Global Electronic Equipment Supply Outlook, Electronic Equipment Production Forecast, Electronic Equipment Production Share By Region, Regional Production Forecast By Key Players - North America, Europe, Latin America, Asia Pacific, Middle East and Africa Key Trends and Developments in the Market 2023-2028

Global Electronic Equipment Market Outlook

The global electronic equipment market is expected to grow at a CAGR of 5.40% between 2023 and 2028, reaching a value of approximately USD 1,839.83 billion by 2028. Major market drivers are development of user-friendly smart devices and technological advancements. 

Key Trends in the Market

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 is 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 the 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.

• 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 the peripherals and the computing devices such as the laptops and tablets among other electronics.

• Connected homes is becoming a growing trend in the electronic equipment market in which various electronic devices such as laptop, smartphone is capable of being connected to each other with the help of a single accessing point.

• Growing fitness and health consciousness, along with rising prevalence of obesity and chronic health conditions are encouraging consumers to invest in fitness trackers, using electronic equipment to monitor and improve their health.

Market Analysis

By region, the global electronic equipment production market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The competitive landscape of each region is further examined on the basis of key players for mobile phones, tablets, laptops, desktop computer, headphone and speakers, and fitness tracker, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global electronic equipment market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

Market Share by Product

Mobile phones are considered to be the most popular electronics worldwide, and accordingly, account for a leading share in the electronic equipment market. They are an affordable and accessible means of communication that are available with advanced features. Apart from placing 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 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 added benefits of portability. 

Market Share 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. 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 the electronic components is growing rapidly especially in the countries like China and India. Increasing purchasing power of the populations in the Asia Pacific are expected to surge the demand for mobile phones, laptops, and headphones, among other consumer electronics, in the coming years.

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.