In this edition of This Week in Consulting, let us step into the dynamic realm of consumer electronics, a space where every innovation is a stride into the future, and each device tells a story of technological evolution.
Picture this: a market poised to hit a staggering $1.5 trillion by 2027, fueled not just by cutting-edge gadgets but by the ever-growing influence of social media and digital content. The narrative of consumer electronics is now intertwined with the demands of the content creators and social media aficionados, shaping the very devices we hold in our hands.
Yet, in the midst of this techno-fiesta, a pressing concern emerges – the rising tide of e-waste. At COP 28, the discussion shifted from the next big thing to responsible e-waste management — the huge environmental responsibility that tech giants are starting to acknowledge. Apple, for instance, now offers Self Repair Services, a small step in the giant leap towards sustainable tech.
Speaking of giants, let’s talk about the geopolitical stance of industry titans. The Wall Street Journal unveils the strategic moves of tech behemoths like Apple and Samsung, shifting manufacturing hubs from China to India, Vietnam, and Latin America. It’s a symphony of diversification and global supply-chain maneuvers.
And then there’s China, a powerhouse projected to generate a whopping $228.3 billion in consumer electronics revenue in 2023. What factors propel this juggernaut? We unravel the complexities and nuances driving this colossal market force.
But it’s not all about numbers and market share — I am captivated by the intricate orchestration of supply chain challenges. In this ever-shifting landscape, understanding the nuances of supply chain management becomes crucial for manufacturers seeking a competitive edge.
The world of consumer electronics is not just about devices; it’s a saga of innovation, sustainability, and strategic maneuvers. So, grab a seat, dive into the narrative, and let’s start exploring. Your thoughts? I’m eager to hear your perspective on this thrilling journey.
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we explore the dynamic realm of consumer electronics, a space where every innovation is a stride into the future, and each device tells a story of technological evolution.
Electronic waste (e-waste) poses a growing environmental threat, with 420.3 million metric tonnes produced in the last eight years. PA Consulting highlights the urgency for improved design, stricter policies, and consumer awareness. Industry leaders like Apple and ‘Erth’ are urged to drive positive change.
This week’s media
The Wall Street Journal’s video shows us how geopolitical factors are driving tech giants like Apple and Samsung to shift manufacturing from China to places like India, Vietnam, and Latin America. It also explores the strategies behind this move, focusing on diversification, specific country strategies, and broader global supply-chain shifts.
The GSMA’s Mobile Economy 2023 report emphasizes mobile technology’s transformative power, projecting a $4.8 trillion contribution to the global economy. With over 5.9 billion people connected, it delves into the industry’s impact on society, innovation, and sustainable development.
Daxue Consulting’s article emphasizes China’s global consumer electronics dominance, foreseeing advancements in smartphones, 5G, and smart homes. Collaborations target extended phone replacement cycles. Domestic brands lead in foldable smartphones. China excels in 5G and anticipates growth in PCs, drones, and smart home tech.
In the dynamic consumer electronics market, a robust digital marketing strategy is essential. This guide by Linchpinseo covers key insights and strategies, from SEO and website design to branding, PPC, social media, and analytics, helping brands navigate challenges and stay ahead in the ever-evolving industry.
In Wipro’s report, the Consumer Electronics industry faces rapid change due to innovation, social media, and sustainability. Supply Chain Management (SCM) must evolve to address challenges like collaboration, risk management, and digital content delivery. Adapting to these changes is crucial for success.
This week’s consulting news selection
Cegid, a global cloud business management solutions provider, has chosen GEP SOFTWARE for procurement digital transformation, leveraging AI-driven solutions to enhance efficiency, visibility, and supplier performance.|
In the first half of 2024, 57% of companies plan permanent hires, driven by growth, while 66% cite challenges in finding skilled professionals. Retaining talent is a top concern.|
Alvarez & Marsal appoints Andy Murray and Prasam Patel as Managing Directors, strengthening their tax advisory team with expertise in international tax, M&A, and real estate.|
EY has announced the appointment of Kevin Humpherson as a new partner to lead Pensions Investment and the Fiduciary Management Oversight (FMO) proposition within EY’s Pensions Consulting business.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.