Global Electronics
Market Report
2024
Electronics market size is USD 3798485.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 7.50% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Electronics market size is USD 3798485.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 7.50% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Electronics Market Sales Revenue 2024 | $ 3798490 Million |
Global Electronics Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.5% |
North America Electronics Sales Revenue 2024 | $ 1519390 Million |
North America Electronics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.7% |
Europe Electronics Sales Revenue 2024 | $ 1139550 Million |
Europe Electronics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6% |
Asia Pacific Electronics Sales Revenue 2024 | $ 873652 Million |
Asia Pacific Electronics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.5% |
South America Electronics Sales Revenue 2024 | $ 189924 Million |
South America Electronics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.9% |
Middle East and Africa Electronics Sales Revenue 2024 | $ 75969.7 Million |
Middle East and Africa Electronics Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.2% |
Market Split by Type |
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Market Split by Mode |
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Market Split by Sales Channel |
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Market Split by End-Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Electronics industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Electronics Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The behavior and manipulation of electrons (and other charged particles) in diverse devices and systems is the focus of the sciences of electronics, which includes engineering and physics. It includes researching, developing, and implementing circuits and systems that process data or carry out tasks using electrical signals. Integrated circuits, transistors, diodes, capacitors, resistors, and other electronic components are only a few of the many technologies that fall under the broad category of electronics. Modern civilization depends heavily on it to power everything from cellphones and computers to communication networks and medical equipment. The Electronics market is being driven by different variables including rising electronics sector, growing investment, increasing product launches and increasing government initiatives.
Additionally, the growing end-use industry such as automotive, consumer electronics, healthcare and others is also one of the major propelling factor for the market development over the forecast period.
The growing penetration of smartphones, TVs, Laptop and others is expected to drive the market growth during the forecast period. Growing increased implementation of BYOD is the major cause behind this. The market is expanding due to the growing trend of smartphones, which is driving up the adoption of consumer goods including automated home appliances and smartphones. Furthermore, factors like a notable increase in urbanization, better internet access, and rising income levels are anticipated to bolster the market's overall expansion. Growing disposable income and consumer purchasing power are other factors driving the market's expansion.
Throughout the projected period, growing government initiatives and investments are anticipated to propel market expansion. Adopted in line with the Make in India initiative, the Electronic Development Fund Policy aims to streamline a transposition duty system. The purpose of the Modified Special Incentive Package Scheme (M-SIPS) is to provide an additional 15–20% CAPEX subsidy. Consumer electronics manufacturers and distributors will probably raise their R&D, production, and distribution costs in the upcoming years. In response to organized retail's increasing market share, contemporary, long-lasting chains have evolved, including e-retailers like E Zone, Reliance Digital, and Tata Croma.
The electronics sector is governed by strict laws. It consists of guidelines for environmental norms, safety, efficacy, and manufacture. The laws, rules, and certification requirements that are relevant in each of their various countries or areas must be adhered to by the product makers and distributors. It is also necessary to adhere to the national laws and regulations that are in force in the particular nation or region in which the electronic items are meant for sale. Growing governmental pressure to develop energy-efficient products is placed on manufacturers as environmental consciousness expands throughout various regions. The industry players also confront the challenge of acquiring certifications for energy-efficient electrical products. Adherence to an extremely stringent regulatory structure often poses multiple challenges for providers.
A spike in demand has been observed for consumer gadgets, especially those that facilitate online learning, distant employment, and entertainment, in response to lockdowns and social distancing tactics. With more individuals adjusting to remote lifestyles, this includes gaming consoles, laptops, tablets, displays, webcams, and streaming items. However, the global supply networks on which the electronics sector depends were severely disrupted in the era of COVID-19 pandemic by variables such as factory closures and logistical difficulties. The delay in production and product availability resulted from shortages of vital components, which includes memory chips, display panels, and semiconductors.
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The competitive landscape of the Electronics market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts.
Reliance Industries Ltd (RIL) wants to disrupt the dominance of multinationals in the local consumer electronics and home appliances market with a new made-in-India brand Wyzr. (Source: https://economictimes.indiatimes.com/industry/cons-products/electronics/ril-turns-wyzr-looks-to-reconnect-via-own-brand/articleshow/109541698.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst)
Top Companies Market Share in Electronics Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The regional market growth is attributed to the presence of major manufacturers and technological advancements. Moreover, the increasing investment in R&D is one of the prominent region for the expansion of the regional market. Furthermore, the growing 5G infrastructure development present an enormous potential for the market growth in the region.
Asia-Pacific stands out as the fastest-growing region in the Electronics market. The regional market growth is attributed to the growing consumer electronics industry and the rising government initiatives for the adoption of several consumer electronics products including smartphones, laptops and others. In addition, the rapid expansion of the end-use industry such as automotive healthcare and others also propel the market growth in the region.
