Portable Electronics Market Analysis 2020-2023, Latest Trends, and Impact Analysis

Portable electronic devices are no longer treated as luxuries but have become a necessity to people. Portable electronics are light in weight and come into smaller sizes which can easily be carried around. Portable electronics are basically handheld devices. There are various portable electronics that we use on a daily basis, and the best example for the same is smartphones. Other portable electronics include personal digital assistants, laptops, media players, gaming consoles, media players, digital cameras, navigation systems, power banks, flash drives, healthcare devices, and others. Portability is a feature that has made electronics so easy to handle and carry around.

Owing to continuous developments in the technology, portable electronics have integrated a greater number of functions into them apart from just playing the music and making calls. The smartphones today can surf the internet and display multimedia files on the go. This is due to the continuous advancements in technology.

The major factor driving the growth of the portable electronics market is its portability feature which allows users to tackle all their work and play on the go. The major trend in the portable electronics devices is the enhanced audio and video capabilities, high-performance processors and larger storage capacities packed into a smaller device. Portable devices are known to be lightweight and hence are small in size.

Mobile phones are the best examples of portable electronic devices which hold the largest market share for the portable electronics market and has been dominating the market. This is owing to the increasing smartphone users and growing smartphone applications. The portable electronic devices like media players, laptops, and gaming consoles are expected to grow at a significant rate during the forecast period. The global portable electronics market is expected to grow approximately USD 196.99 Billion by 2023, approx. 11.03% of CAGR between 2017 and 2023.

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