2020 was a tough year for all of us, including almost every industry around the world. And despite the spike in at-home workers (and free time), the electronics industry felt the COVID-19 pandemic just like everyone else. Thankfully, 2021 is offering a new ray of hope with the introduction of the vaccine and other positive international developments. This year is expected to play an essential role in shaping the electronics industry’s technological advancements for the foreseeable future.
In this article, let’s explore the trends you can expect from the electronics industry in 2021.
Focus on Corporate Social Responsibility (CSR)
As the world saw more deaths in 2020 than in the last decade combined, companies are coming forward to do their part in making this planet more livable. As a result, corporate social responsibility or CSR is gaining tremendous traction in the industry. Here’s what to expect:
– CSR programs will focus more on ethical supply chains and materials.
– In addition to employees and customers, even shareholders will favor companies and enterprises with realistic CSR commitments (bonus points if they’re making positive contributions to the environment).
– The talent pool will favor companies with a sense of fundamental responsibility.
Increased Efforts for 5G
The pandemic slowed down the deployments of 5G in 2020, but 2021 will prove to be an important milestone. It is expected that this year, 5G will move beyond speeding up smartphones and onto more comprehensive purposes, such as improved healthcare practices.
We should also see increased deployment of 5G networks, improving the global energy and financial infrastructures.
Autonomous Vehicle (AV) Deployment Will Continue to Advance
The pandemic hit the automotive sector hard. But it’s expected that the industry will get back up to speed in 2021. The sales of electronic vehicles (EV) are predicted to increase this year as well.
Experts predict that AV investment will speed up in the first half of 2021, potentially catching up to the EV market. And the US is expected to follow the advancements in AV and EV deployments with the change in the presidential administration, which is in favor of these technologies.
Focus on IoT
Although IoT has been with us for some time now, it will continue to enjoy the limelight this year. Since IoT devices enable remote monitoring, they have proved to be highly beneficial during the pandemic.
As semiconductors form the basics of electronics technology today, the sector could rebound quickly from the crisis, and it is expected that it will enjoy high year-on-year growth this year.
The Bottom Line
All in all, we are hopeful that 2021 will be a bright year for the electronics industry. Many of the projects that were stalled in the year 2020 due to pandemic and other disturbances will finally resume and contribute positively to humankind’s growth and development.