GLOBAL ELECTRONICS OVERVIEW
The new era of global connectivity and ubiquity has been ushered in by the global electronics revolution. The global electronics market has witnessed a massive immigration in the last 20 years. Worldwide, the production of electronics has shifted from the high-cost destinations to low-cost geographies, making a major contribution to the economic development of countries like China, Korea and Taiwan. In 2018, China accounted for almost 37% of the global electronics production, followed by the US (13%), Taiwan (6.9%), South Korea (6.8%), Japan (5.4%) and India (3.1%).
During 2018 – 2025, it is expected that the global electronics industry will grow at a CAGR of 3% to reach a size over USD 7.3 trillion by 2025. China will contribute almost 50% of global electronics, in value terms, by 2025. Taiwan may become the second largest manufacturer of Electronic Components in the world after China. Besides other Asian countries such as Vietnam, Indonesia and India continue to expand their electronics value chain and establish themselves as attractive electronics production hubs globally
Globally, the communication electronics segment is by far the largest segment with 32.4% market share (by value) due to the boom of the digital era and the exponential rise in the usage of smartphones. This has further augmented the growth of other segments, such as wearable electronics. As such, usage of computers and Consumer Electronics consumption has increased globally. Computers continue to be a large segment of growth as they are a necessity in not only small and medium enterprises, but also in universities, colleges, and schools. Niche segments, such as automotive electronics, have seen significant growth, which is primarily due to the increased electronic automation in the industry. Medical electronics have seen a steady growth due to rise in access to affordable healthcare and increased demand for medical tourism. With the increasing trend of inter-connected products and solutions, the global IoT industry is set to expand exponentially.
"During 2018 – 2025, it is expected that the global electronics industry will grow at a CAGR of 3% to reach a size over USD 7.3 trillion by 2025."
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