Iot And Other Tech Advances Drive The Electronic Products Market At High Growth Rates
November 25, 2021
The Business Research Company’s Electronic Products Market 2021 - Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 25, 2021 /EINPresswire.com/ -- The electronic products market saw a 14% fall in revenues due to COVID in 2020, with an immediate recovery in 2021 and high growth forecast to 2025 (22%) and more of the same by 2030 (24%). Technology advancements in communications networks, expansion in the demand for network-enabled smart devices and IoT innovations have been the main drivers.
The electronic products market consists of sales of electronic products by entities (organizations, sole traders and partnerships) that produce electronic products. The electronic products market is segmented into audio and video equipment, semiconductor and other electronic components. Only goods and services traded between entities or sold to end consumers are included. The market size for this market is calculated on the basis of the factory gate prices, that is the price that the good is sold at by the maker. It does not include revenues from resales further along the supply chain.
The main drivers of growth in the electronic products market include advances and innovations in electronic communications and network protocols:
• Cellular networks are evolving from 3G/4G platforms to LTE and 5G.
• IoT devices are getting smarter and more self-aware by embedding connective technologies and the adoption of Internet of Things (IoT) protocols in industrial, commercial and domestic products.
• Wi-Fi 6e Networks are providing additional bandwidth channels to support triband-enabled routing devices (2.4Ghz, 5Ghz and now 6Ghz, which has a throughput twice as fast as 5Ghz) and mesh-based coverage. These innovations are designed to overcome the bottlenecks created by the plethora network-tethered devices, including smart phones, tablets, smart watches, PCs, TVs, music-streamers and white goods.
These factors are driving up the demand for advancements in integrated circuits and chipsets, as well as expansion demands on network infrastructures such as Points of Presence (PoPs) – Satellite Access Points for Wi-Fi and a much denser network of Antennae bases for cellular networks.
COVID also played its part, at least in the short term, in dampening demand levels for electronics, slowing down (or halting) silicon chip production and disrupting supply-chains between 2019-2021 – especially with exports from China.
As per data in the Global Market Model, the semiconductor and other components segment continues to dominate revenues having had a 77% market share in 2010 and 90% forecast for 2030. By region, Asia Pacific dominates the market, with a historic 39% rising to 52% in 2030. Western Europe’s share (24% in 2010) is the second largest share and has remained relatively stable at 24% in 2010 with a forecast of 21% in 2030. Third largest is South America, which will see its share fall from 21% in 2010 to 11% in 2030.
The audio and video equipment segment has experienced dramatic downturns in growth between 2010 and 2020. A bounce back of 20% growth is forecast for 2021, with a more modest growth forecast to 2025 (11%) and another swell to 2030 (15%). The semiconductor and other electronic components segment has been much more volatile, with a fall of 13% between 2010 and 2015 and a 25% shrinkage in 2020. As with the audio and video segment, a bounce back is expected from 2021 (10%) and this uplift will continue through to 2030 (25%).
China and the USA are leading in the electronics market with 70% of the market between them in 2010, rising to 80% in 2030. Historically, China’s share has been growing (31% - 45% between 2010 to 2030), while the USA has seen a decline in its relative share (41% - 29% over the same period). Germany has also seen a drop in its share from 22% in 2010 to less than 16% in 2030. India has enjoyed steady growth from under 7% of the market historically, rising to 10% in 2030.
The Electronics Global Market Report is one of a series of new reports from The Business Research Company that provides electronics market overviews, analyzes and forecasts electronics market size, share, electronics market players, electronics market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
Check out a related report we have:
Consumer Electronics E-Commerce Global Market Report 2021 - By Product (Video Products, Audio Products), By Business Model (Business To Business (B2B), Business To Consumer (B2C)), By Pricing Model (Low Cost Products, Medium Cost Products, High End Products), COVID-19 Growth And Change
About The Global Market Model
The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.
Interested In Knowing More About The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology. The Global Market Model is The Business Research Company’s flagship product.