Press release
Global Electronic Products Market Projected to Grow at 7.9% CAGR, Reaching $2037.84 Billion by 2029
Electronic Products
How Large Will the Electronic Products Market Size By 2025?
The market size of electronic products has seen robust expansion in the past few years. The market is predicted to escalate from a value of $1382.7 billion in 2024 to $1502.7 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.7%. The key drivers of growth recorded in the historic period include the rise in disposable income, the growing appeal of audio and video broadcasting, e-commerce growth in the consumer electronics bracket, the widespread proliferation of internet access, favorable low-interest rate environments, advancements in technology, substantial investments, and the augmented usage of TVs.
How Big Is the Electronic Products Market Size Expected to Grow by 2029?
The market size for electronic products is anticipated to witness robust growth in the coming years, increasing to $2037.84 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 7.9%. Factors such as technological advancements in electronic products, the emergence of smart cities, heightened demand for wireless audio devices as well as smart televisions, increased use of electronic appliances, escalating requirements for smartphones and tablets, augmented demand for display device electronic components, and a rising embrace of the Internet of Things (IoT), are believed to contribute towards the growth throughout the predicted period. The key trends likely to assert influence in this period encompass advancements in electronic products, the creation of smart cities, generated interest in wireless audio devices and smart TVs, increased reliance on electronic items, a surge in smartphone and tablet demands, heightened necessity for electronic elements in display devices, and the wider acceptance of the IoT.
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Which Key Market Drivers Powering Electronic Products Market Expansion and Growth?
The projected steady economic expansion in multiple developed and developing nations is set to bolster the growth of the electronic products market. As per The International Monetary Fund (IMF), a financial institution based in the US, the baseline forecast for April 2024 indicates a 3.2 percent global economic growth rate consistent with the 2023 rate for 2024 and 2025. It is anticipated that advanced economies will experience a small growth surge, ascending from 1.6 percent in 2023 to 1.7 percent in 2024, eventually hitting 1.8 percent by 2025. The recovery of commodity prices following a significant downturn in the historic period is predicted to further contribute to market growth. During the forecast period, developed economies are also likely to exhibit steady growth. Meanwhile, emerging markets are supposed to sustain their slight edge over developed markets in terms of growth rate during the forecast period. As a result of the steady economic growth, it is anticipated that investments in end-user markets will rise, propelling the market in the forecast period.
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Which Fast-Growing Trends Are Poised to Disrupt the Electronic Products Market?
In light of increasing theft and crime rates, video equipment manufacturing businesses such as Sony, Samsung, Honeywell, Panasonic are producing closed-circuit television cameras equipped with motion detection technology. These motion-sensing CCTV cameras identify any activity within their range and trigger an alert in the event of a breach. The cameras are energy-efficient as they only activate and start recording when they sense movement within their viewing field, providing effective area surveillance at reduced expense.
What Are the Emerging Segments in the Electronic Products Market?
The electronic products market covered in this report is segmented -
1) By Type: Audio And Video Equipment, Semiconductor And Other Electronic Component
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: Business To Business (B2B), Business To Customer (B2C)
Subsegments:
1) By Audio and Video Equipment: Home Audio Systems, Video Equipment, Headphones and Earphones, Portable Media Players, Professional Audio Equipment
2) By Semiconductor and Other Electronic Components: Integrated Circuits (ICs), Discrete Semiconductors, Optoelectronics, Sensors, Capacitors and Resistors
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Who Are the Global Leaders in the Electronic Products Market?
Major companies operating in the electronic products market include Samsung Electronics Co Ltd, Intel, Taiwan Semiconductor Mfg. Co ltd, Micron Technology Inc, SK Hynix Inc., LG Electronics, Broadcom Inc., Qualcomm Incorporated, Texas Instruments, Sony Corporation, Panasonic India Pvt Ltd, India Electronics Pvt Ltd, Godrej, Philips, TCL, Skyworth, Haier, SVA, Changhong Electronics Group, Xiaomi, Panda Electronics, Toshiba, Denon, JVC, Fostex, Sansui, Sharp, Hisense, Duntech, Whatmough, Amphion Loudspeakers, Audison, Behringer, Bosch, Dynaudio, Medion, Focal-JMLab, SITRONICS JSC, Orion Electronics Ltd, NPO, ZR Speaker Lab, Bose Corporation, Harman International Industries, Pioneer, Klipsch Audio Technologies, MartinLogan, Polk Audio, H-Buster, Philco, AOC, CZ Electronics (Pty) Ltd, Avnet South Africa, 3M South Africa, Electrocomp (PTY) Ltd
Which are the Top Profitable Regional Markets for the Electronic Products Industry?
Asia-Pacific was the largest region in the electronic products market in 2024. North America was the second largest region in the electronic products market. The regions covered in the electronic products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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