Luxury portable consumer electronics are cell phones, Smartphone's, tablets and laptops that can be operated on batteries. The factors affecting the luxury portable consumer electronics are the quality, detail and innovation of the packaging that are very crucial for commercial success of the products. The international competitors in the luxury wearable brand are Fitbit, Xiaomi , Apple, Garmin, Samsung and BBK. The luxury portable consumer electronics are mobiles, tablets, notebooks, and other smart devices. The factors involved in driving the luxury portable consumer electronics market are the increase in the number of smart devices, high capacity requirement of electronic devices, and evolution of different battery technologies. Luxury portable consumer electronics saw current value growth of 1% in 2016. This category remains negligible relative to the overall size of the luxury goods in the US. By category, current value sales of luxury mobile phones declined by 3% to USD11 million in 2016. Consumers do not look for luxury brands of mobile phones but inexpensive mobile phones that feature advanced functionality and usability.
The major competitors in luxury portable consumer electronics are Nokia Corporation, Motorola, Inc., Samsung, Sony Corporation, Apple Computer, Hewlett-Packard Company, Toshiba Corporation, Dell Inc., Research In Motion Limited, Palm, Inc., Eastman Kodak Company, Garmin Ltd., TomTom N.V. and Pioneer Corporation. The major competitors for the man-portable military electronics market are Exelis Inc., FLIR Systems, Inc., Harris Corporation, SAAB Group, General Dynamics Corporation, Thales Group, Rockwell Collins, Inc., Safran S.A., ASELSAN Inc., FinmeccanicaS .p.A., AeroVironment, Inc., Sierra Nevada Corporation, Codan Limited, L-3 Communications Holdings, Inc., and Elbit Systems Ltd.
According to the market research report "Luxury Portable Consumer Electronics in the US", under the category of toys and games, AV/VR headsets were launched signifying the growth of wireless speakers. The US homes are becoming more familiar with the wireless speakers and this advanced technology resulted in a strong growth. Wireless speakers resemble the future of luxury portable consumer electronics and the integrated Bluetooth and Wi-Fi functions are embedded into other models. In wireless speakers, Apple Inc., and ZTE USA Inc are the major competitor in the US under the luxury portable consumer electronics category. There is a steady growth in the wireless speakers and wearable electronics market compared to the stagnated growth in the smartphones and tablets market.
The growth of the portable media players was obstructed with the invention of luxury portable multifunction devices. About 90% of the Americans possess a cell phone, computer, MP3 player, game console, e-book reader or tablet computer. Out of this, 80% own a smartphone, making it the most wanted and popular gadget abandoning the landline phone connections.
The luxury portable consumer electronics in United States also includes portable medical electronic products. The portable medical electronic devices are respiratory products, heart monitors, pulse oximeter, blood pressure monitors, medical imaging and others. The top competitors are CareFusion Corporation, Abbott Laboratories, GE Healthcare, Medtronic, Inc., Roche Diagnostics, Panasonic, Philips Healthcare, and Siemens Healthcare.
Most popular consumer electronics in US are personal computers, TV sets, game consoles, tablets, smartphones, portable music players, navigation devices, digital cameras, audio or video recorders, DVD players, along with the emerging product such as e-readers, wearables or 3D printers. The latest consumer electronics combines the functions of multiple devices, such as a smartphone with camera, clock and MP3 functions and many more. The latest electronics trend is towards the connected devices and telemetric all a part of the Internet of Things phenomenon.
It was observed that the portable consumer electronic devices market has experienced swift growth in the past years. The luxury portable consumer electronics has witnessed both horizontal and vertical growth at a rapid pace. The largest consumer electronics market in the world is the United States with a massive growth and will witness a rapid growth in the coming years.
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