From 2013 to 2023, the electronic components market size in Lithuania exhibited fluctuations, starting at 26.82 million in 2013 and landing at 24.489 million in 2023. Notable years included 2017, which saw a surge of 17.49% growth. Over recent years, market volume displayed a decreasing trend with a year-on-year decline of 0.72% in both 2022 and 2023. The compounded annual growth rate (CAGR) for the last five years is -1.45%, indicating a slight contraction.
Future trends to watch for:
- Continued digital transformation driving component demand.
- Emerging technologies like 5G and IoT fostering growth opportunities.
- Potential impacts from global supply chain disruptions.
- Sustainability and eco-friendly components gaining importance.
