Global Electronic Products Market Size 2024, Forecast To 2033

11 Mar, 2024

The electronic products market has demonstrated robust growth, surging from $1314.69 billion in 2023 to $1411.86 billion in 2024, with a compound annual growth rate (CAGR) of 7.4% in the historic period. This growth is attributed to several factors, including the rise in disposable income, increased popularity of audio and video broadcasting, the expansion of e-commerce for consumer electronics, increased internet penetration, a low-interest rate environment, technological development, high investments, and the growing usage of TVs. Looking ahead to 2028, the market is expected to maintain its strong growth trajectory, reaching $1842.84 billion at a CAGR of 6.9%. The forecasted growth is fueled by innovations in electronic products, the development of smart cities, a growing demand for wireless audio devices and smart TVs, increased use of electronic devices, rising demand for smartphones and tablets, and a surge in demand for electronic components in display devices. Significant trends in the forecast period encompass continued innovations in electronic products, the development of smart cities, a heightened demand for wireless audio devices and smart TVs, increased use of electronic devices, rising demand for smartphones and tablets, a growing need for electronic components in display devices, and an increasing adoption of the Internet of Things (IoT).

Global Electronic Products Market Key Driver

The electronic products market is experiencing growth, supported by the stable economic forecast in many developed and developing countries. As of 2023, the International Monetary Fund (IMF) reported a global GDP growth of 3.3% in 2020 and 3.4% in 2021. The market is further bolstered by the recovery of commodity prices after a significant historical decline. Developed economies are poised for stable growth, and emerging markets are expected to outpace developed markets in the forecast period. This stable economic environment is projected to fuel investments in end-user markets, contributing to the growth of the electronic products market throughout 2024 and 2028.

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Global Electronic Products Market Segments

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 Covered: Audio Equipment, Video Equipment, Semiconductor And Related Devices, General Electronic Components
By Geography:The regions covered in the electronic products market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa Asia-Pacific was the largest region in the electronic products market in 2023. 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

Major Electronic Products Industry Players

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, Sony, 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, Samsung, LG

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Electronic Products Market Overview

Electronic products are defined as products that have an electronic circuit that during operation can generate or emit a physical field of radiation in devices.

Electronic Products Global Market Report 2023 provides data on the global electronic products market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The electronic products market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.