Global Electronic Product

Global Electronic Product

Global Electronic Products Market Size, Share & Trends Analysis Report by Type (Audio and Video Equipment and Semiconductor), by Mode of Sales (Offline and Online), by Sales Channel (Original Equipment Manufacturer (OEM), and Aftermarket), and by End-Users (Business to Business (B2B) and Business to Customer (B2C)) Forecast Period (2023-2030)

The global electronic products market is anticipated to grow at a CAGR of 12.7% during the forecast period (2023-2030). An increase in the use of smart TVs, smart wearables, smartphones, and tablets, with integrated AI technology drives the growth of the electronic product market. The growing adoption of AI features to turn household appliances and electronic products into smart machines that control and optimize their own functionality is the key factor supporting the growth of the market globally. According to the United States International Trade Commission (USITC), in 2021, electric product imports from China, Taiwan, Thailand, and South Korea. Within this digest, the largest increases were in laptop computers and processors, up $10.6 billion or 26.4%. Voice-activated electronic technology has become increasingly prevalent in recent years, with products such as smart speakers and virtual assistants quickly gaining popularity among users. For instance, in March 2021, Simbo.ai launched SimboAlpha, its flagship cloud-based application programming interface (API) platform, that enables health tech stakeholders to voice-based electronic medical records (EMR).

Segmental Outlook

The global electronic products market is segmented on the product type, mode of sales, sales channel and end-users. Based on the type, the market is sub-segmented into audio and video equipment and semiconductors. Based on the mode of sales, the market is sub-segmented into offline and online. based on the sales channel, the market is sub-segmented into OEM and aftermarket. Further, on the basis of end-users, the market is sub-segmented into business-to-business (B2B) and business-to-customer (B2C). Among the modes of sales, the online sub-segment is anticipated to hold a considerable share of the market owing to the rise in digital transformation through multiple channels like social media, mobile apps, and websites.

B2C Sub-Segment is Anticipated to Hold a Considerable Share of the Global Electronic Products Market

Among the end-users, the business-to-customer (B2C) sub-segment is expected to hold a considerable share of the global electronic product market. The segmental growth is attributed to the growing influence of consumer electronics trends are rapidly evolving, with advancements in the Internet of Things (IoT), voice-activated assistants, virtual and augmented reality, wearables, artificial intelligence, and more shaping the future of daily life. The current sensing resistors Series is a game changer for both automotive and consumer electronics markets and is ideal for numerous applications. For instance, in July 2023, Littelfuse, Inc. an industrial technology manufacturing company empowering a sustainable, connected, and safer globe, launched its new current sensing resistor (CSR) family. These new CSRs offer a more cost-effective solution for measuring current within circuits, enabling voltage monitoring, control, and power management of functions such as battery charging and motor speed, while also providing overcurrent protection.

Regional Outlook

The global electronic products market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the North America is anticipated to hold a prominent share of the market across the globe, owing to an increase in demand for AI-based electronics in the region. The key market player includes Cisco Systems, Texas Instruments, IBM Corp., Intel, HP Corp. Apple Inc., and others.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Electronic Products Market

Among all regions, the Asia-Pacific regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to an increase in the trend toward electric products such as miniaturization, new data transmission connection standards, ubiquitous IoT, and 5G democratization. The favorable government policies in countries like China and India are attracting huge FDIs in the region. The top companies are establishing their manufacturing units owing to the cheap availability of factors of production in this region. China and India are becoming the global manufacturing hub for electronic products. Furthermore, Taiwan and South Korea are among the top manufacturers of consumer electronics across the globe.

Hence, High quantities of global consumer electronics like televisions, radios, computers, and cellular phones come from the Asia-Pacific region. The high disposable income of the consumers, huge demand for luxury and premium products, high standard of living, higher adoption of the latest technologies, and the presence of the top players in the region are some of the prominent factors that have driven the Asia-Pacific consumer electronics market. The key market player includes Sony Corp., Huawei Technologies Co., Ltd., MediaTek, Inc. LG Electronics, Panasonic Corp. and others.

Market Players Outlook

The major companies serving the electronic products market include Samsung Electronics Co. Ltd., Panasonic Holdings Corp., Whirlpool Corp., Koninklijke Philips N.V., LG Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2023, DuPont and JetCool Technologies Inc. announced a collaboration to increase the adoption of advanced liquid cooling technology, enabling thermal management for semiconductors electronics, data centers, and other high-performance computing applications.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global electronic products market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.