Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Electronic Equipment Market Outlook

The global electronic equipment market size reached a value of USD 1,414.41 billion in 2023. the market is projected to grow at a CAGR of 5.40% between 2024 and 2032, reaching a value of around USD 2,270.60 billion by 2032. Major market drivers are the development of user-friendly smart devices and technological advancements.

Global Electronic Equipment Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 1,414.41
Market Size 2032 USD Billion 2,270.60
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 5.4%
CAGR 2024-2032 - Market by Region Asia Pacific 6.2%
CAGR 2024-2032 - Market by Product Mobile Phones 6.0%
Market Share by Region 2023 North America 17.6%

Key Takeaways

  • China maintains its prominence as the largest smartphone shipping country in the world.
  • Approximately 1.3 billion people across the world own a tablet as of 2023.
  • Rising deployment of AI, 5G, and IoT technology is expected to boost the demand for advanced electronic equipment.

Electronic equipment are devices that depend on electromagnetic fields and are operated with the help of small electrical parts such as transistors and circuits but are not limited to them. There are various applications of electronic equipment such as in image processing, smart grid systems, medical applications, consumer electronics, industrial automation and motion control, and industrial electronics. They are used for controlled conduction of electrons using rectification and amplification methods.

Improvements in technology increased accessibility, lowered costs of consumer electronics, and rising disposable income are resulting in more people worldwide buying mobile phones, laptops, headphones, speakers, and desktop computers, which fuels the electronic equipment market growth. Work from home was a rising trend that started owing to the COVID-19 pandemic and continues to grow with time, fuelling the demand for peripherals and computing devices such as laptops and tablets among other electronics. Moreover, connected homes are becoming a growing trend in the market in which various electronic devices such as laptops, and smartphones are capable of being connected to each other with the help of a single access point.

Key Trends and Developments

Growing fitness and health consciousness; rising demand for green electronics; growing popularity of high-end materials; and technological innovations in the market are the major trends impacting the electronic equipment market development

April, 2024

OnePlus Pad 2, the successor of the OnePlus Pad, is expected to be launched in India in the second half of 2024.

April, 2024

Motorola, a key player in the smartphone market, announced the premium version of its Edge 50 smartphone which is set to release on April 16, 2024.

April, 2024

Sony announced the launch of UPT Power Sound, a line of audio products which features a set of headphones and three speakers.

February, 2024

HP announced the release of its AI-powered laptops, which are equipped with CPU, GPU, NVIDIA Studio as well as rapid video editing capabilities due to its AI technology.

Growing fitness and health consciousness

The rising prevalence of obesity and chronic health conditions is encouraging consumers to invest in fitness trackers, using electronic equipment to monitor and improve their health.

Rising demand for green electronics

Manufacturers are readily incorporating recyclable materials, reducing the usage of hazardous materials, and implementing energy-efficient practices in the production of electronics.

Growing popularity of high-end materials

Materials such as high-performance polymers are witnessing robust popularity as they offer superior strength-to-weight ratio performance which makes them ideal for aerospace and automotive, among other sectors.

Technological innovations in the market

Advancements in manufacturing practices such as 3D printing and automated assembly lines enhance the production speed and offer customisation in the electronics.

Electronic Equipment Market Trends

Rising technological advancements in the manufacturing of electronic equipment is one of the crucial trends shaping the market. 3D printing offers manufacturers increased flexibility in the creation of complex geometries which cannot be achieved with standard manufacturing practices. Moreover, it is a cost-effective process as it only utilises the materials necessary for the manufacturing of parts and minimises the overall waste. Automated assembly lines can facilitate the rapid production of electronic products that are high in demand at high precision and minimal errors.

Market players are focusing on innovations to stay ahead of their competitors and gain an advantage in the electronic equipment market. For instance, Sony announced the launch of UPT Power Sound in April 2024, which features three speakers and a set of headphones. This product range is expected to offer superior bass performance, high noise cancellation, and connectivity with smart home systems which is expected to appeal to a wide range of consumers in the audio products market.

Market Segmentation

“Electronic Equipment Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

  • Mobile Phones
  • Tablets
  • Laptops
  • Desktop Computer
  • Headphone and Speakers
  • Fitness Tracker
  • Others
CAGR 2024-2032 - Market by Product
Mobile Phones 6.0%
Tablets 5.7%
Laptops XX%
Desktop Computer XX%
Headphone and Speaker XX%
Others XX%

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
CAGR 2024-2032 - Market by Region
Asia Pacific 6.2%
Europe 4.6%
North America XX%
Latin America XX%
Middle East and Africa XX%

Mobile phones dominate the electronics equipment market share due to its wide popularity and affordability

Mobile phones are considered to be the most popular electronics worldwide, and accordingly, account for a leading share in the market. They are an affordable and accessible means of communication that are available with advanced features. Apart from making calls, mobile phones can be used to access the internet, send texts, take pictures, and record videos.

Laptops are a rapidly growing segment of the global electronics equipment market for electronic equipment, as people across the world use laptops for work and leisure. Companies everywhere are switching from desktops and older paper-based operations to laptops due to the increased efficiency they offer and the added benefits of portability. Moreover, the rising trend of working from home and BYOD (Bring Your Own Device) has facilitated the demand for laptops among working-class individuals, which further boosts segment growth.

electronic equipment market by region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Electronic Equipment Market Analysis by Region

Asia Pacific is expected to witness rapid growth in the market for electronic equipment due to the fast-growing economies, large populations, and fast-paced manufacturing sector. The huge presence of electronics manufacturers in the region is also a major factor fuelling the growth of the market in the Asia Pacific. Moreover, rising industrial automated systems such as data acquisition, programmable logic controllers, and supervisory control which are designed with electronic components are growing rapidly, especially in countries like China and India. The increasing purchasing power of the populations in the Asia Pacific is expected to surge the demand for mobile phones, laptops, and headphones, among other consumer electronics, in the coming years.

The electronic equipment market in North America is expected to witness sizeable growth in the forecast period due to the growing investments in research and development as well as the adoption of advanced technologies such as 5G and IoT which facilitates the demand for advanced electronic equipment.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!

Key Questions Answered in the Report

The global market size for electronic equipment is expected to reach a value of approximately USD 2,270.60 billion by 2032.

The market is expected to grow at a CAGR of 5.40% between 2024 and 2032.

The major market drivers include development of user-friendly smart devices, technological advancements, and digitalisation.

The key trends of the market are increasing demand for consumer electronic electronics, rising trend of work from home, use of electronic equipment for fitness, and growing popularity of connected homes.

Electronic equipment refers to devices that depend on electromagnetic fields and are operated with the help of small electrical parts such as transistors and circuits.

There are various applications of electronic equipment such as in the image processing, smart grid systems, medical applications, consumer electronics, industrial automation and motion control, and industrial electronics.

The global electronic equipment market is segmented regionally into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The primary types of electronic equipment in the market are mobile phones, tablets, laptops, desktop computer, headphone and speakers, and fitness trackers, among others.

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Purchase Full Report

Datasheet

 

USD 2,969

USD 2,699

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 6,599

USD 5,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

Strategic Solutions for Informed Decision-Making

Back to top

We’re here to help answer any questions about our products and services.

Contact us

Locations


United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124