2024, a rollercoaster year

Rebound Electronics’ MD UK, Raj Keshvara

Rebound Electronics’ MD UK, Raj Keshvara, highlights OEM electronic sectors witnessing significant growth, anchored by technological, environmental and societal shifts

As a data-driven global electronic component distributor we understand how potential market trends are pivotal in steering through intricate supply chain pathways, product developments and customer demand in forthcoming years, particularly 2024. The following four sectors herald growth.

Automotive: With global car sales expected to touch 74 million units in 2024, EVs will dominate the scene as battery costs plummet, making them more accessible.

Aerospace and defence: By 2027, the aerospace and defence market valuation will be $1076.56 billion, marking robust growth.

Medical: The medical technology domain will expand at 4.73 per cent annually, culminating in a market size of US$719bn by 2028.

Renewable energy: Solar PV production capacity will more than double by 2024, positioning renewables as the energy sector’s spearhead. Conversely, certain sectors might encounter contractions considering technological obsolescence, shifts in consumer preferences and global policy directions.

Traditional automotive manufacturing: A decline might ease demand on specific electronics tied to internal combustion engines, potentially stabilising or reducing prices in related components.

Conventional PCs and laptops: Shift towards mobile and cloud computing might decrease demand for traditional PC components, affecting pricing and potentially reducing lead times in specific components.

Legacy networking hardware: The decrease in demand for legacy networking components might ease pricing and availability for related electronic components.