ruling over the markets. As for the worldwide consumer electronics industry, the United States CE market is mostly controlled by two companies, Apple, and Samsung, with other companies holding lower shares. However, it is Apple that leads both the smartphone and tablet markets in the U.S., leaving Samsung behind.
Overall, the consumer electronics industry has been playing and will continue playing a key role in our everyday life, including the United States. Experts suggest that the industry will continue to grow in the country, with companies always working on new products catering to consumers’ needs.
Apple and Samsung lead the U.S. consumer electronics market
The consumer electronics industry can be broken down into several subsegments, including home devices, such as TVs, speakers, and gaming consoles, and personal devices, such as smartphones, PCs, and wearables. As is easily understandable, the revenues and volumes of these submarkets have had and still have different trends. For example, the revenue generated from smartphones sales in the country is forecast to increase, but the number of PC unit shipments has slightly decreased in the past couple of years.The common denominator for all these industries is the major companies ruling over the markets. As for the worldwide consumer electronics industry, the United States CE market is mostly controlled by two companies, Apple, and Samsung, with other companies holding lower shares. However, it is Apple that leads both the smartphone and tablet markets in the U.S., leaving Samsung behind.
A growing interest in smart homes
With the advancement of technology, devices that are communicative and connected with each other have started to appear more in both the global and the U.S. markets. With the increasing popularity of devices such as smart TVs, smart speakers, and smart bulbs, the U.S. has become a hotspot for smart homes, with a smart home market revenue of just under 40 billion U.S. dollars expected in 2024. Most Americans own smart home devices for entertainment purposes, including Bluetooth speakers and streaming devices. However, building a secure home and managing energy are also reasons for them to purchase such products, including connected thermostats and temperature sensors.Overall, the consumer electronics industry has been playing and will continue playing a key role in our everyday life, including the United States. Experts suggest that the industry will continue to grow in the country, with companies always working on new products catering to consumers’ needs.
