The global economy is constantly changing with the emerging electronic technologies and the electronic component industry is at the core of this transformation. According to Global Industry Analyst Inc., the global market for electronic components is expected to reach US$ 191.8 billion by 2022, by when Asia Pacific will have the dominant share of the pie. Following this global trend, the Indian electronic components market is also poised to grow significantly. This growth will be driven by rising local demand and growing disposable incomes. An increased demand in component has given rise to online component distribution and supply in the market. As per industry reports, there are some major players in distribution industry which claims to have 50 Lakh+ products available online from top manufacturers in worldwide.
The industry is going through an exciting phase with growth in demand due to the central role played by electronics in every aspect of our lives, the revolutionary changes in technology, the launch of innovative products and the challenge of global competition.