The forecast for the UK electronic components and boards sector shows a steady decline in hours worked from 2024 to 2028, with values dropping from 35.386 to 32.866 million hours. Using this data, a notable year-on-year decrease can be observed: -1.83% between 2024 and 2025, -1.83% between 2025 and 2026, -1.83% from 2026 to 2027, and -1.83% from 2027 to 2028. The compounded annual growth rate (CAGR) marks an average -1.83% change per year over the forecasted period, suggesting a consistent downward trend.
Future trends to watch for in this sector include:
- Potential advancements in automation and technology reducing the need for labor hours.
- The impact of economic factors such as Brexit or global supply chain disruptions on production levels.
- Increasing demand for customization in electronic components that might alter work hour requirements.
