The Electronics and Home Equipment Industry
Electronics and home equipment industry is an expansive and rapidly developing field that encompasses numerous products ranging from televisions to microwave ovens.
Industry competition is intense and research and development costs must be covered to stay ahead. This requires design and engineering teams to collaborate closely together in creating improved products as well as manufacturing processes that are both cost-efficient and timesaving.
Functions
Electronics and home equipment employ numerous components that perform various functions, most notably semiconductors and transistors, although in relatively smaller amounts. Integrated circuits are a relatively recent (or old) invention that allow engineers to combine multiple devices on one board – such as capacitors, inductors and light bulbs – without using multiple boards for each individual one. Electronic devices have long been associated with an elusive electron, or “e”. This subatomic particle cannot be seen by human eyes but can be measured using high-speed laser scanners. At the heart of all modern electronics and providing energy to nearly all corners of our world, this tiny dot plays a pivotal role as it consumes resources and emits greenhouse gasses – leaving significant environmental impacts behind its path of creation and use.
Materials
Electronic and home equipment materials play an integral part in their functionality, design, performance and recycling or reuse processes. Their materials also impact how effectively a product can be recycled or resold after use.
Recent developments in materials technology enable companies to produce higher-quality electronic products with reduced resources and environmental impacts, thus improving longevity of products.
Electronic component production relies on various chemicals and gases that ensure product quality, remove impurities from materials and de-grease them for assembly.
Design
Designing electronics and home equipment is an intricate and highly technical process, which involves research, problem solving and the art of synthesis.
An effectively designed product or system can help your business increase performance and efficiency, reduce costs and risks and save costs and risks.
An effective design also demonstrates that you are attentive to your customers and their needs and desires, setting you apart from competitors while keeping customers coming back again and again.
Applications
Electronics and home equipment serve a range of functions in our daily lives, such as powering computers, laptops and printers; transferring data between servers and computers; providing power for elevators, lights, air conditioners and other office equipment – to name but a few!
Electronic products play an essential role in medical technology, recording data and analyzing physiological information. Equipment like MRIs and CT scans, X-rays, glucose meters and pacemakers all rely on electronics to perform effectively.
Home automation technologies enable people to control their homes using voice command or sensor-based control, helping people save electricity when it isn’t needed or let in too much light when necessary, as well as monitoring it from afar, which is especially helpful for parents who must balance work with raising children.
Market Size
The global electronics and home equipment market reached USD 1.10 trillion in 2021 and is anticipated to increase to an estimated total value of USD 1.70 trillion by 2028, at a compound annual growth rate of 7.6%. Consumer electronics demand is driven by technological advancement, increased disposable income, and rising living standards.
Asia Pacific will account for the greatest market share in the global electronics and home equipment industry during this forecast period, driven by rapid industrialization and robust economic expansion in this region. Both China and India have recently welcomed foreign direct investment (FDI) into their respective electronics sectors.
Green building initiatives and increasing consumer interest for energy-efficient products will also contribute to the expansion of electronics and home equipment market. Furthermore, integrating IoT devices will facilitate higher safety and product quality levels.