The number of consumer electronics enterprises in the UK is projected to decline consistently from 428 in 2024 to 383 by 2028. This represents a year-on-year decrease of approximately 2.8% in 2025, 2.6% in 2026, 2.7% in 2027, and 2.8% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 indicates a negative trend, reflecting diminishing market presence over these years. In 2023, the actual number of enterprises was slightly higher, setting the stage for the forecasted decline.
Future trends to watch for include potential consolidation in the industry as smaller enterprises may struggle with economic pressures and competitive technologies. Additionally, continued innovation and shifts in consumer demand could drive changes that might stabilize or reverse this downward trend toward the end of the forecast period.
