LAS VEGAS, Jan. 13, 2024 /PRNewswire/ — On January 10, 2024, the Global Top Brands Awards Ceremony was held in Las Vegas, USA. Experts, scholars, business leaders, and media elites from the global consumer electronics industry gathered together to witness the new trends in consumer electronics development driven by scientific and technological innovation.
With the theme of "Innovation Shaping a Digital Future", this Global Top Brands Awards (GTB for short) is jointly organized by Asia Digital Group (ADG) and Europe Digital Group (EDG), with support from International Data Corporation (IDC) and TWICE. GTB been held for 19 consecutive years and is recognized as one of the most authoritative, professional, and credible events in the global consumer electronics industry. Participating brands undergo comprehensive assessments based on industry popularity, global strategic layout, influence on the international market, and product innovation.
Global Discussion of Consumer Electronics Development Trends
As the global economy rebounds and disposable income rises, enticing consumers to upgrade their current possessions becomes a shared hurdle for consumer electronics corporations worldwide. During the Awards Ceremony, President Zhu Dongfang of ADG stated that as the economic environment continues to improve, consumer confidence is gradually being restored. This has led to the introduction of innovative new consumer electronic products and the nearing completion of inventory clearance within the industry chain. Consequently, the overall demand for the global consumer electronics market is steadily recovering. According to GfK, the retail sales scale of the technology consumer goods market experienced a significant year-on-year increase of nearly 11% in the second half of 2023, resulting in the industry’s overall growth rate reaching approximately 4%. China, in particular, is expected to witness further growth, with GfK predicting that the scale of its technology consumer goods market will reach 2.3 trillion yuan in 2024, accompanied by a year-on-year growth rate of 5%. The Chinese consumer electronics industry has transitioned from the desktop internet period dominated by laptops to the mobile internet period driven by smartphones. Anticipated trends suggest a new era of Internet of Everything fueled by emerging technologies like AIoT, accelerating the implementation of software and hardware services within IoT application scenarios. With the development of global consumer electronics, Chinese brands are constantly showing their strengths. Chinese science and technology and high-end manufacturing companies are shifting from the mid-to-low-end market to the mid-to-high-end market. China is not only the manufacturing base of the world’s consumer electronics, but also a huge consumer market for consumer electronics, and a future innovation market for global consumer electronics.
According to Vice President Adam Goldstein of TWICE in his speech, the annual GTB holds immense significance for our media platform, as it sets the development direction for the consumer electronics industry every year. We have partnered with GTB for 19 consecutive sessions, each unveiling a promising digital future. Its significance and impact on sustainable innovation and development in the consumer electronics industry, amidst the new competitive landscape, are undeniable.
During the dialogue session of the International Consumer Electronics Industry Leaders’ Summit, ADG’s Executive Vice President Zhang Li took on the role of the moderator and engaged in a deep discussion with Senior Editor of TWICE Grant Morgan, Vice President of BOE Technology Group, CEO of BOE Varitronix Su Ning, Co-Founder & Vice President of XPENG AEROHT Wang Tan, and Alexander Ng from Skyworth Group. The group delved into a deep discussion centered around the theme of "Intelligence Leads Innovation, Technology Reshapes Brands".
Zhang Li expressed that GTB is an exceptional communication platform, not only for exchanging information but also for promoting positive industry development through these exchanges.
Grant Morgan mentioned that expanding brands internationally is a challenging task. The key factors are establishing a strong brand image and engaging in high-quality local partnerships. TCL stands out as a successful example, with its well-known products in the United States.
Su Ning shared that on the first day of the Consumer Electronics Show (CES), BOE, in collaboration with Corning, unveiled the world’s first 45-inch 9K Oxide MiniLED screen for automotive use. This screen features a 10K ultra-high resolution and BOE’s intelligent cockpit solution that integrates software and hardware. BOE consistently prioritizes technology and innovation, investing around 7% of its annual revenue in R&D.
Wang Tan stated that the flying car showcased at CES is an independent R&D project within XPENG AEROHT. Our scientific and technological innovation focuses mainly on two aspects: the power system of the flying car and a stable and secure flight control system. Therefore, our goal is to ensure both safety and efficiency.
Alexander Ng explains that having a thorough understanding of different markets’ characteristics and customers’ needs is crucial for tailoring brand plans accordingly. Brand positioning plays a vital role, starting with the customer base and expanding the industry chain through various channels. This forms the foundation for a brand’s international survival.
Innovation Leading the New Era of Consumer Electronics Development
Winners list was officially released with the witness of global guests. The first category released was the 2023-2024 Global CE Brands Top 50, which included traditional international first-line brands such as Apple, Samsung, Sony, Siemens, HP, Intel, Qualcomm and more. Chinese brands such as Huawei, TCL, BOE and Midea demonstrated their increasing prominence by securing spots on the list. The 2023-2024 CE Brands Top 10 mainly focused on evaluating Chinese brands in the Chinese market. Huawei, TCL, Midea, BOE, Hisense, Haier, Xiaomi, Gree, and Skyworth successfully made the list. Smartphones and televisions serve as the cornerstone of the consumer electronics realm, with the 2023-2024 Global Smart Phone Brands Top 10 highlighting the success of Apple, Samsung, Huawei, Honor, OPPO, Vivo, Xiaomi, realme, TECNO, and OnePlus. Similarly, the 2023-2024 Global TV Brands Top 10 featured Samsung, TCL, LG, Hisense, Skyworth, Sony, Xiaomi, Sharp, and Toshiba, showcasing their prowess in the market. The rapid growth of smart cars propelled by electrification garnered significant attention in the innovative 2023-2024 Global Intelligent Vehicles Brands Top 10 list. Tesla, BYD, Toyota, Volkswagen, General Motors, Mercedes-Benz, BMW, Stellantis, Ford, and GAC MOTOR emerged as the final recipients of the awards.
When it comes to Special Award categories, TCL’s 115-inch QD-Mini LED Smart Screen QM8 (X11G Max) Series TV stood out and won the Innovative Display Technology Gold Award of the Year for its outstanding product performance. Another noteworthy product of TCL is the RayNeo X2 Lite binocular full-color glasses, which received the AR Glasses Innovation Award of the Year. Moreover, the NXTPAPER 14 Pro tablet was recognized with the Eye Protection Display Technology Innovation Award. The Navigator Series 3rd Generation Household Central Air Conditioner from Midea achieved the Whole House Air Solution Gold Award thanks to its full liquid chilling, zoning and thermal management technology. BOE captured the 2023-2024 Innovative Display Product Gold Award with its Automotive Ultra Large-Size Oxide Cockpit. Infinix took home the 2023-2024 Most Innovative Mobile Phone Brand Award. Ecovacs was honored with the 2023-2024 Home Cleaning Product Innovation Gold Award as Ecovacs DEEBOT X2 COMBO is the first of its kind to combine the functions of a robotic vacuum and a mopping cleaner. GONEO deservedly won the 2023-2024 International Innovative Enterprise Brand Award, due to the innovative improvements made to the GONEO EV CHARGER in terms of appearance, interaction, compatibility, safety, and service. C&T Industry Company Limited won the 2023-2024 Innovative Design Gold Award for its outstanding product design capabilities. The presence of such award-winning brands and products in this GTB truly reflects the significant advancements in consumer electronics driven by scientific and technological innovation.
The consumer electronics industry is a highly competitive field, and its development requires finding the right direction amidst rapid advancement. GTB will continue to provide support for the development of the consumer electronics industry and grasp future directions.
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