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Electrical And Electronics Market Revenue Outlook: What CAGR Is Expected Through 2030?
The electrical and electronics market size has experienced significant expansion in recent years. It is anticipated to expand from $4064.37 billion in 2025 to $4302.84 billion in 2026, achieving a compound annual growth rate (CAGR) of 5.9%. The market’s historical development can be attributed to several factors including initial industrial electrification and automation, an increase in global electronics manufacturing, the growing need for power distribution equipment, the proliferation of household and commercial electronics, and advancements in instrumentation for industrial monitoring.
The electrical and electronics market is anticipated to experience robust expansion over the coming years. This market is projected to reach a size of $5610.71 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.9%. The expansion during the projection period stems from several factors, including the rising integration of smart sensors and sophisticated control systems, a growing demand for accurate measurement in modern manufacturing, the proliferation of renewable energy initiatives necessitating electrical apparatus, an increase in B2C electronics usage, and expedited enhancements in industrial automation. Key trends anticipated during this period encompass a heightened requirement for advanced measuring and control devices, greater variety in consumer electronics, wider embrace of energy-saving electrical gear, an increase in post-sales maintenance and improvements, and an expanding inclination towards multi-functional electronic goods.
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Electrical And Electronics Market Growth Drivers: What Factors Are Accelerating Expansion?
The expanding volume of Internet of Things (IoT) devices is projected to boost the expansion of the electrical and electronics market in the coming years. IoT, or the Internet of Things, describes a connected system of physical items equipped with sensors, software, and other technologies, enabling them to gather and share data with other devices and systems via the internet. These devices facilitate real-time oversight and control of electrical and electronic systems, thereby guaranteeing uniform quality in electronic components and products. For example, data from March 2023, provided by Exploding Topics, a US-based online platform focused on emerging and trending topics, indicates that the number of IoT devices is expected to reach 25.4 billion by 2030. Consequently, the rising quantity of IoT devices is stimulating the development of the electrical and electronics market moving ahead.
Electrical And Electronics Market Segmentation: How Is The Market Structured Across Key Categories?
The electrical and electronics market covered in this report is segmented –
1) By Type: Electrical Equipment, Measuring And Control Instruments, Electronic Products
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By End-Use: B2B, B2C
Subsegments:
1) By Electrical Equipment: Switchgear, Transformers, Circuit Breakers, Relays, Distribution Boards
2) By Measuring And Control Instruments: Multimeters, Oscilloscopes, Analyzers, Pressure Sensors, Temperature Sensors
3) By Electronic Products: Consumer Electronics, Industrial Electronics, Medical Electronics
Electrical And Electronics Market Innovation Trends: Which Developments Are Transforming The Industry?
Companies operating in the electrical and electronics market are increasingly focusing on developing innovative solutions, such as electric vehicles (EVs), to satisfy the growing need for sustainable and energy-efficient transportation. Electric vehicles are automobiles powered by electric motors using rechargeable batteries instead of conventional fuel engines, which helps in reducing greenhouse gas emissions, decreasing operating costs, and fostering cleaner, more energy-efficient travel. For instance, in November 2025, SUGS LLOYD Ltd., an India-based technology-driven engineering and construction company, introduced Vyna Electric, a state-of-the-art electric vehicle designed specifically for urban commuting. The Vyna Electric is equipped with a high-efficiency lithium-ion battery, a lightweight chassis, and an advanced energy management system, allowing for a longer range and faster charging compared to conventional EVs. Its design prioritizes safety, durability, and user-friendly operation, making it suitable for both personal use and fleet applications. This launch underlines the shift towards greener mobility solutions and demonstrates SUGS LLOYD’s commitment to progressing EV technology.
Electrical And Electronics Market Competitive Landscape And Leading Companies
Major companies operating in the electrical and electronics market are General Electric Company (GE), Siemens Aktiengesellschaft (Siemens AG), Schneider Electric SE, ABB Ltd., Mitsubishi Electric Corporation, Panasonic Corporation, LG Electronics Inc., Samsung Electronics Co., Ltd., Sony Corporation, Hitachi, Ltd., Toshiba Corporation, Koninklijke Philips N.V. (Philips), Robert Bosch GmbH (Bosch), Texas Instruments Incorporated, Intel Corporation, STMicroelectronics N.V., Infineon Technologies AG, Honeywell International Inc., Rockwell Automation, Inc., Emerson Electric Co.
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Electrical And Electronics Market Regional Outlook: Where Are The Largest Opportunities Located?
Asia-Pacific was the largest region in the electrical and electronics market in 2025. North America was the second largest region in the electrical and electronics market. The regions covered in the electrical and electronics market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.