The industry showed year-on-year variations from 2013 to 2022, with notable fluctuations:
- 2013: -0.45%
- 2014: -1.28%
- 2015: 0.0023%
- 2016: -2.14%
- 2017: 3.61%
- 2018: 6.97%
- 2019: -2.43%
- 2020: -4.96%
- 2021: 7.41%
- 2022: -1.92%
- 2023: 0.041%
The 2028 forecasted CAGR is 0.03%, with an average annual growth rate of 0.14% over the next five years.
Future Trends to Watch: Market participants should monitor technological advancements and shifts in consumer demand, particularly in emerging sectors like IoT, AI, and green technologies. Stay alert to global supply chain disruptions and regulatory changes that could impact growth. Adapting to innovation and maintaining competitive edge through R&D investment will be crucial for the industry's future stability and growth.
