Electronic Products Market Grows At 7% Rate As Employees And Students Switched To Online Modes
The Business Research Company’s Electronic Products Market 2021 - Opportunities And Strategies - Global Forecast To 2030
LONDON, GREATER LONDON, UK, December 3, 2021 /EINPresswire.com/ -- The global electronic products market is expected to increase from $1.19 trillion in 2020 to $1.65 trillion in 2025 at a rate of 6.8%. The increase is mainly due to the lockdown increasing demand for various electronic products as employees and students have switched to the online mode. The electronic products market is expected to grow from $1.65 trillion in 2025 to $2.17 trillion in 2030 at a CAGR of 5.6%.
The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electronic products and applications. Technological development is key for 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 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 market for electronic products during the forecast period.
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The electronic products market consists of sales of electronic products by entities (organizations, sole traders and partnerships) that produce electronic products. These include semiconductors, audio and video equipment and other electronic components. Electronic products are electronic devices that store, generate or transmit information in electronic form. These are components used for controlling the flow of electrical currents for information processing and system control. Electronic products include televisions, speaker systems, household-type video cameras, jukeboxes, and amplifiers for musical instruments are used for various applications such as entertainment and communication.
TBRC’s electronic products market report is segmented into audio and video equipment, semiconductor and other electronic components, business to business (B2B), business to customer (B2C), OEM and aftermarket semiconductor, other electronic components, offline, online.
A recent trend in the market is how the growing demand for 360-degree dual camera is increasing, as it can shoot or capture videos in all directions, giving a 360-degree view to viewers. A virtual reality headset is required to create a 360-degree view, and some equipment manufacturers are already in the market with their specially designed camera for recording 360-degree videos. Moreover, the rising demand for curved TVs is being driven by consumer preference for better viewing. A curved screen allows for a more immersive experience, as the curved shape allows the viewer to fill more of their field of view, and also provides a wider viewing angle.
Electronic Products Market 2021 - Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides electronic products market overview, forecast electronic products market size and growth for the whole market, electronic products market segments, and geographies, electronic products market trends, electronic products market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
Here Is A List Of Similar Reports By The Business Research Company:
Electrical And Electronics Global Market Report 2021 - By Type (Electrical Equipment, Measuring And Control Instruments, Electronic Products), By End-Use (B2B, B2C), By Sales Channel (OEM, Aftermarket), By Mode (Online, Offline), COVID-19 Impact And Recovery
Semiconductor And Other Electronic Component Global Market Report 2021 - By Type (Semiconductor And Related Devices, General Electronic Components), By Application (Automotive, Manufacturing), By Sales Channel (OEM, Aftermarket), By Mode (Online, Offline), COVID-19 Impact And Recovery
Audio And Video Equipment Global Market Report 2021 - By Type (Audio Equipment, Video Equipment), By End-Use (B2B, B2C), By Sales Channel (OEM, Aftermarket), By Mode (Online, Offline), COVID-19 Impact And Recovery
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