Consumer Electronics Market
We are initially targeting consumers and merchants operating in the $377 billion U.S. consumer electronics industry, which encompasses game consoles, computers, laptops, tablets, cell phones, smartphones, MP3 and other music players, TVs, recording devices, navigation devices, cameras, video games etc. and related entertainment services offered across these technologies.
Key Trends Driving the Consumer Electronic Markets
1. Internet of Things, Artificial Intelligence (AI) and Virtual Reality (VR) are playing an increasingly important role day-to-day human life. Smart TVs, smart homes, smartphones, Internet of Things , artificial intelligence (AI) connected cars and devices are permeating every aspect of human life. Manufacturers and retailers are constantly looking for technologies, innovations and products that capture imagination, are affordable and relevant to solving day-to-day problems.
2. E-Commerce and Omni-channel retail bring in new customers. Merchants in the consumer electronics industry must have a strong online presence. The growing influence of smartphones and deep penetration of internet connectivity is resulting in more online merchants which are all looking for ways to improve sales, brand recognition and customer loyalty.
3. Consumer demand for premium flagship smartphone models. 2019 will mark the introduction of the first smartphones with 5G connectivity on the market.
4. Increased consumer demand and expenditures for streaming services. Consumer expenditures on subscription music (e.g., Spotify, Pandora, Apple Music) are projected to reach $6.3 billion in 2018 and video streaming services (e.g., Netflix, Hulu and Sling TV) are projected to reach $19.7 billion in 2018 (38% increase over 2017).
Our target customers for Scratch Wallet and Payment Gateway solutions include merchants operating in the consumer electronic space and consumers, primarily millennials that purchase these products and services.
And our target clients for our decentralized exchange are companies operating in the consumer electronics industry that intend to capitalize their business plans through the offering and listing of security tokens. We believe that our focus in this segment will provide a unique value to both companies listing on our exchange and to investors seeking access to high-quality consumer electronics businesses offering security tokens.