Global electronic equipment output value is expected to exceed $ 3 trillion for the first time next year

Japan Electronic Information Technology Industry Association (JEITA) recently released a forecast report that the global electronic equipment output value is expected to exceed 3 trillion US dollars for the first time next year.

JEITA said that driven by factors such as the commercialization of 5G, the global output value of electronic equipment in 2020 will increase by 5% over 2019 and reach 3.0807 trillion US dollars. This is the first time that the market size has exceeded $ 3 trillion.

From the perspective of different fields, the higher growth rate was solution services such as system construction, which increased 8% to $ 999.2 billion. Communications equipment increased by 6% to $ 547.1 billion.

In 2019, the global output value of electronic equipment is expected to increase by 1% compared to 2018, reaching 2.9219 trillion US dollars, and the semiconductor and electronic components and other sectors have dragged down the growth.

Japan Electronics and Information Technology Industries Association is the industry standardization body for electronic equipment and information technology in Japan’s electronics industry. Its main businesses include promoting standardization and product specifications, communicating with the industry overseas, compiling survey statistics, and organizing industry fairs.

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