The crisis caused by the pandemic has taken a very serious toll on the global economy. And what is the situation in the electronics industry market? Let's try to find out.

Statista experts estimate the growth of the global market at 6%. Figure 1 shows the growth rate of the global electronics market (www.statista.com)

Figure 1 - Global Electronics Industry Market Dynamics and Forecast 2019-2021, %
The global electronics industry market in 2019 showed a growth of 2%, in 2020 amid the crisis caused by the pandemic, the market fell 3%, but in 2021 is expected to grow 6% (www.statista.com).
Let's take a look at the major market trends of the electronics industry by region. The dynamics and forecast of the European electronics industry market are shown in Figure 2.

Figure 2 - Dynamics and Forecast of The European Electronic Industry Market in 2019-2021, %
The European market is down 7% in 2020, but is expected to grow more in 2021 than in 2019 by 6%.
The Americas are also expected to grow by 7% in 2021 after contracting by 7% in 2020 (see Figure 3).

Figure 3 - Americas Electronics Industry Market Dynamics and Forecast 2019-2021, %
The Asian electronics market in 2019 showed higher growth than other regions at 3% and the market contraction in 2020 was the lowest compared to other regions at 1%. In 2021, expected growth will be 7% (see Figure 4).

Figure 4 - Asian Electronics Industry Market Dynamics and Forecast 2019-2021, %
Forbes experts write that certain segments of the electronics industry, particularly technology companies, manufacturers of electronic devices showed growth in 2020. This is due to the fact that the outbreak of coronavirus caused the need for self-isolation and the transition to a remote format of work, and this, in turn, influenced the growth of sales of electronic equipment for work at home, as noted by experts Forbes, consumers purchased computers, routers, TVs and other electronic equipment, but this demand experts characterized as unstable, because these products have a long life, and this will affect sales after 2020 (www.forbes.com).

Forbes experts do not give a definite forecast and opinion on the growth or contraction of the electronic industry market, but they highlight certain segments, for example, the growth of the telecommunications industry by several years due to the deployment of 5-G networks (www.forbes.com).

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For the most part, Forbes experts' doubts about projected market growth are due to the consequences of the pandemic - high unemployment, bankruptcy of companies and individuals.