The market for all types of electronic equipment will continue to grow in 2007, one research firm predicts, propelled by accelerated by data processing, consumer electronics and wired communications segments.
Following revenue growth of 6.6 percent in 2006, global revenue for all electronic equipment will grow by 6.7 percent, analysts at iSuppli predicted on Wednesday, reaching $1.47 trillion in 2007, up from $1.37 trillion the year before.
The electronic equipment market will hit on all six cylinders for the year, with all major segments of the industryâ€”data processing, wired communications, wireless communications, consumer, automotive and industrialâ€”expanding in 2007, said Gary Grandbois, principal analyst with iSuppli. This will underpin the broad-based growth in the market.
The firm believes the fastest-growing segment will be data processing for 2007, which is also the largest part of the equipment industry, representing 28.8 percent of total electronic equipment revenue. Data processing revenue will rise to $421.7 billion in 2007, up 9.1 percent from $386.6 billion in 2006.
The second-fastest growing segment will be wired communications, which will expand to $101.4 billion in 2007, up 7.2 percent from $94.6 billion in 2006.
Consumer electronics will come in third, with its revenue increasing to $327.2 billion, up 6.4 percent from $307.6 billion in 2006.