The import of indicator panels incorporating electronic displays to Singapore stood at 34.305 million in 2023. The overall trend from 2013 to 2023 shows volatility, with occasional significant year-on-year variations and no clear long-term upward or downward pattern.
Between 2021-2022, there was a decrease of 3.98% followed by a further slight decrease of 2.06% from 2022-2023. The recent 5-year compound annual growth rate (CAGR) shows a slight decline at -1.53%.
Looking forward from 2024, forecasts indicate a consistent downward trend, with an estimated 5-year CAGR of -1.85% and an overall reduction of 8.91% by 2028. This suggests continued reduction albeit at a moderate pace.
Future Trends to Watch For:
- Technological advancements and possible market disruptions
- Changes in global supply chains and trade policies
- Local demand shifts influenced by economic factors and tech adoption rates
