DigiKey’s VP, global business development, Mike Slater, is very optimistic about the market and its direction in 2025, with APAC business a harbinger of good things to come.
As we continue to see the economy improving, there will be more signals of this being a soft landing rather than a recession. We’re seeing steady customer count growth globally, along with an increase in new product introductions from established and new suppliers. With electronics proliferating everything we do, I don’t think we’ve even scratched the surface of what we can and will do with technology.
Even though the marketplace has been relatively flat in 2024, we’re already seeing our APAC business strengthen, which is great. The APAC business tends to go down sooner and return faster, so hopefully, this is a harbinger of good things to come.
I’m also excited about the business in general because I think there’s an enormous opportunity for growth in this industry. If we can continue to grow our customer base the way that we have been, the demand will be there.
Overall, we’re in a great space, and the electronics world will continue to advance in all aspects of business, from med tech to aerospace to automotive and everything in between.