Over the past two years, the demand for electronics and personal and commercial computers has grown tremendously, thanks to the remote culture. With many companies shifting their work online, people worldwide have been upgrading their personal computers and laptops to be able to work from home. According to Gartner, the worldwide PC shipments increased 4.8% year-over-year in 2020 and 10% year-over-year in 2021.
As the semiconductor shortage eases with massive private and federal investments, the demand for electronics and computers is expected to continue to rise over the long term. Also, the growing adoption of smart home appliances and digitization in virtually every industry will likely fuel the industry’s growth over the long term. According to Precedence Research, the consumer electronics market size is projected to reach$1.13 trillion by 2030, growing at a 5.1% CAGR.
