Electronic industry growth in Asia has been as apparent as ever over the recent years. Asia has emerged as the leader in global electronic industry growth, with several major markets registering some of the world’s fastest growth rates for consumer technology. Consumer electronics industry statistics and electronics industry growth rates are changing rapidly and Asia’s top markets are at the forefront of this movement. Today, Asia is the world’s largest electronic products producing and exporting region, mainly thanks to the region’s low labour costs, high availability of skilled workers, preferential trading access to Europe and America, increasing foreign direct investment, and strong government support. It is expected that Asia’s electronics industry, led by China, India, and Malaysia will continue to grow and further strengthen its share in the global market over the coming years.
Consumer electronics market in China
Why are most electronics made in China? That’s a common question you always hear and the answer is pretty simple. China is the leader of the global semiconductor market, and the world’s largest producer of electronic products accounting for well over a third of global production. In 2016, electronics output declined by 1.5% and the industry was impacted by low global demand for high volume products in the computer, consumer and communication markets. Despite a maturing mobile phone market in the electronics industry in china, the anticipated recovery in demand for PCs and next generation LCD TVs should boost production with output forecast to increase by 3.4% in 2017, electronics equipment, increasing by 2.0% and components by 8.7%, according to a recent report by Reed Electronic Research
Electronic industry growth in India
The consumer electronics market in India rebounded in 2015 and 2016 with growth of 12.6% and 14.2%, respectively, and its electronic industry is forecasted to show a further double-digit growth in 2017. In the medium to long-term India will continue to show strong growth driven by a large, fast growing domestic market, significant foreign investment, rising exports and an improving regulatory environment. However, with growth in the market out-pacing production demand will increasingly be served by imports. The “Make in India” campaign and other incentives, including enhancing duty differential benefits in favour of domestic companies have continued to promote mobile phone manufacturing in India with around 110 million devices produced in 2015/2016.
Electronics growth rate in Malaysia
In Malaysia, electronic output increased by an estimated 2.8% in 2016 and compared to growth of 4.0% in the prior year. The trend to higher value-added production will continue with the country continuing to be an attractive location for the world’s leading electronic manufacturing service providers. Malaysia is one of the world’s leading centers for semiconductor packaging and assembly, with the output for the key semiconductor sector increasing by an estimated 5.9% in 2016. In line with the increased outlook for the global semiconductor market output is forecast to increase by 8.4% in 2017.
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