CEO Insights Magazine

The consumer market in Asia Pacific is swiftly rising to become the most influential in the world. Over the next 10 years, APAC is expected to surpass North America in terms of consumer market. A recent report from Bain & Company and NielsenIQ concludes that private consumption in APAC will grow will increase at a continuous rate of seven percent yearly, reaching around $36 trillion by 2030. With global consumption set to nearly double, the growth in APAC is being driven by the growth of the middle class, increased digital adoption, and changing consumer trends. The region's recent performance indicates a strong upward trend.

As the region moves towards greater growth, some of the strongest sectors going forward will be consumer electronics, industrial electronics, electric vehicle, semiconductor and consumer internet among others.

China, Japan, and South Korea are at the forefront of the consumer electronics industry in Asia, with China being the leader in production and exports. Meanwhile, Japan and South Korea are known for their advancements in innovation, research and development, as well as their well-established global brands.

Asia is at the forefront of the global industrial electronics sector, propelled by China, as well as Southeast Asian countries such as Malaysia and India, which emphasize automation, IoT, power electronics.

Such strong market winds are propelling the Asian region towards a stronger growth trajectory in the years to come. Read all about this growth phenomenon in the current edition of CEO Insights Asia magazine. We delve deep into each industry and look at the nations powering the industry’s growth.

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