The world of Consumer Electronics is booming. It seems like new companies are joining the race for the best gadgets on the market every day. And you know what? It is working out well for them.
If today’s society is becoming more digital, why would anyone not need a digital device? But unfortunately, the answer is they don’t.
One big issues that consumers face is the availability of so many different products. Most of them are from companies like Sony, Samsung, and Apple. There is also a wide variety of features and options for each product offered to stores. For example, smartphones can hold up to a million songs in their built-in memory. Also, tablets have the capability of running many applications at once. It can be challenging for consumers to know which one they should get. Again, there are many different options.
The History of Consumer Electronics Companies
The history of consumer electronics companies is both a long and complicated one. Several big firms in the industry have made their mark in different decades and years.
These firms have become significant players in the global consumer electronics industry. We attribute this to their unique innovations and influential nature.
Some of these firms have become a household name. Others are lesser-known companies that have provided a unique service for other companies.
Each of these firms has played an essential role in shaping the industry as we know it today. They allow consumers worldwide to access high-quality electronics at affordable prices.
Some of the major firms in the industry today include Sony Corporation, Apple, and Dell. All three of these companies have risen to prominence over time. However, Sony Corporation has led the way with existence since 1946 in the US.
These companies have innovated at a rapid pace over time. This allows them to emerge as industry leaders with sought-after brands worldwide.
More than 100 million devices powered by Sony products are in use throughout the world today. While Apple and Dell also have many products in high demand.
Sony Corporation has introduced several revolutionary innovations in its 63 years of existence. As a result, apple and Dell have become leading manufacturers and distributors of electronics today.
Top 10 Consumer Electronics Companies in the World
What makes a company successful in consumer electronics? The answer may seem obvious, but it’s not always as simple as you might think. It takes more than one type of skill to build a successful consumer electronics company. They are no doubt skilled in Software Development and Technology. But what about their Marketing and Operation? These are crucial components to have a well-functioning business.
The following is a list of the top 10 companies in consumer electronics. It will be interesting to see how they rank next year and where they will be five years from now.
1) Apple
Without a doubt, Apple is dominating the market for Consumer Electronics. Their products are innovative, stylish, and attract consumers. But you should note that their success is not a recent phenomenon. Apple has been making computers since 1977. Their first computer was the Apple 1. It was a hobbyist product sold to computer hobbyists who built their computers. But then something changed. In 1984 Apple released the Macintosh. It was the first successful mass-produced computer with a graphical user interface.
The Mac was innovative and offered user-friendliness and ease of use. It had been lacking these features in other personal computers at the time. Apple advertised their new Mac with the memorable 1984 Super Bowl commercial. The commercial was successful in that it introduced the Mac to the public. It generated enough interest in people to want to try out this new computer. As a result, the Mac became successful. This caused Apple’s sales to grow from $775 million in 1983 to $3.19 billion in four years.
Apple has reinvented itself many times. It adapted its products to fit market demands and consumer needs. As a result, their products are always ahead of their time with innovative designs. This keeps consumers looking for more from them. Moreover, apple is showing no signs of slowing down.
2) Microsoft Corporation
Microsoft Corporation is one of the big names in Consumer Electronics. They have already made a name for themselves in operating systems and software. But they are also branching into other fields to stay competitive. Their most well-known and successful product is Windows. It is an operating system that functions on a computer with software designed to work with them. Even though they designed their Operating System more for their personal computers. Further, they were so successful that they embraced all other kinds of computers. This allowed them to expand their market.
They remained more focused on their computer market until 1997. This was when they researched the possibility of making a game console. As a result, they developed and released the successful Xbox 360 in 2005. After that, Microsoft took on a new range of products. This includes a learning device for children called Kinect and the Microsoft Surface.
Microsoft is continuing to expand into other industries. For example, they are expanding into various fields of Consumer Electronics. They are also branching out into other areas to serve their customers better. As a result, the equipment they create becomes more advanced. This is because they provide innovation across the board.
3) Samsung Electronics
Samsung Electronics is the largest electronics company in South Korea. It has been producing several successful products. Examples include home appliances, mobile phones, computers, and televisions. Their success lies within their ability to innovate. For example, Samsung is one of the top three TV manufacturers globally. It has proven successful in manufacturing and research, and development.
They focused on creating pleasing products and on creating friendly products. Samsung Electronics hire top designers to develop amazing-looking devices. These devices grab consumers’ attention. Their unique designs and wow factor make them stand out from their competitors. This emphasizes electronics than design.
Their success is their ability to maintain a good relationship with their customers. As a result, they started the Samsung 5 Year Warranty program. It extended the warranty period on its products to five years. This is longer than any other electrical device manufacturer has offered. This decision depended on creating a better relationship between them and their customers. As a result, it increased sales and market share.
Samsung Electronics has also proven to be very successful in marketing its products. They do it in areas where other electronics companies have struggled. Also, they made the bold move of entering Western markets to expand their business. This is an accomplishment that most international companies cannot achieve.
