21/02/2024
The Future of the Electronics Components Industry
yogesh kumar
Grow your business | Promote your business | we connect business with international exhibitions | events | trade shows | conference. Service for Event Organizers
Exhibitions help businesses in several ways:
Visibility: Exhibiting at trade shows or exhibitions puts your business in front of potential customers who are specifically interested in your industry. This increases your visibility and brand awareness.
Networking: Exhibitions provide opportunities to network with other businesses, potential clients, suppliers, and industry experts. Building these connections can lead to partnerships, collaborations, and valuable insights.
Lead Generation: Exhibitions allow businesses to collect leads from interested attendees. These leads can then be followed up on after the exhibition, potentially leading to new sales or partnerships.
Market Research: Exhibitions provide a platform for businesses to gather feedback on their products or services directly from their target audience. This can help in refining products, identifying market trends, and understanding customer needs better.
Product Demonstration: Exhibitions offer the chance to showcase products or services in person, allowing attendees to see, touch, and experience them firsthand. This can significantly impact purchasing decisions and drive sales.
Competitive Analysis: Exhibitions provide an opportunity to observe competitors and their offerings, pricing strategies, and marketing tactics. This information can be valuable for benchmarking and refining your own business strategies.
In simple terms, exhibitions help businesses by making them more visible, connecting them with potential customers and partners, generating leads, gathering feedback, showcasing products, and understanding the market and competition better.
For more : http://tinyurl.com/4bbfkahk
The Growth of India's Electronics Manufacturing Industry
Currently, the value of India's electronics manufacturing industry is close to $100 billion, and the sector employs approximately 2.5 million people. In this context, India's demographics also play an important role. India, with an average age of 28, is similar to China's position in 2008, when it was at the peak of rapid industrial economic growth. This similarity highlights the potential for India to emulate China's path and emerge as an electronics manufacturing powerhouse.
India looking to become a $300 billion electronics industry
India looking to become a $300 billion electronics industry by 2025, says Chandrasekhar. India's Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar, has stated that the country's push for tech sector manufacturing will create nearly 5 million jobs in the next three years.
For more : http://tinyurl.com/4bbfkahk
The top 10 trends in the electronics industry in 2024 include:
• Organic electronics
• Advanced electronic materials
• Artificial intelligence (AI)
• Internet of things (IoT)
• Embedded systems
• Printed electronics
• 3D-printed electronics
• 5G and phygital living
• Generative AI
Electronic Engineering Trends: The Future of Electronics
The future of electronics engineering is expected to be a combination of flexibility, artificial intelligence, sustainable energy, and quantum power.
Some trends in electronics engineering include:
• Smart grids
Smart grids are a modern system that allows technology to connect with the network to extract more knowledge from data. Smart grids contain smart devices that collect and supply data to help industrial facilities make informed choices about their electricity use.
• Nanotechnology
Nano technology and chip designing are expected to provide a big boost in the future.
• Wireless power transfer
Wireless technology is expected to keep evolving and offer faster speeds and more reliable connections than previous generations.
• Wearable tech
Wearable tech is expected to be a trend in electronics engineering.
• Organic electronics
Organic electronics are expected to be a prominent development in the electronic industry in 2024.
• Miniaturization
Miniaturization is expected to be a prominent development in the electronic industry in 2024.
• Disruptive technologies
Disruptive technologies like artificial intelligence (AI) and the Internet of Things (IoT) enable innovative manufacturing processes.
Other emerging technologies :
• Advanced electronic materials
• Cyber security
• 5G
• Quantum computing
• Silicon carbide electronics
• Robotics
For more : http://tinyurl.com/4bbfkahk
Emerging Trends in Electronics Manufacturing
• Internet of Things
• Virtual reality
• Artificial intelligence
• Big data
• Robotics
• Smart home devices
• Advanced Materials
• ERP systems
• Sustainability
• 3D printing
• Additive manufacturing
• Demand for sustainable electronics
• Electronically engineering the future
• Predictive maintenance
• 5G technology
• Embedded systems
• Innovation of electric vehicles
• Leveraging technology
• Miniaturization
• Moving from b2b to b2b2c
• Rapid technological advances
• Shift in approach to overseas manufacturing
• Continued reshoring
• Data security risks
•
Top Trends in Consumer Electronics Industry
Here are some trends in the consumer electronics industry:
• Smart homes: Smart homes are driving the adoption of consumer electronics.
• Wearables: Wearable technology is a trending topic in the electronics industry. The invention of Android wear and Apple Watch has opened up new opportunities for startups, entrepreneurs, and app developers.
• Artificial intelligence: AI is a mainstay of the electronics sector in consumer tech. It works on different verticals from big data analytics to speech recognition to predictive teach.
• 5G technology: 5G connectivity offers faster data transfer speeds, lower latency, and greater reliability compared to previous generations of wireless technology.
• Smartphones: Smartphones are the major contributor to consumer electronics growth.
• Sustainability: The importance of sustainability is a trend to watch in 2024.
Other trends include:
• Increasing preference for health tech gadgets
• Growing number of babytech solutions
• Beauty tech devices become mainstream
• Emergence of devices for Metaverse
• The rise of the Internet of Things
• Potential of augmented reality and virtual reality
Future-Oriented: The Electronics Industry in 10 Years
he electronics industry may advance in the next 10 years, making there less demand for jobs due to automation and robotics. EETimes also says that global spending on robotics, including drones, and related services will grow at a CAGR of 22.8 percent.
