WIRED FOR GROWTH

Fast-charging toward $150 billion, the consumer electronics market is getting smarter, sleeker, and proudly self-made

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India’s consumer electronics market is surging towards the $100 billion mark.

According to International Market Analysis Research & Consulting Group (IMARC), the market reached $83.7 billion in 2024, and is projected to expand to $152.6 billion by 2033, growing at a robust CAGR of 6.9%.

Despite global economic headwinds, industry bodies estimate a 10%-15% growth in value for appliances and consumer electronics in 2025 - driven by rising incomes, rapid urbanization, and increasing demand for premium products. This growth is broad-based across categories such as smartphones, home appliances, wearables, TVs, and more.

According to the IMARC report, the sector’s momentum is driven by rising disposable incomes, growing internet penetration, a tech-savvy youth population, and an expanding middle class. Additionally, increasing demand for smartphones, wearables, and smart home appliances, along with supportive government initiatives, the rise of e-commerce, and advancements in technologies such as 5G and Al, are further propelling the market forward.

INDIA CONSUMER ELECTRONICS MARKET TRENDS

India’s hiring activity rose 31% in December '24, driven by the consumer electronics, manufacturing, and construction and engineering sectors, according to a recent report.

Smart Home Device Adoption

Smart home devices are witnessing a strong demand in India, led by rising awareness around smart living and the growing adoption of Internet-of-Things (IoT) technology. This trend is particularly prominent in urban, while rural regions are also catching up.

The smart home environment is expanding with increasing demand for products such as smart speakers, thermostats, security cameras, lighting systems, and voice assistants. Key factors driving this trend include remote-control convenience, energy efficiency, and enhanced security.