4. Intel Corporation
The Intel Corporation comes out as multinational semiconductor chip maker in America. Santa Clara in California is their headquarters. It is among the largest semiconductor chip manufacturers in the world and highest valued when it comes to revenue. Additionally, Intel makes network interface controllers (NICs), motherboard chipsets, integrated circuits (ICs), and flash memory. But it is Intel flash memory subsidiary. The company’s name originated from the fact that it has intelligence inside. Its design between the IEEE logo and the numeral 5 looks like a smiley face.
Intel is moving into Consumer Electronics through their Intel Smart Connect product. This product enables laptops and netbooks to connect with household devices. It provides mobile devices with the ability to attach themselves to a computer using a USB cable. This allows one computer to do all the necessary computing. The key feature of this product is that it will do so through any wired or wireless connection.
Intel has also continued its aggressive marketing plan. They intend to increase their market share in Consumer Electronics. In 2012, Intel released an advertising campaign dubbed Innovation That Matters. It focused on using technology to improve lives and neglected technology misuse.
5. Huawei
The success of Huawei in this division relies on its ability to keep ahead of the competition. They use cutting-edge new technologies. For example, it allows consumers to have wireless access throughout their homes or offices. They also create products that will last, if possible, to keep consumers coming back for more. Also, they are partnering with other companies to provide their Operating systems.
Their main goal is to push wireless technology forward by developing products. This will enable consumers to have wireless access throughout their homes or offices. As a result, Huawei has managed to branch out into the corporate market. It provides innovative products for businesses that want to connect.
6. Sony Corporation
Sony Corporation is a Japanese multinational conglomerate corporation based in Japan. It is one of the leading manufacturers of electronics, gaming, and services. Sony has also created innovative products that consumers want to buy. Sony started as a small business. They had a few people working together. With time, they became one of the largest consumer electronics companies. This is because they were able to create innovative products. They kept up with the latest market trends and kept consumers coming back for more.
Sony has made its way into the industry by partnering with other companies. With the partnership, they make PlayStation 3 games for them. This is a big step taken by a company that has never been in the gaming industry. They have also developed their line of TVs, DVD recorders, and DVD players sold worldwide. This shows success for Sony in its ability to expand into different markets.
Sony’s most recent innovations include the PS Move, PS Eye, and PS Vita. Their PlayStation Move game controller released on September 19, 2010. It has captured users’ attention across the globe. This allows users to control games through motion sensors rather than buttons. In addition, it makes their movements more realistic in games.
7. IBM
IBM made its way into the electronic business market by developing hardware. They also sell hardware and software products that consumers worldwide use. Their primary focus is to provide better technologies for business users worldwide. IBM is a technology pioneer who developed the first commercial computer. The IBM PC became one of the most successful computer models in history. IBM made it into the Consumer Electronics market by improving their customer relationships. They also provide innovation and new products that will appeal to consumers.
##
IBM has also made its way into several other sectors. Examples include retail, healthcare, education, and government. They do this by providing innovative technologies that benefit these industries. One of their most recent innovations includes IBM Watson. IBM Research tried to solve human problems through natural language processing. They have also developed a supercomputer to beat chess champion Garry Kasparov. Also, IBM has succeeded by providing innovative technologies using cutting edge technology.
8. Sony Ericsson
Sony Ericsson’s primary focus is to provide consumers with electronic products. They aim to keep up with the latest technological advances. So, they have managed to branch out into other markets such as gaming and mobile phones. Here, their experience in electronics production will benefit them in the future. For example, they have pushed the boundaries of mobile phone technology. They were among the first companies to provide 3G phones. They also produce some of the most popular gaming cell phones available today.
Sony Ericsson is branching out into different markets such as automotive and industrial. Their primary focus has remained the same for many years. They intend to provide innovative products that will benefit users around the globe. Sony Ericsson is using its leadership position to get into new markets.
9. Panasonic
Panasonic has been developing innovative technologies for a century. As a result, they are one of the most innovative companies globally. This is because they have pushed the boundaries of technology. Also, Panasonic focused on providing innovative products to consumers around the globe. As a result, they have developed various products that people can use in their homes and offices.
Panasonic has also created several different industries with its innovations. They make critical contributions to the energy industry and automotive industry. Panasonic’s most recent innovation is television screens based on organic light-emitting diodes. They have become trendy in consumer electronics that are out in both large and small TVs. Panasonic has been able to keep up with the latest market trends. As a result, they provide products that consumers want to buy.
10. HTC Corporation
This innovative company has taken on the challenge of research and development. They produce innovative products to meet specific consumer needs. As a result, they have made their way into the consumer electronics market. They create unique products that will appeal to an array of consumers. Their success is because they are adopting technology currently used by customers. As a result, there is a huge demand for better quality products at lower prices.
HTC is manufacturing and innovative products. They include smartphones, media players, and tablets for use with mobile broadband networks. This keeps their customers happy with their experience using HTC products.
HTC has also established a position by partnering with Google. They intend to provide mobile devices based on Google’s Android operating system. Their partnership with Google has allowed them to remain at the top of the market.
