Global electronics industry by region - growth outlook 2019-2021

In 2021, the electronics industry in the Americas is expected to grow by around seven percent year-on-yea. The market is expected to recover from its slump in 2020 when the market contracted by seven percrent, compared with 2019. The market was valued at around 890 billion euros in 2019, accounting for roughly 20 percent of the global market, which was sized at 4.5 trillion euros in 2019.

There is hope for a V-shaped post-pandemic recovery

It is expected that reduced production as well as demand amid the coronavirus crisis will affect the electrical and electronics industry in 2020. However, there is hope that the industry will recover quickly thereafter. Globally, the industry is expected to grow by around six percent between 2020 and 2021. The European electrical and electronics market is projected to grow by around six percent between 2020 and 2021, while Asian and American markets are predicted to experience the strongest growth. China contributed around 40 percent of the worldwide market in 2019, more than any other country or region.

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.