The Green Electronics Manufacturing Market is expected to increase from US$ 17.36 billion in 2023 to US$ 177.01 billion by 2033. The market is expected to progress at a CAGR of 26.14% from 2023 to 2033.
Industrial Applications Are Likely to Make Substantial Usage of the Electronics Manufacturing Market
With the environmental revolution on the rise, electric motor controls are demanding more efficiency from industrial motors. Additionally, increased integration at the lowest possible cost is essential to promote new technology market penetration and improve safety and dependability. This increases the demand for electrical components utilized in digital signal controllers in smart motors for voltage control activities.
Additionally, Industry 4.0 guarantees significant improvements in manufacturing data automation efficiency and production. To some extent, growth is driven by parallel advancements in industrial IoT and artificial intelligence (AI). Although the electronics industry is still a long way from obtaining the same level of intelligence and automation as the automotive industry, the evolution toward Industry 4.0 is evidenced by recent trends in the electronics manufacturing services sector.
The production of electronics for industrial automation is propelling this market forward. Industrial automation players want consistent access to all data generated on the system. This level of data collecting is hard due to the scale of many operational utility applications. For precise data collecting, regions such as Europe and North America are rapidly installing Supervisory Control and Data Acquisition (SCADA).
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.
Green Electronics Manufacturing Market Key Points
· 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.
· The 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.
Who is winning?
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
· 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.
These insights are based on a report on Green Electronics Manufacturing Market by Future Market Insights