OPPORTUNITIES galore!
Wearable electronics market $103.2 billion opportunity by 2027
The global market for wearable electronics was estimated at $24.4 billion in the year 2020. It is projected to reach $103.2 billion by 2027, growing at a CAGR of 22.9 percent over the period 2020-27. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $12.3 billion by the year 2027. Among the other noteworthy geographic markets are Japan and Canada, which are expected to grow at 20.8 percent and 19.5 percent, respectively, over the 2020-27 period.
High-speed e-scooters saw 47% growth in 2020-21
The high-speed e-scooter segment has witnessed a growth of 47% in 2020-21 fiscal, despite overall sales having lowered by 5.4 percent. High-speed electric two-wheelers are models with a speed above 25km/h. Low-speed (up to 25km/h) electric twowheelers, on the other hand, witnessed a decline of 17.9 percent vis-à-vis FY2020. In 2020-21, 34 new models of electric twowheelers were launched including 19 low-speed ones.
Portable lithium power packs market growing fast
The global portable lithium power packs market size is expected to reach $282 million by 2028. It is expected to expand at a CAGR of 13.2 percent from 2021 to 2028. With the improvement in battery technology, coupled with the increasing demand for portable power packs from the consumer electronics sector for powering notebooks, mobiles, tablets, and other smart devices, the demand for portable lithium batteries is anticipated to grow over the forecast period.
Growing EV charging stations market offers great opportunity
The electric vehicle (EV) charging stations market is expected to reach a value of $103.6 billion by 2028, at a CAGR of 26.4% during the period of 2021-28. By volume, the EV charging stations market is expected to reach 11,647.5 thousand units by 2028, at a CAGR of 31.1% from 2021. In 2021, the hardware segment is estimated to account for the largest share of the overall EV charging stations market.
5G to form 26% of India’s mobile subscriptions by 2026
5G will represent around 26% of mobile subscriptions in India by the end of 2026, estimated at about 330 million subscriptions. 4G remained the dominant technology in 2020, accounting for 61% of mobile subscriptions. 4G subscriptions are forecast to rise from 680 million in 2020 to 830 million in 2026, increasing at a CAGR of 3%. The technology will continue to be dominant, representing 66% of mobile subscriptions in 2026, with 3G being phased out by that time.
$25.78 billion growth expected in global LED market
The LED market is expected to grow by $25.78 billion during 2020-24. The LED market is driven by the declining manufacturing cost of LEDs. The growing number of households and increasing urbanisation are expected to trigger the LED market toward witnessing a CAGR of almost 13% during the forecast period. LED Lights is one of the fastest growing businesses in the world, and India is considered the second biggest consumer of these lights.