Blockchain Press Releases
Technical Consumer Goods (TCG) Market size to grow by USD 1958.76 billion from 2022 to 2030; Higher reliance on modern technology for functional purposes to boost the market growth – Zion Market Research
NEW YORK, July 6, 2023 /PRNewswire/ — As per Zion Market Research study, the global Technical Consumer Goods (TCG) market size was worth around USD 1413.26 billion in 2022 and is predicted to grow to around USD 1958.76 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.16% between 2023 and 2030
Report Link with All Related Graphs & Charts: https://www.zionmarketresearch.com/report/technical-consumer-goods-tcg-market
Technical Consumer Goods (TCG) Market: Overview
A consumer good is also known as a final good. It is an item that is ready for sale to be used by the final consumer and does not require any more processing. It is different from an intermediate product which has to pass through additional processes to be ultimately used as per its intended application. Technical consumer goods (TCG) are a part of the broader consumer goods segment since these items are powered by energy and technology plays a crucial role in determining the functional aspects of TCG, unlike other non-technical products such as a bicycle or food products. The companies operating in the TCG sector deal with constant technological evolution and hence tend to be more high-tech. During the forecast period, the companies providing such products may register steady growth.
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Key Industry Insights & Findings of the Technical Consumer Goods (TCG) Market Reports:
- As per the analysis, the Technical Consumer Goods (TCG) market is likely to grow above a CAGR of around 4.16% between 2023 and 2030.
- The Technical Consumer Goods (TCG) market size was worth around US$ 1413.26 billion in 2022 and is estimated to hit approximately US$ 1958.76 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The technical consumer goods market is projected to grow at a significant rate due to the higher reliance on modern technology for functional purposes
- Based on product segmentation, telecom was predicted to show maximum market share in the year 2022
- Based on end-user segmentation, personal was the leading user in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
Zion Market Research published the latest report titled ” Technical Consumer Goods (TCG) Market By Product (Telecom, Home Equipment, Consumer Appliances, Information Technology & Equipment, And Others), By End-User (Business-Oriented And Personal), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” into their research database.
Market Dynamics:
Technical Consumer Goods (TCG) Market: Growth Drivers
The global technical consumer goods (TCG) market is projected to grow owing to the rising applications of these products ranging from personal level to professional level. The expansion trajectory is further led by the rising investments directed toward product innovation, feature upgrades, and product diversification. For instance, until the last decade, smartphones were considered highly exclusive. However, as of 2023, these advanced TCG items are available across price ranges and cater to the needs of diverse consumer groups.
Furthermore, rising initiatives by regional governments to attract international players while also promoting domestic businesses could be beneficial in higher supply and subsequent consumption of technical consumer goods such as laptops, video games, home security systems, and other items. A 2021 report by the Economic Times pointed out that India’s foreign direct investment (FDI) in the technology sector between April and September 2020 grew by 336%. Other factors such as increasing job opportunities, rising employment rate, and strengthening of purchasing power are important for the TCG manufacturers since it allows consumers to spend on items that may not be an absolute necessity but a long-awaited want.
Technical Consumer Goods (TCG) Market: Restraints
The global technical consumer goods industry may register growth limitations due to the overall economic slowdown period which is currently in its initial phase resulting in people becoming more cost-conscious. Moreover, the rapid rate of technical innovation, in certain instances, may work against the market due to the availability of multiple options leading to confusion and indecisiveness in the consumer segment.
Technical Consumer Goods (TCG) Market: Opportunities & Challenges
The increasing adoption of smart home systems would provide higher growth opportunities whereas the rising sale of counterfeit or low-quality products is a major challenge for businesses.
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Global Technical Consumer Goods (TCG) Market: Segmentation
The global technical consumer goods (TCG) market is segmented based on product, end-user, and region.
Based on product, the global market segments are telecom, home equipment, consumer appliances, information technology & equipment, and others. The TCG sector registered the highest growth in the telecom segment. It deals with devices and systems used for communication purposes and includes smartphones, feature phones, landline phones, routers, and related accessories. In recent times, telecom products have witnessed massive growth and demand led by increased sales of smartphones along with rising undertakings by network service providers to launch new technologies and systems that aid better connectivity. This segment is not specific to a single user type since it is crucial for companies, individuals, businesses, government sectors, and private companies. In 2022, the global telecom industry was worth more than USD 1.8 trillion.
Based on the end-user, the technical consumer goods industry divisions are business-oriented and personal. The highest CAGR was observed in the personal segment in 2022 due to the higher consumption of several technical consumer goods that are used in residential settings or for personal purposes. For instance, products such as laundry machines, microwaves, home security systems, audio devices, gaming consoles, and other products are used by individuals to improve their quality of living and include factors such as convenience, safety, and entertainment. Business-oriented TCG items are more restricted in terms of range when compared to their counterparts. With the growing purchasing power of individuals and the rising adoption of technical systems for everyday activities, the personal segment is expected to continue its growth streak. As of July 2022, PS2 has become the world’s best-selling video game with sales worth more than 158 million units.
