The Electronics Industry is made up of companies that manufacture, design, assemble, and service electronic products. These products consist of materials, parts, components, subassemblies, and equipment that use the principles of electronics to perform their major functions.
Discrete components, such as integrated circuits, consumer electronics, such as TVs, cellphones, and personal computers, as well as industrial robots and medical devices like heart-rate monitors and dialysis machines, can all be considered products. Automotive, aviation, defense, telecommunications, entertainment, and healthcare are some of the sectors that the electronics business supports.
The Electronics Industry is driven by innovation and a lot of money and effort goes into research and development to design and make improved parts and products, as well as improve manufacturing processes.
Companies in the electronics sector are constantly engaged in fierce rivalry to put novel concepts into practice and be the first to market with cutting-edge technologies. This puts a lot of pressure on design and engineering teams to produce new goods and services more quickly and at a lower cost. The pressure to increase sales and maintain profit margins much above production and operating costs is also placed on the sales and marketing departments. In order to deliver insights that can assist optimize workflows and generate more revenue, many electronic companies are also experimenting with and using advanced analytics.
Companies are also specializing in specific niches to guarantee sustainability and maintain profitability. Many electronics manufacturing companies are outsourcing manufacturing and production of parts or products.
Top 10 Electronics Exporters by Country
- China: $898.96 billion
- Hong Kong: $300.86 billion
- South Korea: $200.79 billion
- United States: $185.40 billion
- Germany: $177.49 billion
- Singapore: $166.85 billion
- Vietnam: $131.39 billion
- Japan: $118.92 billion
- Malaysia: $102.89 billion
- Philippines: $38.07 billion
