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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. |
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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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DUBAI, UAE, Feb. 27, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is giving Netflix fans a reason to celebrate with an exclusive cashback offer for new Bybit Card users. From Feb. 25, 2025 to Mar. 10, 2025, eligible users can enjoy 100% cashback on their next Netflix transaction simply by signing up for a Bybit Card and spending at least $100.
With Netflix’s global subscriber base surpassing 300 million as of January 2025, it remains a leading platform for entertainment enthusiasts worldwide. Bybit aims to enhance the viewing experience for its users by turning everyday spending into rewarding moments.
“Netflix is a global favorite, and we wanted to bring even more value to our users who love to relax and unwind with their favorite shows and movies. This promotion is our way of saying thank you to new Bybit Card holders and enhancing their everyday experiences,” said Joan Han, Sales and Marketing Director at Bybit.
The promotion is available across all Bybit Card programs, with the cashback capped at $10 per Netflix transaction. The offer is exclusive to new cardholders during the event period, and the $100 minimum spending requirement excludes Netflix payments or subscriptions. Cashback can also be combined with Bybit’s ongoing 10% cashback offer. Only the first 500 eligible users each day who meet the criteria will receive the cashback.
This campaign is run independently by Bybit and is not affiliated, associated, or endorsed by Netflix in any way. For more information on the event, visit the Bybit website.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, Feb. 27, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced an exhilarating new event, The Great USDC Race, giving users a chance to accelerate their USDC earnings with airdrops, APR boosters, and guaranteed wins. With a massive prize pool of 100,000 USDC, participants are set for a high-octane ride from Feb. 25, 2025, 10:00 AM UTC to Mar. 16, 2025, 10:00 AM UTC.
Joan Han, Sales and Marketing Director at Bybit, commented on the event: “The Great USDC Race is designed to energize our community and bring an exciting new dimension to crypto trading. By integrating rewarding experiences with competitive incentives, we aim to make trading more engaging and beneficial for our users. This event underscores Bybit’s commitment to enhancing user experience and driving innovation in the digital assets space.”
The Great USDC Race is designed to reward both new and existing users through three exciting events:
Event 1: New Users Shout Out – 20,000 USDC Airdrop Prize Pool
Newcomers to Bybit can jumpstart their crypto journey with a 5 USDC airdrop by making their first deposit of at least $100 and trading $100 or more in USDC-related spot pairs, excluding zero-fee pairs. This event encourages new users to experience seamless trading while earning instant rewards.
Event 2: Bybit Exclusive USDC Simple Earn Yield
To maximize passive income, Bybit offers users a 12% APR on USDC Fixed Savings, along with an additional 5 USDC APR booster exclusively for new users. This feature is designed to enhance users’ earnings while maintaining flexibility in their investment strategy.
Event 3: USDC Lucky Spin – 100% Win Rate
In an exciting twist, Bybit introduces the USDC Lucky Spin, where participants can earn lucky spin tickets by completing tasks. Each spin guarantees a win, with prizes awarded on a first-come, first-served basis. This engaging event adds a gamified experience, encouraging users to participate early and frequently.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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VICTORIA, Seychelles, Feb. 27, 2025 /PRNewswire/ — MEXC, the world’s leading cryptocurrency trading platform, announced the listing of the Ethena USDe (USDE) in the Innovation Zone and open USDE-related trading pairs. To celebrate the launch, MEXC is introducing USDe & ENA-related events for all users with a $1,000,000 reward pool.
MEXC Backs Decentralized Stable Assets with USDe Listing
Since their inception, stablecoins have played an important role in the crypto ecosystem. However, many face limitations due to dependence on centralized custodians and traditional banking infrastructure. USDe, issued by the Ethereum-based DeFi platform Ethena (ENA), addresses these challenges. It is a fully decentralized synthetic USD asset that uses delta-neutral hedging to maintain a soft peg to the U.S. dollar without the need for overcollateralization or central custody. Unlike typical stablecoins, USDe employs smart contracts to automatically open and close perpetual short positions, ensuring scalability and stability.
As a global leader in digital asset trading, MEXC’s listing of USDe and USDE-related trading pairs highlights the growing importance of decentralized stable assets in the evolving DeFi landscape. This initiative reaffirms MEXC’s commitment to supporting innovative blockchain solutions and promoting decentralized finance. By providing strong liquidity and broad market coverage, MEXC creates the ideal environment for projects like USDe to thrive and unlock new possibilities in the digital economy. MEXC also offers users the chance to participate in a $1,000,000 reward pool through four major activities. This initiative enables users to engage with cutting-edge DeFi projects, explore innovative stable assets like USDe, and actively contribute to the growth of the broader DeFi ecosystem.
Celebrate the ENA & USDe Campaign with a $1,000,000 Prize Pool
MEXC, known for quickly listing trending tokens, expands its offerings with USDe (USDE). The USDE/USDT trading market officially launched in the Innovation Zone on February 27, 2025, at 10:00 (UTC), followed by ENA/USDE, BTC/USDE, ETH/USDE, SOL/USDE, and XRP/USDE at 11:00 (UTC).
To celebrate this significant listing, MEXC has designed a series of events that cater to both new and experienced traders. Users can enjoy zero-fee trading across select USDE and ENA trading pairs, creating an optimal environment for market participants to explore these assets. USDE holders can earn attractive yields of up to 10% APR simply by holding the token, with no additional staking or locking required. Meanwhile, new users joining the ENA staking program can enjoy up to 400% APR, further maximizing their earnings. The platform is also introducing exclusive staking pools, with particularly appealing rates for new users.
Additionally, active traders can participate in trading competitions with a substantial prize pool of 300,000 USDT in Futures bonuses, rewarding various levels of trading activity. In a move to further support stablecoin adoption, MEXC has also purchased $20 million in USDe, reinforcing its commitment to expanding the stablecoin ecosystem.
Beyond Trading: Earn Passive Income on MEXC
In addition to listing a wide range of tokens and trading pairs, MEXC provides various financial products designed to help crypto holders generate passive income. Flexible and fixed-term savings plans allow deposits of supported tokens to earn interest. Flexible savings incur no lock-up period and deliver daily interest, while fixed-term savings require a set commitment but offer higher potential returns. Through these offerings, MEXC continues to expand its ecosystem, providing a multifaceted approach to digital asset growth that caters to both new and experienced market participants.
Your Easiest Way to Trending Tokens
MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 30 million by providing a diverse selection of tokens, high-frequency airdrops, and simple participation processes. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $136 million.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC
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