Other trends in the electronics industry include:
• The rise of the Internet of Things (IoT)
IoT refers to the network of devices, appliances, and systems that communicate with each other to perform a wide range of tasks.
• The global consumer electronics market size
The global consumer electronics market size is expected to reach $1.1 trillion by 2030. The industry is expected to grow at a CAGR of around 5.0% from 2023 to 2032.
• Automation and robotics
Automation and robotics may advance so far that there will be less demand to fill jobs in the electronics industry in the next 10 years.
5 trends to transform the electronics industry by 2030
Here are some trends that may transform the electronics industry by 2030:
• IoT technologies
IoT-enabled devices can help manufacturers gain real-time insights into production processes. This can reduce downtime and enable predictive maintenance.
• Advanced materials
Researchers are creating alternatives to traditional silicon-based components. Advanced materials like gallium nitride (GaN) and silicon carbide (SiC) offer superior performance characteristics.
• Digital twin technology
The digital twin market segmentation includes IoT and IIoT, 5G, big data analytics, blockchain, and artificial.
• Electrification and renewables
Electrification and renewables include solar-, wind-, and hydro-powered renewables and other renewables. This also includes nuclear energy, hydrogen, sustainable fuels, and electric-vehicle charging.
• Generative AI
Nearly 70% of consumers say they believe most businesses will soon be using this technology to improve the customer experience.
Other trends that may transform the electronics industry by 2030 include:
• Robotics
• Autonomous driving
• 5G
• Artificial Intelligence (AI)
The Future of the Electronics Components Industry
The global electronic components market is expected to grow from $190.28 billion in 2022 to $368.4 billion by 2032. The market is projected to reach multimillion figures by 2030.
Here are some trends in the electronics industry:
• 5G networks
The rise of 5G networks is expected to increase demand for electronic components, such as filters, transistors, and power amplifiers.
• 3D printing
3D printing can help create customizable components and complex geometries, which can increase design freedom. Electronics manufacturers are exploring the potential of 3D printing to produce circuits and functional electronic devices.
• Electronic component shortages
Simcona predicts that electronic component shortages will continue in 2024, even though demand dipped in 2023.
• 3D displays
Companies like Bosch are paving the way for 3D displays in vehicles, which could be the future of automotive technology.
Electronic components are the parts used in devices that construct electronic circuits. They change the electric current so it can carry information and help in the functions of that circuit.
The Future of Space Electronics and Evolving Trends
Here are some emerging trends in space electronics and technology:
• Artificial intelligence (AI)
AI helps scientists analyze data from space missions, allowing them to make faster and more informed decisions.
• Robotic technology
Advanced robotic systems can perform tasks such as refueling, repairs, and maintenance on satellites.
• Advanced electronic materials
The semiconductor industry has been relying on silicon for decades, but there is a limit to how far you can etch, lithograph, and pattern a silicon material. New materials and architectures are coming up with innovations to increase the performance of integrated circuits.
• 3D printing
3D printing is affordable, fast, and efficient. NASA is funding a multi-million dollar project to test 3D printing in space, which will soon allow NASA to do construction in space.
• Electric propulsion
Electric propulsion is considered by all space actors as a key and revolutionary technology for the new generations of commercial and scientific satellites.
• Small satellites
Small satellites have become a leading trend in SpaceTech, especially in 2024.
Other space industry trends and innovations in 2024 include:
• Advanced space manufacturing
• Novel space communication systems
• Space traffic management
• Smart propulsion
• Space activity management
• Space missions
• Space mining
Electronic Systems Sector in India
India's electronics sector, which ranks among the world's largest in terms of consumption, is expected to increase from $69.6 billion in 2012 to $400 billion by 2020. It was primarily driven by an increase in demand, which was expected to expand at a compound annual growth rate of over 25% during that time.
Decoding the country's electronics manufacturing journey
According to a PwC report titled "Decoding the country's electronics manufacturing journey and the way forward", the Indian government's integrated approach to the electronics sector is centered around skill development.
Here is some other information about India's electronics manufacturing:
• As of 2023, the electronic manufacturing service market in India is valued at $140 billion.
• By 2026, the EMS market is projected to reach $1,145 billion, with a 5.4% compound annual growth rate (CAGR) from 2021–2026.
• India's domestic demand for consumer electronics is also expected to grow, reaching $21.18 billion by 2025.
• India is the second largest mobile phone manufacturer globally, and its smartphone market is the second largest in the world.
• In 2022, mobile phone production in India increased from 60 million in 2015 to 310 million, at a CAGR of 26%.
• The Indian semiconductor industry is projected to reach a market value of $55 billion by 2026.
• The government has set a short-term exports target of $120 billion, and a target of $300 billion in domestic electronics manufacturing by the fiscal year 2025–26.
India looking to become a $300 billion electronics industry
India's vision is to edge past the target of $300 billion worth of electronic manufacturing and exports by 2025-26. It translates to ₹25 lakh crores, 24 times more than what it was when PM Modi took over in 2014 – ₹1.10 Lakh crores,” said Chandrasekhar. India's first lithium-ion cell factory inaugurated in Andhra Pradesh.(sify.com)
