Global Electronics Market Report 2022
Major companies in the electronics market are Samsung Electronics Co. Ltd., Taiwan Semiconductor Mfg. Co ltd, SK Hynix Inc, Qualcomm, Hon Hai Precision Industry, Micron Technology Inc, LG Display Co Ltd, Intel Corporation, Sony Corp and Broadcom Ltd. .
New York, March 23, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Electronic Products Global Market Report 2022” – https://www.reportlinker.com/p06247434/?utm_source=GNW
The global electronics market is expected to grow from $1,108.88 billion in 2021 to $1,198.53 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $1,574.82 billion in 2026 with a CAGR of 7.1%.
The electronics market includes sales of electronics by entities (organizations, sole proprietorships, and partnerships) that manufacture electronics.
The main types of electronic products are audio and video equipment, semiconductors and other electronic components. Devices that reproduce, record or process sound are called audio equipment.
Examples of audio equipment are microphones, radio receivers, AV receivers, CD players, tape recorders, amplifiers, mixing consoles, effect units, headphones and speakers. The equipment works in online and offline mode.
The various sales channels include OEM and aftermarket which are utilized by B2B and B2C end users.
Asia Pacific was the largest electronics market region in 2021. North America was the second largest electronics market region.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the electronic products market is aided by steady economic growth predicted in many developed and developing countries. The International Monetary Fund (IMF) said global GDP growth was 3.3% in 2020 and 3.4% in 2021. The recovery in commodity prices, after a significant drop in the historic period , is further expected to contribute to the growth of the market. Developed economies are also expected to record steady growth over the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets over the forecast period. Steady economic growth is expected to increase investment in end-user markets, thereby boosting the market over the forecast period.
The coronavirus disease (COVID-19) outbreak acted as a massive restraint in the electronics manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined in due to lockdowns imposed by governments around the world. illness with flu-like symptoms, including fever, cough and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in lower economic activity as countries enter a state of ‘lockdown’ and the outbreak has negatively impacted businesses throughout 2020 and until 2021.
However, the electronics manufacturing market is expected to recover from the shock during the forecast period as it is a “black swan” event and not related to any ongoing weaknesses or fundamentals of the market or the global economy.
With the increase in thefts and crimes, companies in the video equipment manufacturing industry are manufacturing CCTV cameras with motion detection technology. The motion detection CCTV camera detects any movement of objects in its field of vision and triggers an alarm in the event of an intrusion.
These cameras consume less power when activated and only start recording when there is object movement in its field of view. This feature provides effective monitoring of an area at low cost.
For example, some of the leading companies manufacturing motion detection CCTV cameras include Sony, Samsung, Honeywell, Panasonic and others.
The countries covered in the Electronics market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway , Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
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