Market Trends of High-tech Logistics Industry
This section covers the major market trends shaping the High-tech Logistics Market according to our research experts:
Growth in the High-tech Industry
The technology industry has been a catalyst for change for global enterprises, delivering innovative solutions and business impact to help them become more competitive. Innovation and technology transformation is happening across the sectors in manufacturing, transportation, healthcare, BFSI, social impact, government, and other verticals. Technology will play a critical role as an enabler for growth in governance, social paradigm, and various other sectors. With a growing semiconductor consumption and acceleration in electronics manufacturing activities, several hotspots have emerged in this segment supported by the high-tech and electronics segment.
Key products in the high-tech consumer goods segment demanding flexible, sensitive, and transparent transportation solutions include mobile phones, tablets, LED lights, and flat panel display products.
China is the Largest Market
China is the largest producer and exporter of consumer electronics in the world. It has the world's most extensive electronics manufacturing units and supply chain exceeding Japan with more than five times the electronics suppliers and a huge labor force of manufacturing workers. Electronics is a sector that is constantly evolving in response to trends, market changes, and advanced technology. Products under this sector easily become obsolete due to rapid product development and paced production. China's production parallels more than one-third of the global consumer electronics manufacturing productivity. China accounts for a value of about USD 1.09 billion, which was about 42% of the total exports of China in the year 2019. However, the actual value is expected to be significantly higher considering that exports through Hong Kong usually originate from Mainland China.