Themes disrupting the consumer electronics industry
This industry is quite an interesting one. With a lot going on and new technologies coming, getting lost in the latest advancements is easy.
The consumer electronics industry is in a constant state of evolution and revolution. Devoid any new ideas, the industry would be dull without all these improvements. The most notable trend over the past few years is the rapid growth of smart appliances. We can attribute this to the increasing connectedness of homes. Unfortunately, this leaves us with more stuff than we know what to do with.
3D Printing
Another trend boosting the consumer electronics industry is 3D printing. It is a process of making physical objects by printing thin cross-sections in layers. As a result, one can now print almost any shape they desire, including toys and chocolate!
As these printers become more affordable, they will assist in mass production. Examples include automobile manufacturing and jewelry. As a result, they will revolutionize the world of manufacturing as we know it. This gives consumers more choice over products that before could be handmade.
Geopolitics
The importance of these economic factors has been evident in the past few years. For example, the US economy is one of the strongest around. But its growth rate has recently been much slower than what it used to be at the turn of the century. This has prompted companies alike to search for fresh opportunities in other markets. For example, they are exploring China and India. This is because these countries have experienced economic growth over time.
Conversational platforms
Consumers are becoming more involved in social media. Companies like Facebook and Twitter have emerged. They provide them with better communication ways. They can now even provide positive feedback about products and services. This will encourage future sales. Also, Apple has recently released Siri as a voice interface for its popular iPhone 4S. This allows users to speak with the device using natural language commands. Before, it was only available on search engines such as Google.
Artificial intelligence
It provides solutions to many tasks that robots cannot perform. As a result, this technology is a significant trend. It is a vital tool in medical and defense contexts.
A simple example is a robot designed for the home. We can program it to clean floors and empty waste bins on its own. Similar solutions are coming to manufacturing environments and airport security checkpoints. The robotic solutions could detect if an object left unattended is dangerous or not.
Internet of things
The Internet of things or the Internet of Everything is a concept developed in recent years. It works through cloud computing and mobile devices. Consumers can now use their smartphones to control household appliances. This technology also allows them to connect on social networks. It provides an opportunity for brands to gain more insights from their customers.
Consumerism and new markets
Consumerism is a term used to describe a pattern of buying behavior. Here, individuals tend to buy more goods and services than they need. As a result, marketers are increasing the number of products they sell to consumers. In addition, they are targeting those more comfortable with technology, such as the Baby Boomers. As these consumers continue to age, their buying habits are also likely to change over time. This encourages new companies to enter the industry to serve them better.
Virtual & Augmented reality
Marketers are using both technologies to provide more exciting promotional campaigns for brands. Such include 3D and 4D experiences for moviegoers.
For example, it is already possible to order food and products delivered through an AR app. The experience has the same feeling as seeing a real house. Although the image is not real, one can hear and see characters acting around you.
Augmented reality and virtual reality are part of the main display market. For instance, they attract consumers outside stores. They also use it for advertising at specific locations within them.
Ecosystems
The most common ecosystems in the consumer electronics industry are mobile phones. Here, each component forms an important role. For example, the phone’s operating system is the interface. It enables people to use the device by using touchscreens or virtual keyboards. Other ecosystems include home automation products. They have such as smart TVs and other devices that connect offline. In addition, they use different communication networks such as Wi-Fi, Bluetooth, or RFID.
Automated home
An automated home uses machines to perform tasks around the house. Enterprises have used it to reduce costs. But they maintain the same quality control over their products or services.
These systems are helpful in video surveillance and security areas. They can detect problems. They also provide solutions by engaging with users.
Internet TV
This TV service allows users to browse different channels and watch videos online. It is an alternative to traditional television viewing. This usually offers bars of information divided into different categories.
The main advantages of Internet TV over traditional media are:
- Presence of hundreds or even thousands of channels that we can view at any time
- Possibility to search through keywords to specific subjects to find new shows
Robotics
Robotics is a branch of technology related to the design and manufacturing of robots. They are programmable machines that we can use for various tasks.
As before mentioned, we also use robotics in businesses. They perform tasks usually done by humans, reducing costs by cutting employment numbers.
The consumer electronics industry has recently embraced robotics. They use domestic robots such as Roomba, a vacuum cleaner developed. These are devices designed for people who do not have time to clean their homes themselves. Also, these robots have become popular in adjacent marketplaces. For example, the US and China, where we see benefits in time, labor, and cost savings.
Conclusion
The consumer electronics market is a growing industry. It continues to grow by leaps and bounds. As a result, more and more people demand high-quality technology products.
This is an industry that has seen the emergence of many firms over time. Many of them are becoming household names worldwide due to their superior products.
The consumer electronics industry has a long and complex history. Many influential forces have shaped over the years. But these firms and individuals are among the pioneers. They have contributed much to shaping the world as we know it today.
The success of these firms is because they have innovated at a rapid pace over time. This allows them to emerge as leaders with sought-after brands around the world.
Also, these companies have made valuable contributions to their respective industries. This is because they have been around for a long time.
