Electronic Products Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery provides the strategists, marketers and senior management with the critical information they need to assess the global electronic products market.
The global electronic products market reached a value of nearly $1,097.7 billion in 2019, having increased at a compound annual growth rate (CAGR) of 4.6% since 2015. The market is expected to decline from $1,097.7 billion in 2019 to $1,042.7 billion in 2020 at a rate of – 5%.
The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to grow from $1,078.3 billion in 2021 to $1,201.1 in 2023 at a CAGR of 5.5%. The market is expected to stabilize and reach $1,333.2 billion in 2025 and $1,713.6 billion in 2030.
Growth in the historic period resulted from rising disposable income, the increased popularity of audio and video broadcasting, growth in e-commerce for consumer electronics, increased internet penetration, a low-interest-rate environment, technology development, high investments, and increasing usage of TVs. Factors that negatively affected growth in the historic period were volatile metal prices and changes in consumer preferences.
The electronic products market is segmented by end-use into business to business (B2B) and business to customer (B2C). The B2B was the largest segment of the electronic products market by end-use, accounting for 87.3% of the total market in 2019. Going forward, the B2B segment is expected to be the fastest-growing segment in the electronic products market, at a CAGR of 2.6%.
The electronic products market is segmented by sales channel into OEM and aftermarket. The OEM was the largest segment of the electronic products market by sales channel, accounting for 87.2% of the total market in 2019. Going forward, the OEM segment is expected to be the fastest-growing segment in the electronic products market, at a CAGR of 2.4%.
The electronic products market is segmented by mode of sale into offline and online. The offline was the largest segment of the electronic products market by mode of sale, accounting for 91.4% of the total market in 2019. Going forward, the online segment is expected to be the fastest-growing segment in the electronic products market, at a CAGR of 8.3%.
Asia-Pacific was the largest region in the global electronic products market, accounting for 49.0% of the total in 2019. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the electronic products market will be the Middle East and Eastern Europe, where growth will be at CAGRs of 5.4% and 4.6% respectively. These will be followed by Africa and South America, where the markets are expected to register CAGRs of 4.5% and 3.1% respectively.
The electronic products market is fairly fragmented, with a large number of small players. The top ten competitors in the market made up to 32.08% of the total market in 2019. Major players in the market include Samsung Electronics Co Ltd, Intel Corporation, Taiwan Semiconductor Mfg. Co Ltd, Micron Technology Inc, and SK Hynix Inc.
Market-trend-based strategies for the electronic products market include a focus on high volume production of curved TVs and launching of ultra HD TVs, focus on launching wireless audio devices, and focus on producing IoT-enabled devices. Player-adopted strategies in the electronic products market include producing innovative audio and video technologies through research and development, improving product offerings by innovation, increasing production to meet the global demand and expanding businesses through sustainable investments, and strengthening through collaboration.
Electronic Products Market Trends And Strategies
- Growing Popularity Of 360 Degree Dual VR Camera
- Solar Power Integrated Surveillance Camera
- Rising Demand For Curved TVs
- Growing Demand For Smart TVs
- High Demand For Ultra HD Televisions
- Growing Adoption Of True Wireless Audio devices
- Re-emergence Of Vinyl Records Players
- Growing Popularity Of Smart Speakers
- Rising Demand For Motion Detecting CCTV Cameras
- LED Video Walls In Commercial Establishments
- Rising Collaborations And Partnerships
- Rise In Mergers And Acquisitions
- Advances In Sensor Technology
- Advancements In Wafer Fabrication Equipment To Improve Semiconductor Manufacturing Process
- Artificial Intelligence And Machine Learning In Semiconductor Manufacturing
- Energy Efficient Green Semiconductors
- Technological Advances In Memory Chips Development
- Green Wireless Network And Microprocessors
- 3M South Africa
- Advanced Electronics Company
- Amphion Loudspeakers,
- Arabian Power Electronics Company
- Avnet South Africa
- Bose Corporation
- Broadcom Inc.
- Changhong Electronics Group
- CZ Electronics (Pty) Ltd
- D&B Audiotechnik
- Electrocomp (PTY) Ltd
- Harman International Industries
- Leap Technologies FZC
- LG Electronics India Pvt Ltd
- NPO “Digital Television Systems”
- Orion (Orion Electronics Ltd)
- Panasonic India Pvt Ltd
- Panda Electronics
- Qualcomm Incorporated
- Robert Bosch Middle East
- Samsung India Electronics Pvt Ltd
- SITRONICS JSC
- SMARTECH AV
- Sony Corporation
- TCL Operations Polska
- Texas Instruments
- ZR Speaker Lab