The global electrical and electronics retail market has experienced healthy growth in recent years, registering a compound annual growth rate (CAGR) of 5% between 2011 and 2015 to reach a value of almost $1.01 trillion, according to data from research company MarketLine.
The trend of robust growth is set to continue, with MarketLine forecasting a market value of $1.47 trillion by 2020. This new report reveals that while market values have increased in all regions, global growth is primarily driven by Asia’s growth economies, as swelling middle classes begin to invest in technology products.
MarketLine believes APAC’s performance will generally drive growth, albeit mixed. For example, China, India, and Vietnam look set for continued strong growth, but a minimal rise in market value is the best that Japan and South Korea can hope to achieve.