Electronics & Electricals
Revenue is expected to show an annual growth rate (2019-2023) of 6.0%, resulting in a market volume of US$6, 112m by 2023.
Europe will register substantial gains in the global consumer electronics market during the forecast time-frame. The growth is attributed to its increasing economic conditions with a higher dependency on technology-based products for daily activities and operations.
Africa’s retail market for electrical and electronics holds a notable market share of 7.6%.
Rapid urbanization, falling prices of electronic goods, and the demand for electronic products featuring the latest technologies and superior qualities will create more scope for the sector to grow in future. Electrical and electronics specialists will remain the major channel for sales having accounted for 71.7% of the sales in the category.