Farmington, March 29, 2023 (GLOBE NEWSWIRE) -- The Electronics Market Was Valued At USD 3454.94 Billion In 2022 And Is Expected To Reach USD 4986.91 Billion In 2030 With A Growing CAGR Of 7.5%. The market is being propelled forward by a number of forces, the most important of which are the progression of technology, the rising demand for consumer electronics, and the expansion of emerging markets. The term "global electronics market" refers to the industry that operates all over the world and is responsible for the production and sale of electronic products and components. This encompasses a wide range of products, such as mobile phones, laptops, and televisions, in addition to semiconductors, electronic components, and industrial machinery.
The market is controlled by a small number of extremely large businesses, the most notable of which are Samsung Electronics, Apple, Huawei Technologies, LG Electronics, and Sony. On the other hand, there are a significant number of more modest competitors operating in the market, in particular in the fields of semiconductors and electronic components.
The electronic industry is one that is consistently undergoing change, as new services and products are consistently being developed at a breakneck speed. Because of this, it is an exciting and dynamic sector, but also one that needs ongoing innovation and adaptation in order to maintain its competitive position.
Request Sample Copy of Report “Electronics Market Size, Share & Trends Estimation Report By Product Type Outlook (Audio And Video Equipment, Semiconductor And Other Electronic Components) By Sales Outlook (OEM And Aftermarket Semiconductor & Other Electronic Components) By End Use Outlook (Business To Business (B2B) & Business To Customer (B2C)) By Region, And Segment Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Sales Channel Insights:
Distributors operate as middlemen between manufacturers and end users, offering services such as logistics, inventory management, and other related activities. This market sector is especially significant for smaller producers that frequently lack the resources necessary to build their own distribution networks and sales channels.
Companies that add value to products by personalizing those items or packaging them along with additional goods and services are known as value-added resellers, or VARs for short. This particular category is particularly essential in the industrial and enterprise markets, both of which demand specialist solutions for their respective customers.
End User Insights:
Electronics developed for personal use are known as consumer electronics. Examples of consumer electronics include laptops, televisions, cellphones, and home appliances. Because of factors such as rising urbanization, rising per capita disposable income, and shifting consumer preferences, this sector of the electronics industry is currently the largest and most rapidly expanding of all its subsectors.
Electronic components and systems that are utilized in automobiles, such as infotainment systems, navigation systems, and sophisticated driver aid systems, are together referred to as automotive electronics (ADAS). This market is expanding at a breakneck pace, mostly as a result of the rising need for highly developed safety features, increased connectivity, and electric vehicles. Control systems, sensors, and robotics are all examples of applications that make use of industrial electronics, which are electronic components and systems utilized in industrial settings. Increasing levels of automation and digitization, as well as activities related to Industry 4.0, are driving the rapid expansion of this sector.
Electronic components and systems that are utilized in the aerospace and military industries are known as aerospace and defense electronics. Some examples of aerospace and defense electronics are avionics systems, communications systems, and electronic warfare systems. This market is experiencing consistent expansion thanks to rising expenditures in the defense industry and the widespread implementation of innovative technology.
Electronic systems and components utilized in the healthcare industry, such as telemedicine, medical diagnostics, and medical equipment, are collectively referred to as "healthcare electronics." This market is expanding at a breakneck speed, with the primary driver being the rising need for individualized and remote healthcare solutions.
It is essential to do an end-use segment analysis of the global electronics industry in order to gain an understanding of the trends and opportunities present in the various segments. In order for businesses to be successful in the worldwide market for electronics, they need to be able to adapt to the many characteristics and factors that are specific to each market segment.
Regional Outlook:
In the field of electronics, the Asia-Pacific area is not only the most important but also the most rapidly developing region. It is responsible for the majority of both global production and consumption. China, Japan, South Korea, Taiwan, and India are some of the most influential countries in this region. The region is home to a sizable pool of trained workers, possesses robust manufacturing capabilities, and is witnessing the growth of a middle class, all of which are factors that are fueling consumer demand for electronic goods.
With a considerable emphasis on invention as well as research and development, the North American continent is a significant player in the global electronics sector. The United States of America, Canada, and Mexico are all significant actors in this region. The region has a highly developed supply chain and logistics infrastructure, as well as a strong focus on intellectual property protection and regulatory compliance. Moreover, the region has a high level of commitment to regulatory compliance.
