According to the report analysis, ‘Electronic Products Manufacturing Global Market Report 2019’ states that in the electronic products manufacturing worldwide market there are numerous companies which presently functioning more actively for leading the fastest market growth and registering the great value of market share around the globe during the coming years while developing the applications of the electronic products, advancing the features and specifications of the electronic product, advancing the measures of the electronic product manufacturing technologies, delivering the better consumer satisfaction and decreasing the price of such includes Samsung Electronics Co Ltd, Intel Corporation, Taiwan Semiconductor Mfg Co Ltd, Micron Technology Inc, QUALCOMM Incorporated and several others.
However, the need for the smart TVs is being propelled by the growing the consumer predilection for the built-in smart occupations in personal devices, and growing the usage of internet penetration. A smart TV syndicates the topographies of televisions and computers, and encompasses a television set with combined functions for internet usage. Not only has this, the Smart TV users are also accessible direct access to streaming the services such as Netflix and Amazon Prime Instant Video. To exploit on this trend, television manufacturers around the world are incoming the smart TV market. According to the IHS Technology report, 48.5% of televisions transported across the globe were smart TVs and the number is predicted to reach 134 million by 2020.
Although, along with the advancing technology, there is trend of smart offices and smart homes, where electronics products is an imperative part of it. The significant growth in the disposable income of the individuals of electronics products and their modification in predilections towards the smart homes and smart offices surroundings, are thus majorly propelling the growth of the industry.
Great end products still has to go an extensive way to obtain superior industry share in the underdeveloped regions. For instance, 4K TV is a trend in several underdeveloped regions but it has capability to transform and advancement as per the developed technology around the world.
Not only has this, the China has growing the manufacturing cost which has fascinated India to be superlative manufacturing hub. The “Make in India” policy of the government is further fascinating more investments in customer electronic industry. Of the entire electronic industry across the globe, electronics products have effective percentage of market share, with foremost implementation amongst the middle-income collection population.
Based on the region, the market of electronic product is spread around the globe which majorly involves North America, Europe, Asia Pacific region, Africa and Rest of the World. Africa was the smallest region in the global electronic products manufacturing market. Whereas, the Asia Pacific region was the principal region in the worldwide electronic products manufacturing market, registering for 45% of the market in 2018. North America was the second principal region dominating for 25% of the worldwide electronic products manufacturing market. Therefore, in the coming years, it is predicted that the market of electronic products will increase around the more significantly over the coming decade.
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Ankur Gupta, Head Marketing & Communications