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Competitive Players
The report contains qualitative and quantitative research on the global technical consumer goods (TCG) market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness.
Some of the main players in the global technical consumer goods (TCG) market include;
- Apple Inc.
- Samsung Electronics Co. Ltd.
- Sony Corporation
- LG Electronics Inc.
- Panasonic Corporation
- Huawei Technologies Co. Ltd.
- Xiaomi Corporation
- Microsoft Corporation
- Lenovo Group Limited
- Dell Technologies Inc.
- HP Inc.
- Canon Inc.
- Nikon Corporation
- GoPro Inc.
- Fitbit Inc.
- Garmin Ltd.
- Sonos Inc.
- Bose Corporation, and others.
Key questions answered in this report:
- What is the growth rate forecast and market size for Technical Consumer Goods (TCG) Market?
- What are the key driving factors propelling the Technical Consumer Goods (TCG) Market forward?
- What are the most important companies in the Technical Consumer Goods (TCG) Market Industry?
- What segments does the Technical Consumer Goods (TCG) Market cover?
- How can I receive a free copy of the Technical Consumer Goods (TCG) Market sample report and company profiles?
Report Scope:
|
Report Attribute |
Report Details |
|
Market Size in 2022 |
USD 1413.26 Billion |
|
Market Forecast in 2030 |
USD 1958.76 Billion |
|
Growth Rate |
CAGR of 4.16% |
|
Base Year |
2022 |
|
Forecast Years |
2023- 2030 |
|
Key Companies Covered |
Apple Inc., Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics Inc., Panasonic Corporation, Huawei Technologies Co. Ltd., Xiaomi Corporation, Microsoft Corporation, Lenovo Group Limited, Dell Technologies Inc., HP Inc., Canon Inc., Nikon Corporation, GoPro Inc., Fitbit Inc., Garmin Ltd., Sonos Inc., Bose Corporation, Philips Electronics N.V., TCL Technology Group Corporation, Sharp Corporation, Haier Group Corporation, Whirlpool Corporation, Electrolux AB, and Miele & Cie. KG. |
|
Segments Covered |
By Product, By End-User, and By Region |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
|
Customization Scope |
Avail customized purchase options to meet your exact research needs. |
Request Brochure of the Global Technical Consumer Goods (TCG) Market @ https://www.zionmarketresearch.com/requestbrochure/technical-consumer-goods-tcg-market
Recent Developments:
- In March 2023, Google announced that the company will roll out its Google Play Games for PC Service in the European and Japanese markets. They also mentioned adding new tools and titles for game developers
- In February 2023, Clikon, a fast-growing supplier of electronics and home appliance products, launched a new range of stylish and highly functional microwave ovens called Retro. The product not only simplifies reheating but also speeds up the process
- In October 2022, India witnessed the launch of new series of LG microwaves called LG Charcoal Microwave
Regional Analysis:
The global technical consumer goods (TCG) market is expected to be dominated by North America during the forecast period due to the presence of key players in the United States region and the growing projects undertaken by them to sustain their dominance in the technical field. Furthermore, favorable government policies, growing per capita income, and high purchasing power are additional factors impacting regional growth trajectory.
Asia-Pacific is projected to register considerable revenue mainly driven by rising population along with growing demand for technical consumer goods. Increasing adoption of digital systems in the education sector may also play a crucial role in determining future growth trajectory along with surging numbers of new product launches and innovations. The international market is targeting Asia-Pacific for the sale of TCG keeping in view the growing potential of regional countries.
Global Technical Consumer Goods (TCG) Market is segmented as follows:
By Product Outlook (2023-2030)
- Telecom
- Home Equipment
- Consumer Appliances
- Information Technology & Equipment
- Others
By End-User Outlook (2023-2030)
- Business-Oriented
- Personal
By Region Outlook (2023-2030)
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Blockchain Press Releases
Africa Exclusive: Bybit Promotes Crypto Education with P2P Security Webinar
DUBAI, UAE, Nov. 22, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, sets out to raise awareness of P2P security and to equip users with the latest anti-fraud knowledge and tools in a new learn and earn event exclusively for users in Africa. Hosting a P2P security Webinar on Nov. 25, Bybit P2P will also be announcing a prize pool valued at 10,000 USDT for a new Africa-exclusive deposit event.
P2P Security Webinar
On Nov. 25, the live webinar on P2P security will be broadcast in the Bybit Africa Telegram group from 7 to 9PM UTC. Attendees may benefit from a comprehensive session on tips and the latest know-how on asset safety and counterparty risks. The free webinar will cover the following topics:
- Fraud detection: users will learn about signs of common scams and steps to verify payment authenticity.
- Staying safe with Bybit P2P: users get to discover Bybit’s security tools and the latest features to combat fraudulent attempts.
- Trading with confidence: users will gain practical advice and practical tips on how to trade safely.
The floor will be open for a live Q&A session after the sharing by Bybit P2P experts. Ahead of the webinar, attendees are invited to submit questions and the lucky ones will win 10 USDT if their questions are chosen by the speakers.
