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The Consumer Electronics Industry is Experiencing a Significant Rise in Regulations

Compliance & Risks, a prominent provider of regulatory intelligence and compliance solutions, sheds light on the expanding regulatory landscape that consumer electronics manufacturers are facing, emphasizing the vital role of compliance.

Cork, Ireland – WEBWIRE

Over the past eight years, companies in this industry have experienced a remarkable 60% surge in regulations, accompanied by constant concerns about product safety, non-compliance penalties, and cybersecurity risks.

In today’s digital era, businesses operating in the consumer electronics sector grapple with intricate regulatory frameworks amidst rapidly evolving technology. The industry’s emphasis on consumer protection and the increasing importance of product sustainability and repairability present substantial hurdles for manufacturers, as they endeavour to build consumer trust and adhere to the principles of the circular economy.

Consumer electronics manufacturers are experiencing substantial transformations in response to the escalating demands for sustainability and safety.

To help companies navigate the intricate regulatory landscape, Compliance & Risks has developed a meticulous process. Joanne O’Donnell, Head of the Global Regulatory Compliance Team at Compliance & Risks, elaborated on their streamlined approach:

“Our dedicated team leverages their extensive global expertise to ensure our proprietary technology, C2P, is updated with the latest regulatory developments for our clients. Over the years, we have fine-tuned our process to near perfection, enabling us to deliver accurate and timely insights that guide companies in meeting regulatory requirements effectively.”

Juliana Kecerová, the Senior Regulatory Compliance Specialist at the company, provided an example of a South Korean consumer electronics manufacturer operating in the heavily regulated markets of the US and EU:

“I see again and again the direct impact our work has on the customers and how instrumental it is in helping them navigate the complex regulatory requirements of multiple jurisdictions. Our in-depth analysis and proactive approach allows our customers to stay ahead of regulatory changes, ensuring smooth market access and bolstering consumer confidence,” and continues, “Maybe more importantly, it gives our customers the faith to push their products into the market knowing that they are in safe hands.”

Regulations concerning cybersecurity, data protection, and AI are tightening as connected devices become increasingly widespread.

Beyond being a burdensome requirement, compliance is also a strategic opportunity.

Businesses can enjoy faster product launches, accelerated speed to market, and continuous market access, all by ensuring compliance. These advantages open up opportunities for manufacturers to expand their market presence, gain a competitive edge, instill consumer confidence, and ultimately improve their financial performance.

Joe Skulski, CEO of Compliance & Risks, shared insights into the business benefits of compliance and his extensive experience with the company:

“Over the years, I’ve witnessed firsthand the transformative impact of compliance on businesses. By recognising compliance to be a strategic function, companies can navigate the intricate regulatory landscape, minimize risks, and seize growth opportunities. As a CEO, I can clearly see that compliance is not just necessary; it’s a powerful driver for success.”

The latest outlook for regulatory trends in consumer electronics can be found on the Compliance & Risks website.

About Compliance & Risks
Compliance & Risks is a global regulatory intelligence and compliance solutions provider. With over 20 years of experience, the company supports businesses in navigating complex regulatory landscapes, providing actionable insights to ensure compliance, manage risks, and drive business growth. Compliance & Risks serves various industries, including Consumer Electronics, Apparel, Medical Devices, and more.

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 Compliance & Risks
 Consumer Electronics
 Global Regulations

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