New data from Jemlit projects that global consumer electronics sales will reach a record-breaking $1 trillion in 2025, a full year ahead of previous forecasts. This significant milestone marks a period of steady recovery and growth for an industry that has faced major setbacks in recent years.
The consumer electronics market has experienced a volatile few years, with two major downturns driven by consumers tightening their budgets amid rising costs and inflation. The industry saw a record-breaking $44 billion revenue drop in 2022, followed by another $5 billion decline in 2024. However, the market has consistently bounced back, propelled by consumer demand for the latest technology.
This resurgence is driven by two key trends: the growing number of early adopters who want new devices as soon as they are released, and a broader tech spending boom fueled by enterprise investments in AI, cloud infrastructure, and software.
Last year, Statista’s market forecast predicted the consumer electronics industry would reach $977.5 billion in 2025 and hit the trillion-dollar mark in 2026. However, a July 2025 revision to this outlook has accelerated the timeline.
The updated forecast shows that the market will reach $1 trillion this year, adding roughly $30 billion more than previously estimated, grow to $1.12 trillion by 2029, surpassing the previous projection of $1.09 trillion and increase its total sales volume by nearly 8% in the coming years, from 7.9 billion devices in 2025 to 8.5 billion by 2030.
The new market forecast suggests that cumulative consumer spending will reach unprecedented levels. Since 2020, the world has spent an estimated $5.8 trillion on consumer electronics. A significant portion of this spending, $2.9 trillion, was on smartphones alone.
Other major categories include PCs, laptops, and tablets: $1.34 trillion TVs, radios, and multimedia devices: $1.29 trillion and Gaming equipment: $185 billion
With annual spending expected to exceed $1 trillion starting this year, cumulative consumer spending is projected to hit $5.4 trillion by 2030.