The Business Research Company’s Electronic Products – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, January 19, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
With rising incidences of theft and crime, companies in the video equipment manufacturing industry are manufacturing closed circuit television cameras with motion detection technology. Motion detecting CCTV camera detects any motion of objects in its field of view and raises an alarm in case of an intrusion. These cameras consume less energy as they get activated and begin recording only when there is a movement of object in its field of view. This feature offers effective surveillance of an area at low costs. For instance, some of the major companies in the consumer electronics market manufacturing motion detecting CCTV cameras include Sony, Samsung, Honeywell, Panasonic and others. Such cameras are a trend in the electronic devices industry.
The global electronic products market is expected to grow from $948.78 billion in 2020 to $1055.29 billion in 2021 at a compound annual growth rate (CAGR) of 11.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electronic devices market size is expected to reach $1291.14 billion in 2025 at a CAGR of 5%.
Asia Pacific is the largest region in the global electronic products market, accounting for 50% of the market in 2020. North America is the second largest region accounting for 23% of the global market. Africa has the smallest electronic devices market share.
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