The electronic components turnover in the UK has experienced fluctuating growth patterns over the past decade. From 2013 to 2015, the market declined steadily, followed by a brief resurgence in 2016 and then a more mixed trend up until 2023. Notably, the turnover value stood at 2.47 billion Euros in 2023. In recent years, significant declines were observed, particularly in 2020, with a 17.77% drop, followed by a near 20% rebound in 2021. However, the last two years have shown slight decreases, reinforcing a cautious outlook.
Forecasts for the period from 2024 to 2028 predict a stabilization at lower values, with the CAGR anticipated to be -0.77%, indicating a gradual decline in the market. This suggests a 3.8% decrease in total market value over the forecast period.
Future trends to watch for:
- Technological advancements driving demand for newer components.
- Global supply chain disruptions and their impacts.
- Emerging markets potentially offsetting declines in mature markets.
- Government policies and regulations affecting the electronics industry.
