Many electrical equipment, electronic products and component manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG) in 2016, 1.2 million industrial robots are expected to be deployed by 2025, thus indicating a rise in automation and robotics technology adoption to improve productivity and reduce production costs.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL OTHER ELECTRICAL EQUIPMENT, ELECTRONIC PRODUCTS AND COMPONENT MANUFACTURING MARKET AT $362 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for more than half of the global market. China was the largest country, accounting for one-third of the global other electrical equipment, electronic products and component manufacturing market.
According to The Business Research Company’s Consultant, Nitin Gianchandani, virtual reality technology is being adopted by electronic manufacturing companies to improve manufacturing efficiency. This technology in the electronic manufacturing industry is often referred as digital design, simulation and integration. Virtual reality minimizes the scope for product defects in design phase. For instance, virtual reality technology enables companies to inspect design objects at all conceivable scales, thereby eliminating defects in the product in the design stage.
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Nippon Carbon was the largest player in the other electrical equipment, electronic products and component manufacturing market in 2017, with revenues of $196 million in 2016. Nippon Carbon’s growth strategy aims at exporting products overseas and proceeding with application development in partnership with foreign companies.
Other electrical equipment, electronic products and component manufacturing industry group comprises establishments of manufacturing electrical equipment and components (except electric lighting equipment, household-type appliances, transformers, switchgear, relays, motors, and generators). It includes manufacturing of carbon and graphite product, vaporizers, e-cigarettes, other electronic nicotine delivery systems (ENDS) and general electrical equipment and component.
Other Electrical Equipment, Electronic Products And Component Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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