The covid-19 pandemic will continue to have a wide-ranging impact on our lives in 2022. This implies that the digitization and virtualization of business and society will continue at an accelerated pace.
The electronics sector appears to be overgrowing, owing to increased demand from developing countries. Before the virus outbreak, due to increased demand, electronics production skyrocketed, accompanied by a surge in investment. The global electronic products market is expected to be worth nearly $1,191.2 billion in 2020, with a Compound Annual Growth Rate (CAGR) of 5.4 percent since 2015. The increase is primarily due to the increasing demand for various electronic products as employees and students have transitioned to online. As we enter a new year, the need for sustainability, ever-increasing data volumes, and increasing compute and network speeds will reclaim their position as the primary drivers of digital transformation.
Regardless of its merits, the electronic industry faces disruptive forces that will test its business model and ability to survive and thrive. The global electronic industries are the fastest-growing sector, worth trillions of dollars, and play a critical role in driving consumers to purchase innovative and smart electronic products. The global market for electronic components is expected to grow at a compound annual growth rate (CAGR) of about 4.8 percent from 2020 to 2025.
The most important lesson of the last two years for many individuals and organizations has been that truly transformative change isn’t as difficult to implement as once thought, if the motivation is there! We will undoubtedly continue to harness this newfound openness to flexibility, agility, and innovative thinking as the emphasis shifts from merely surviving in a changing world to thriving in it.
Change is unavoidable. Either adapt or risk being left out of the competition. To meet customer and global demands, one must be agile and quick to adapt modern and innovative technologies, which are critical for every electronics industry sector. Furthermore, the most important trends in 2022 are likely to focus around the convergence of technology trends, as tools emerge that let us combine them in new and amazing ways.
We present to you, “Top 10 Electronics Manufacturing Solution Providers - 2022.”