Global electronics industry: growth outlook by region 2021

In 2022, the electronics industry in the Americas is expected to grow by around five percent year-on-year. The market is expected to continue the recovery from its slump in 2020 when the market contracted by three percent, compared with 2019. The market was valued at around 880 billion euros in 2019, accounting for roughly 20 percent of the global market, which was sized at 4.6 trillion euros in 2019.

Post-pandemic recovery

The COVID-19 pandemic forced people around the world to work, learn, and spend their free time at home, driving the demand for consumer electronics. However, due to the global shortage of chips and disruptions to supply chains, many electronics products continue to be in short supply. The global electrical and electronics industry thus did not grow in 2020 compared with the previous year. As problems related to COVID-19 are increasingly being addressed, the industry is expected to experience a period of growth in 2021 and 2022. Between 2020 and 2021, the industry is projected to grow by nine project, and between 2021 and 2022, the industry is expected to grow by six percent, globally.

About the global electronics industry

The electrical and electronics industry comprises a variety of products, ranging from aerospace products, lamps and light fixtures including light-emitting diodes, consumer electronics such as television sets, electrical household appliances, electronic medical equipment, microelectronic components, as well as automotive software and electrical and electronic components such as on-board diagnostics (OBD), in-car touch screens, cameras, and navigation systems.