The global market for electronics may grow by 5 percent to $2.24 trillion in 2010, according to industry experts. This is expected as economies rebound from the current recession.

The market for electronics and communications equipment, measured by shipment value will expand for the first time in three years. But it will remain 15% below the 2007 level.

Governments all over the world have committed over $2 trillion to enhance economic growth. For instance China is spending $586 million to push up rural sales of consumer electronics. The Japanese government has spent 20 trillion yen to implement measures to encourage sales of energy efficient appliances.

Some of the trends in the market are

• The disappearance of old technologies: analogue products such as VHS, analog cassette decks and camcorders left the market. The change from analogue to digital has changed the nature of the consumer electronics market. Televisions were replaced by mobile phones as the top product.
• Falling retail prices entice consumers: emerging product sub sectors like Digital TV and projectors experienced rising retail sales as their falling prices attracted consumers to buy them. Increased competition, cheaper technology costs and lower duties brought many advantages to the buyers of consumer electronics.
• There has been a significant growth in the replacement market for consumer electronics especially television. This growth is fuelled by development of technology and reduction in costs.
• Another trend is shifting attention to rural markets. Leading companies are reviewing their rural marketing strategies. They are launching attractive finance and gift schemes to lure rural customers.
• High growth sub sectors include DTH broadcasting, portable DVD players and Digital TV. Mobile phones sales are expected to grow fuelled by rural demand.

Thus the buying of Electronics products have increased manifold due to increased demand.