The current report Scope analyzes Electronics Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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According to Cognitive Market Research, the global Electronics market size was estimated at USD 3798485.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1519394.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
According to Cognitive Market Research, the global Electronics market size was estimated at USD 3798485.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 1139545.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
According to Cognitive Market Research, the global Electronics market size was estimated at USD 3798485.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 873651.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
According to Cognitive Market Research, the global Electronics market size was estimated at USD 3798485.2 Million out of which the Latin America market is more than 5% of the global revenue with a market size of USD 189924.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.
According to Cognitive Market Research, the global Electronics market size was estimated at USD 3798485.2 Million out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 75969.70 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Global Electronics Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Electronics Industry growth. Electronics market has been segmented with the help of its Type, Mode Sales Channel, and others. Electronics market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Electronic Products Type stands out as the dominating category. The segment expansion is attributed to the growing adoption of various consumer electronics gadgets across the globe including smartphones, laptops and others. Furthermore, the rising expenditure in this area by the regulatory bodies is another factor that boost the growth of the segment.
Electrical Equipment Type emerges as the fastest-growing category in the Electronics market. The manufacturing and distribution of electrical wire, cables, connections, and accessories used to carry power and communications inside of structures, equipment, cars, and infrastructure projects are covered in this category. It consists of items including connectors, fiber optics, cable management systems, copper and aluminum wires, and cables for communication and power transfer.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Electronics Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the dominating category is Offline. There are many different types of physical electronics stores, ranging from big-box chains to independent small businesses. Before making a purchase, consumers can see, touch, and test electrical devices in these stores, providing a hands-on shopping experience. They frequently have knowledgeable salespeople on staff that are able to advise and support clients. This is expected to drive the market growth.
The fastest-growing category in the Electronics market is Online. The segment growth is attributed to the rising proliferation of smartphones. The expansion of mobile commerce in the electronics industry has been facilitated by the widespread use of smartphones and mobile applications. Numerous online merchants have mobile-friendly websites and applications, enabling users to quickly explore, shop, and make purchases from their mobile devices.
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According to Cognitive Market Research, the dominating category is OEM. Original equipment manufacturers (OEMs) are in charge of creating and developing electronic devices, which can range from simple parts like microchips and sensors to sophisticated systems like laptops, smartphones, and automobile electronics. They use their engineering, technological, and innovative know-how to produce goods that satisfy consumer and market demands.
The fastest-growing category in the Electronics market is Aftermarket. For electronic devices such as computers, game consoles, cellphones, tablets, cameras, and household appliances, aftermarket service providers provide repair and maintenance services. To restore the performance and usability of electronic equipment, these services may involve diagnostic evaluations, hardware repairs, software updates, data recovery, and cleaning.
According to Cognitive Market Research, the dominating category is B2B. Value-added resellers (VARs) are involved in business-to-business (B2B) transactions. VARs enhance the value of electronic products by incorporating extra features, services, or solutions. To satisfy the unique requirements of corporate clients, VARs modify, configure, and package electronic items with software, add-ons, and supplemental services.
The fastest-growing category in the Electronics market is B2C. The segment growth is attributed to the increasing e-commerce sector.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
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Tata Electronics plans to purchase the majority of Pegatron's iPhone production facility in Tamil Nadu, significantly increasing Tata's position as an Apple supplier.
As per the agreement, Pegatron will keep the remaining 40% and offer technical support, while Tata would own 60% of the plant and manage day-to-day operations.
Given the escalating geopolitical tensions between the United States and China, the action is consistent with Apple's aim to diversify its supply chain outside of China. Tata's role in the iPhone manufacturing ecosystem is strengthened by this acquisition.
In this market, Tata has been actively growing its presence while vying with Foxconn, the other significant iPhone maker in India. About 10,000 people work at the Tamil Nadu plant, which produces about 5 million iPhones a year.
Disclaimer:
Type | Electrical Equipment, Measuring and Control Instruments, Electronic Products |
Mode | Online, Offline |
Sales Channel | OEM, Aftermarket |
End-Use | B2B, B2C |
List of Competitors | Samsung Electronics Co. Ltd., LG Electronics Inc., Godrej Appliances, Sony Corporation, Mitsubishi Electric Corporation, Vijay Sales, Panasonic Corporation, Haier Consumer Electronics Group, Bajaj Electricals Ltd., Hitachi Ltd., Toshiba Corporation, Whirlpool Corporation |
This chapter will help you gain GLOBAL Market Analysis of Electronics. Further deep in this chapter, you will be able to review Global Electronics Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Electronics Market Trends North America Electronics Technological Road Map North America Electronics Market Drivers North America Electronics Market Restraints North America Electronics Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Mode Analysis 2019 -2031
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Chapter 12 Market Split by Sales Channel Analysis 2019 -2031
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Chapter 13 Market Split by End-Use Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Electronics market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Electrical Equipment have a significant impact on Electronics market? |
What are the key factors affecting the Electrical Equipment and Measuring and Control Instruments of Electronics Market? |
What is the CAGR/Growth Rate of Online during the forecast period? |
By type, which segment accounted for largest share of the global Electronics Market? |
Which region is expected to dominate the global Electronics Market within the forecast period? |
Segmentation Level Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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