10,000 USDT Rewards for First-Time Deposits
From Nov. 25 to Dec. 15, 2024, new users who successfully sign up for a Bybit account and complete Identity Verification Level 1 may be eligible to share in a 10,000 USDT prize pool reserved for eligible users in Africa only. Users must sign up for the event and make a deposit via Bybit P2P to qualify and win up to 10 USDT, terms and conditions apply.
“Financial fraud is an age-old challenge and users must stay vigilant as scammers and fraudsters evolve. Bybit is constantly investing in our hardware and software to build the necessary guardrails for our platform. It does not take away the importance of user education, however, and we hope through engagements of this kind, we can help elevate the community on a path of growth,” said Joan Han, Sales and Marketing Director at Bybit.
P2P is an organic part of the crypto economy and helps to promote inclusivity in emerging economies. With Bybit P2P, users of all levels may access the user-friendly peer-to-peer trading platform to trade between themselves at an optimal, agreed-upon price. The service minimizes the need for the middleman, improving cost effectiveness while providing exchange-backed platform security.
Find out more about the event and eligibility at Bybit P2P.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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SINGAPORE, Nov. 22, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a pioneer in digital payment solutions, and Polygon Labs, a software development company building the leading network of aggregated blockchains via the AggLayer, today announced their strategic collaboration aimed at unlocking the full potential of digital finance, focusing on the expansion and adoption of WUSD, WSPN’s flagship stablecoin.
WSPN has integrated Polygon PoS into its WUSD network infrastructure earlier this year. Now, this collaboration will focus on rapidly expanding WUSD adoption. Polygon Labs’s crucial liquidity support will be instrumental in bolstering WUSD’s mass adoption across various markets.
This collaboration will unlock opportunities to explore a range of innovative use cases for stablecoins, payments, and DeFi. Key areas of focus include facilitating payments and tokenization solutions for companies operating in Hong Kong SAR and Singapore, developing on-chain green finance projects tailored for African clients, and building robust DeFi platforms that leverage the strengths of both WSPN and Polygon technologies. These initiatives are strategically designed to address diverse market needs and drive the adoption of WUSD across a variety of regions and sectors.
By combining WSPN’s expertise in stablecoin solutions with Polygon’s advanced blockchain infrastructure, this collaboration will drive significant advancements in the digital asset space, particularly in emerging markets and the rapidly evolving DeFi sector.
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
About Polygon Labs
Polygon Labs is a software development company building and developing a network of aggregated blockchains via the AggLayer, secured by Ethereum. As public infrastructure, the AggLayer will bring together user bases and liquidity for any connected chain, and leverage Ethereum as a settlement layer. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols and tools for launching blockchains, including Polygon PoS, Polygon zkEVM, and Polygon Miden, which is in development, as well as Polygon CDK.
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DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to reaffirm its commitment to providing ease of access to digital assets for eligible P2P users in Africa at zero fee. Connecting buyers and sellers at no cost, Bybit P2P continues to be the benchmark for cost-effective and convenient trading experiences.
Since its launch in Jan. 2022, Bybit P2P has consistently provided a user-friendly platform for users seeking a safer way to participate in the digital asset class. The services are offered at no costs for merchants and takers in P2P transactions:
- Merchants: Merchants may post advertisements on Bybit P2P for free.
- Takers: Users may place an order through advertisements listed on the P2P platform at no costs. The offer stands across all fiat trading pairs. Third-party fees may incur depending on the payment method chosen, as the payment providers may charge a transaction fee.
P2P Fee Structure (Africa)
|
Taker Fee (Sell Page) |
Maker Fee (Sell Page) |
|
|
Bybit |
0 % |
0 % |
|
Competitor B |
0.5% on completed orders for certain trading pairs |
0 % |
In addition, Bybit has launched an exciting P2P Coupon Giveaway Campaign from now to Jan. 15, 2025. As part of this initiative, users can earn a share of up to 20,000 USDT in rewards by completing tasks such as depositing $100 or trading $50,000 through Bybit P2P. The rewards will be in the form of Bybit P2P coupons to be redeemed in the next purchase, making the zero-fee transactions an even better deal for winners.
“Bybit’s steadfast commitment to contributing to financial inclusion comes in all forms, and keeping our P2P services free for as long as we can, and for as many users as possible, is one of the ways to support the crypto community,” said Joan Han, Sales and Marketing Director at Bybit. “When users come to our platform with the hopes of generating income on their assets, we want to play a supportive role in helping them reach their personal financial goals,” she added.
P2P on Bybit offers an intuitive and cost-effective peer-to-peer trading platform, facilitating the buying and selling of two users’ holdings at an optimal, agreed-upon price between them. With Bybit P2P, users stand to benefit from Bybit’s enterprise-level security and advanced features including comprehensive built-in KYC and KYB verification mechanisms, rigorous asset management protocols, and 24/7 customer service.
Find out more about the event and eligibility at Bybit P2P.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-waives-p2p-transaction-fees-for-users-in-africa-302313124.html
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