The Green Electronics Manufacturing Market is set for a remarkable upswing, with projections showing a robust Compound Annual Growth Rate (CAGR) of 26.14% between 2023 and 2033. Starting at US$ 17.36 billion in 2023, the market is forecasted to soar to an impressive US$ 177.01 billion by 2033.
With the environmental revolution gaining momentum, electric motor controls are demanding greater efficiency from industrial motors. Furthermore, increased integration at the lowest possible cost is critical for promoting new technology market penetration as well as improving safety and dependability. This raises the demand for electrical components used in digital signal controllers in smart motors to control voltage.
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Furthermore, Industry 4.0 promises significant gains in manufacturing data automation efficiency and production. Growth is being fueled in part by parallel advancements in industrial IoT and artificial intelligence (AI). Although the electronics industry is still a long way from achieving the same level of intelligence and automation as the automotive industry, recent trends in the electronics manufacturing services sector demonstrate the evolution toward Industry 4.0.
This market is being propelled forward by the production of electronics for industrial automation. Players in industrial automation want consistent access to all data generated on the system. Because of the size of many operational utility applications, gathering this level of data is difficult. Regions such as Europe and North America are rapidly implementing Supervisory Control and Data Collection systems to collect precise data.
Most SCADA systems are made up of single-board remote terminal units (RTUs), which are tiny, ruggedized devices that house all input/output (I/O) modules on a single printed circuit board. As a result, the growing use of SCADA in the utility industry pushes up demand for EMS.
Key Points from the Green Electronics Manufacturing Market
- The market is expected to surpass US$ 177.01 billion by 2033.
- The ever-increasing popularity of products such as smartphones, smart TVs, laptops, ovens, refrigerators, air conditioners, and tablets, as well as the growing need for faster and more efficient manufacturing processes, are driving market expansion.
- Green electronics manufacturing market is expected to grow at a CAGR of 26.14% during the forecast period 2023 to 2033.
- Asia Pacific dominated the green electronics manufacturing market.
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Key Development in the Green Electronics Manufacturing Market
- January 2022 – Samsung Electronics said that it intends to use 100% renewable energy in all of its plants, offices, and data centers in the United States, Europe, and China by 2025.
- December 2021 – Apple Inc. announced a new carbon removal project, with the goal of eliminating more carbon from the atmosphere than the firm creates. A $200 million fund is established as part of the proposal to invest in forestry initiatives.
- October 2021 – LG Electronics revealed its intention to attain carbon neutrality by 2030. The corporation intends to cut greenhouse gas emissions by half by 2020.
- September 2021 – Dell Technologies launched its new sustainability plan, Progress Made Real: 2030, with goals of reducing greenhouse gas emissions by 50%, using 100% recycled or renewable materials in its products by 2030, and advancing the circular economy.
- March 2021 – Ouster, Inc. collaborated with Benchmark Electronics, Inc. to increase the production of its high-resolution digital LIDAR sensors for smart infrastructure, robotics, industrial automation, and automotive industries. To increase production, the company is leveraging Benchmark Electronics, Inc.’s capabilities in PCB assemblies, optics, microelectronics, and automated testing.
Competitive Landscape
Investments, partnerships, acquisitions, and mergers are all attempts by market participants to enhance their market share. Businesses are also investing in the development of new products. They are also focused on keeping competitive pricing.
Electrical product manufacturers have taken steps towards a greener future by redesigning their goods to expedite procedures and boost product reusability and recycling rates. Companies have also begun to use clean delivery tactics to promote minimal trash generation, which boosts supply chain efficiency. Electronics manufacturers are encouraged to reduce e-waste by designing devices that lower the number of dangerous substances.
Among the Key Market Participants are:
- Apple Inc.
- Samsung Electronics Co., Ltd.
- Dell Technologies Inc.
- Sony Corporation
- LG Electronics Inc.
- HP Inc.
- Panasonic Corporation
- Siemens AG
- Toshiba Corporation
- General Electric Company
Green Electronics Manufacturing Market Key Segment
By Technology :
- for Lead-Free
- for Halogen-Free
By Application :
- for Electronics
- for Portable electronics
- for Industrial
- for Automotive
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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