Electrical And Electronics Global Market Size, Share, By Product Type, By Distribution Channel, By End User, By Regional Forecast 2024-2033 | LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Koninklijke Philips N.V., Electrolux AB

Spread the love

The Electrical And Electronics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Electrical And Electronics Market:
https://www.thebusinessresearchcompany.com/report/electrical-and-electronics-global-market-report

According to The Business Research Company’s Electrical And Electronics Global Market Report 2024, The electrical and electronics market size has grown strongly in recent years. It will grow from $3764.98 billion in 2023 to $4031.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increased consumer electronics demand, globalization of supply chains, trade policies and tariffs, miniaturization of devices, energy efficiency concerns.

The electrical and electronics market size is expected to see strong growth in the next few years. It will grow to $5194.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to renewable energy integration, environmental sustainability, cybersecurity concerns, e-waste management, flexible electronics, quantum computing. Major trends in the forecast period include internet of things (iot) integration, edge computing, robotics and automation, artificial intelligence (ai), smart manufacturing.

The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electrical and electronics products. Technological development is a key to attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Digital technologies such as the internet of things (IoT) and the latest communication technologies such as 5G are expected to aid in the development of innovative electronic products. This is expected to increase the demand for electronic products which will ultimately drive the growth of the electronic equipment manufacturing market during the forecast period.

Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=1872&type=smp
The electrical and electronics market covered in this report is segmented –
1) By Type: Electrical Equipment, Measuring and Control Instruments, Electronic Products
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: B2B, B2C

Subsegments Covered: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables, Other Electrical Equipment, Electronic Products And Components, Navigational, Measuring, Electro medical And Control Instruments, Audio And Video Equipment, Semiconductor And Other Electronic Component

Virtual reality technology is being adopted by electronic manufacturing companies to improve manufacturing efficiency. This technology in the electronic manufacturing industry is often referred to as digital design, simulation, and integration. Virtual reality minimizes the scope for product defects in the design phase. For instance, virtual reality technology enables companies to inspect design objects at all conceivable scales, thereby eliminating defects in the product in the design stage. For instance, some of the major companies adopting virtual reality include Integrated Microelectronics, Inc., Flextronics International Ltd., Benchmark Electronics, Inc., and Kimball International.

The electrical and electronics market report table of contents includes:
1. Executive Summary