The consumer electronics industry enhances people’s lives through the power of technology. Driven by the ambitions and technologies of engineers who share the dream of an advanced Malaysia, the industry has enriched society with numerous innovations and products that have improved countless lives. The rapidly evolving technology in this field helps bring progress and possibility to every corner of the country – safely delivering the tools people need, supporting homes, schools, hospitals and businesses.
This segment includes the production of various consumer electronic products such as infotainment, audio visual products, multimedia devices including media players, speaker units, amplifiers for speakers and Bluetooth devices.
The emergence of industry 4.0 has further rejuvenated the growth of new consumer products. Innovation has been the driving force that generates new demands for smarter consumer products embedding the latest technologies such as IoT (internet of things), AI (artificial intelligence), AR (augmented reality) and VR (virtual reality).
By combining world-class engineering with software and analytics, Malaysia has been producing efficient, reliable and widely-trusted consumer electronic products. As Malaysia solidifies its position as a regional E&E centre, we seek to strengthen the business landscape that will drive our long-term transformation into a fully industrialised and advanced nation.
According to Global Market Insights, growing trends of smart homes are expected to fuel the demand for advanced consumer electronics over the coming years. The market size valued at USD1 trillion in 2019 is estimated to grow at a CAGR of over 7% between 2020 and 2026. The audio and video equipment segment is expected to show significant growth, capturing over 70% of market share. Companies are encouraged to invest in R&D for development of new consumer electronic products such as smartphones, smart wearables and home appliances.
Factors increasing the growth of the global consumer electronics market:
Rise in the
A higher degree of consumer electronics sector will be heavily embedded with AI elements for a seamless consumer experience in the household. Wireless intelligence is predicted to be a top mega trend in this sub-sector, accelerated by high speed wireless data networking, smart consumer appliances, innovation to zero i.e. zero accident, zero carbon footprint and zero defects.
Malaysia consumer electronics sub-sector is rapidly driven by the growing adoption of wireless connectivity of several electronic devices. Increasing investments in R&D in consumer electronics and technology advancements, coupled with the emergency of IoT technology and growing popularity of wearable electronic devices are fueling the market in Malaysia. Seize these attractive growing opportunities in the market by locating your business in Malaysia today.