Technology has profoundly changed the way that we live. From the moment we wake up to how we communicate and work with each other, electronic goods have become an inescapable part of our daily lives – providing benefits to our lives in ways that were once unimaginable – and a key focus of international fairs and exhibitions.
In 2023, the Consumer Electronics market alone is projected to reach a whopping one trillion US dollars with a Compound Annual Growth Rate (CAGR) of 5.7% until 2028. These growths are supported by the rapid advancements of technology and the shift to more digitalized lifestyles, such as the prevalence of remote work and dependence on digital healthcare.
Electronics Trend#1. Digital Healthcare
Ever since the pandemic, people have been paying attention to the importance of health more than ever. According to research, over 60% of individuals mentioned that the pandemic has made them more health-conscious and will attempt to live a healthier lifestyle, leading to a massive demand for electronics in digital health.
One of the forefronts of digital health is undoubtedly the rise of wearable technology. While using smartwatches to track basic personal health and exercise data is nothing new, many suppliers are creating smart medical devices that monitor data such as heart rhythms, glucose levels, blood pressure and hydration statistics. These devices are commonly linked with mobile applications that can help individuals with potential chronic diseases to detect abnormalities and can assist them in seeking medical help at early stages.
Electronics Trend#2. Smart Homes
More home automation is expected in the second half of the year – especially with the integration of home devices with Internet of Things (IoT). Based on market statistics, there will be 30.9 billion active IoT connections by 2025.
From smart appliances to smart security systems, smart home electronics are expected to skyrocket in the coming years, and this comes with no surprise. The ability to control aspects of a consumer’s home with the touch of a finger can save people a tremendous amount of time away from monotonous chores.
Electronics Trend#3. Metaverse & Extended Reality
While extended reality has been developing in the past years, it has not been successful enough to revolutionize mainstream technology so far. However, things are changing in 2023.
Various tech giants have stunned the industry in recent fairs and seminars with their announcements on extremely well-developed extended reality electronic products. It is expected that multiple big tech companies and start-ups will chip into the trend so that they can take part in this revolutionary market.
With many retail brands using the metaverse as part of their marketing strategy, products related to the metaverse or extended reality are expected to be an attention-grabbing buzzword for any modern-day consumer.
Connecting You to the World
When it comes to consumer electronics, change is happening so quickly that it is so easy to become outdated if businesses do not keep updated with current trends.
HKTDC’s Hong Kong Electronics Fair (Spring Edition) is back with the latest electronics. From 12 April to 15 April 2023, our electronics physical fair provides businesses countless opportunities to connect with industry leaders from each sector worldwide.
Whether you are interested in existing acclaimed electronic products, innovative start-up electronics with infinite potential, or electronics showcasing cutting-edge technology, HKTDC’s Hong Kong Electronics Fair has all the answers to your demands.
Power up your business and participate in one of the biggest electronic fairs by clicking the banner below:
At the same time, don’t forget to take a look at the latest electronics portfolio on our e-Marketplace: