KUALA LUMPUR, Sept 6 (Bernama) -- Wearable electronics retail sales value is projected to grow by 138 per cent to US$45 billion (US$1.00=RM4.07) in 2021 on the back of burgeoning demand, according to Euromonitor International.
In a statement Tuesday, the global business intelligence and strategic market analysis said wearable electronics will remain as the world's second best-selling product behind smartphones.
"New products like smart wearable and wireless speakers and innovations like ultra-high-definition and convertible laptops resonate with the shift in consumer preferences.
"These products command higher retail selling prices, helping boost profit margins of manufacturers and retailers," Euromonitor International, Consumer Electronics Head, Wee Teck Loo said.
Meanwhile, he said emerging markets like India and Indonesia provide plenty of untapped opportunity for smartphones due to the huge pool of feature phone upgrades.
"Indonesia is projected to overtake Brazil and Mexico as the fourth largest smartphone market reaching almost US$1 billion dollar sales in 2020," he said.
Wee said the top-10 smartphone markets in 2021 were China, India, the United States, Indonesia, Brazil, Russia, Mexico, Japan, Philippines and the United Kingdom.
Among key consumer electronics trends through 2021 are wireless speakers, portable computers, liquid-crystal-display television (LCD TV).
-- BERNAMA
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