In the field of electronics, Europe is another major region, particularly for the production of high-end and specialized items. The countries of Germany, France, the United Kingdom, and Italy are all important actors in this region. The area is home to a labor force that possesses a high level of expertise, advanced research and development skills, and a significant emphasis on environmental preservation and sustainability.
The market for consumer electronics and telecommunications equipment is particularly strong in the Middle East and Africa region, despite the fact that it is still a very small market overall. Countries such as the United Arab Emirates, Saudi Arabia, and South Africa are also important actors in this region. The region has a huge population that is expanding at a rapid rate, is becoming more urbanized, and is strengthening its infrastructure, all of which are factors that are driving demand for consumer electronics.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.5% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 4986.91 Billion |
| By Product | Audio And Video Equipment, Semiconductor And Other Electronic Components |
| By Sales Channel | OEM And Aftermarket Semiconductor, Other Electronic Components |
| By End-use | Business To Business (B2B), Business To Customer (B2C), Other |
| By Companies | Samsung Electronics Co ltd, Intel, Taiwan Semiconductor Mfg. Co ltd, SK Hynix Inc., Micron Technology Inc, LG Electronics, Qualcomm Incorporated, Broadcom Inc., Texas Instruments, Sony Corporation, Godrej, Philips, TCL, Skyworth, Haier |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Driving Factors:
Industry consolidation: Consolidation is becoming increasingly widespread in the electronic industry as a result of the intense competition that exists in this sector. Businesses are doing this in an effort to enhance their market share and their profitability.
Government regulations and policies: Regulations and policies enacted by governments have the potential to have a substantial influence on the electronic sector, notably in spheres such as the protection of intellectual property rights, international trade, and the stipulation of environmental regulations.
Restraining Factors:
Supply chain disruptions: The electronic sector is highly dependent on intricate worldwide supply networks, which are susceptible to disruption from a variety of events including natural disasters, political unrest, and other elements. This can make things difficult for companies who have to manage the risks associated with their supply chains.
Intellectual property theft: The theft of intellectual property is another threat that faces the electronics sector. This threat can stifle innovation and expose companies to legal and financial risk.
Environmental regulations: The electronics industry is coming under growing pressure to lessen the impact it has on the environment, which may result in increased expenses and increased difficulty in complying with regulations for enterprises.
Opportunity Analysis:
Digital transformation: The on-going digital transformation of many industries is creating new chances for firms in the electronics industry to create and offer new digital technologies, services, and products. These opportunities are currently being seized upon by enterprises in the electronics industry.
E-commerce: The proliferation of e-commerce is paving the way for new channels via which companies may communicate with their target audience and sell their wares. E-commerce platforms provide businesses new ways to connect with clients all over the world and lower the old hurdles that traditionally exist in the way of entering new markets.
Emerging markets: As a result of increased per capita incomes and an overall rise in demand for consumer electronics, developing economies, notably those in Asia and Africa, are becoming an increasingly important portion of the global electronics sector.
Challenges:
Intellectual property theft: The theft of intellectual property is a problem for businesses in the electronics industry, which can have the effect of stifling innovation and exposing them to both legal and financial risks.
Regulatory compliance: The electronics business is subject to a wide variety of regulatory obligations, some of which include product safety standards, environmental restrictions, and regulations regarding the privacy of consumer data. Maintaining compliance with these regulations can be a time-consuming and difficult endeavour.
Labor and workforce challenges: Because the electronics industry is so highly reliant on specialized labor, organizations operating in this sector may experience difficulties in recruiting and maintaining suitable workers.
Key Segments Covered:
Top Market Players:
Samsung Electronics Co ltd, Intel, Taiwan Semiconductor Mfg. Co ltd, SK Hynix Inc., Micron Technology Inc, LG Electronics, Qualcomm Incorporated, Broadcom Inc., Texas Instruments, Sony Corporation, Godrej, Philips, TCL, Skyworth, Haier, and others.
By Product
- Audio And Video Equipment
- Semiconductor And Other Electronic Components
By Sales Channel
- OEM And Aftermarket Semiconductor
- Other Electronic Components
By End-use
- Business To Business (B2B)
- Business To Customer (B2C)
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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