ELECTRICAL AND ELECTRONICS INDUSTRY:

Due to rapid technical advancements, the electronics business has always been a flourishing business. Innovations in consumer electronics, semiconductors, and wearable electronics are driving the electronics sector forward. On the other hand, technological developments in areas like smart electronic devices, green electronics, automotive electronics, and organic electronics are propelling the electronics sector forward. Organic electronics’ scientific advancements are opening up a lot of opportunities for the electronics sector in the near future. With the advent of IoT, another key trend in the electronic industry has emerged. Consumer electronics manufacturers are incorporating IoT-enabled technologies such as Wi-Fi, Bluetooth, Low Energy, and mini servers into their products. The number of smart connected devices shipped globally is estimated to reach 223 million. Apart from IoT, governments’ increasing attempts to facilitate smart city initiatives are fueling electronics industry innovation.

INDIA MARKET OUTLOOK:

The electrical and electronics market is one of the largest in the world, and it is one of India’s top five economic sectors, with a predicted CAGR of 24 percent. Consumer and industrial electronics, computers, communication and broadcasting equipment, strategic electronics, and electronic components are all part of the electronics industry. The consumer electronics and durables industry is valued at over Rs 340 billion at the moment. In recent years, the increased generation, delivery, and use of electricity has resulted in an increase in demand for electrical apparatus and equipment. The Government of India’s New Industrial Policy has delicensed the Heavy Electrical Equipment Industry. In addition, under the New Policy, these items are automatically approved for international cooperation. Heavy electrical equipment is mostly produced by government-owned firms that were established with foreign financial and technical help.

GLOBAL MARKET OUTLOOK:

The global electrical and electronics industry is predicted to increase at a CAGR of 8.7% during the next five years. Sales of products that generate, distribute, and use electrical power by entities (organisations, sole traders, and partnerships) that produce products that generate, distribute, and use electrical power, or electronic products such as audio, video, and semi-conductors, make up the electrical and electronics market. Computers, computer peripherals, and telecommunications equipment are not included in this market. Electrical equipment, measurement and control devices, and electronic devices make up the electrical and electronics market. With 45 percent of the worldwide electrical and electronics market, Asia Pacific was the most important region. The second largest region, North America, accounted for 22% of the worldwide electrical and electronics market. In the global electrical and electronics market, Africa was the tiniest region.

TOP PLAYERS WORLDWIDE:

• Apple Inc.
• Samsung Electronics
• Bosch Ltd
• Hon Hai Precision Industry
• Havells India Ltd
• Huawei
• Bajaj Electronics
• Dell Technologies
• The Kirloskar Electric Company Limited
• Hitachi
• Panasonic
• Sony
• LG Electronics
• Intel