What They Say
The GFU in Germany published data that showed the impact of the Coronavirus on the global and regional home electrical/electronics markets in 2020. Overall, spending was up 3.2% to $1.26 trillion in 2020 after declining 2.4% in 2019. There were big sectoral and regional differences. Telecom products were down 6% and CE (including photography) we down 3%, but large appliances were up 5% and small appliances were up 15%. IT & Technical products were the star category, up 22%.
Europe was up 12% to $343 billion, while North America was up 3% to $262 billion. MEA grew just 2% to $74 billion while APAC was down 1% to $503 billion. Latin America was down 3% to $78 billion.
What We Think
The ratios between these numbers could be quite useful if you are thinking about how technology markets might split around the world. It has changed a lot over my time. When I started as an analyst, an experienced market analyst from a big name firm gave me the advice that for most technology markets were 40% US, 40% Europe and 20% Japan. Not any more. (BR)
