Innovation and growth

DigiKey’s president, Dave Doherty

DigiKey’s president, Dave Doherty, sees the electrification of everything as a key driver now and into the future, supported by a surge in new product introductions

DigiKey has supported a surge in new product introductions this year in every industry from automotive to medical, industrial automation to consumer devices and everything in between, driving business across the board. We are pleased and expect innovation and growth to continue into 2024.

We view the electrification of everything as a key industry trend that has driven significant growth and will continue to drive significant growth next year. We expect wireless connectivity, smart sensors, cross architecture solutions and rapid prototyping will also be key driving trends in the year to come. DigiKey looks forward to continuing to provide all the components and services necessary to accelerate progress.

We’re also keeping an eye on shifting market demands for AI and machine learning, including supercomputers and AI chips. While the overall supply chain has improved immensely, some key suppliers—semiconductors in particular—are still short of our industry best in-stock goals. We anticipate lead times will continue to come down in 2024. Pricing is a bit trickier to call with offsetting forces between shorter lead times vs inflationary impact of material and labor.