DUBLIN – Favorable demographics, rising consumer incomes, and more interconnected lifestyles are anticipated to boost the global consumer electronics industry to an estimated $1.21 trillion in 2017, with a CAGR of 5.4% between 2012 and 2017, says Research and Markets.

The industry witnessed high growth during 2010-2011 as a result of greater demand for electronics equipment, especially smartphones, continuous improvement in capabilities that reduced costs, and increased profit through bulk production, according to Lucintel.

APAC presents appreciable growth potential in the consumer electronics industry during the forecast period due to a fast-growing middle class and the availability of trained labor in China, Japan, India, Malaysia, and Singapore.