ECIA January 2024 Survey: Strong Improvement in Electronic Components Industry
29-01-2024 | By ECIA
In this article, Dale Ford, Chief Analyst at ECIA, explores the growing optimism in the electronic components supply chain, as revealed by the latest ECST survey.
The January 2024 ECST survey results have brought a wave of optimism to the electronic components supply chain. Participants across all sectors reported significant improvements, setting a positive tone for the year. The overall component index, a critical measure of industry health, surged by over 20 points to 98, the highest in 21 months and nearing the positive growth benchmark of 100.
Key Highlights from the January 2024 ECST Survey
Overall Index: Jumped over 20 points to 98, indicating robust industry health.
Semiconductors: Remarkable growth with a 39-point leap, leading the index at 105.
Electro-Mechanical and Passive Components: Both segments saw double-digit improvements.
Despite this growth, the overall index's rise fell short of the 27.8-point improvement forecasted in December. However, surpassing the 20-point mark is a significant achievement, signalling a strong start to 2024. Survey respondents are optimistic, expecting the index to climb further to 107.4 in February.
Segment-Specific Insights:
Electro-Mechanical and Passive Components: Although they showed strong improvement, their growth was below expectations by 20 and 17 points, respectively.
Semiconductors: Exceeded expectations by over 24 points.
February Outlook: Semiconductors are predicted to reach a score of 117, with Electro-Mechanical components expected to cross the 100-point threshold.
The end-market index also showed solid improvement in January, albeit slightly less than the component index. Notably, sectors like Avionics/Military/Space, Medical, and Industrial scored above 100. The projection for February is optimistic, with almost every market expected to score above 100, pushing the overall end-market index to an anticipated 103.1.
ECIA Chief Analyst's Perspective:
“All three major segments achieved strong growth,” commented ECIA Chief Analyst Dale Ford. “Semiconductors delivered amazing results with a leap of nearly 39 points to top the index with 105 points. Electro-Mechanical components and Passive components both achieved double digit index score improvements in January.”
Accessing Industry Insights:
For a detailed understanding of these trends, the full summary report is available here. ECIA members can access more in-depth insights by logging in here. These reports are invaluable for grasping current market trends and future projections.
Non-members interested in the latest industry trends can purchase the ECST report at ECIA Reports. This report is crucial for staying informed in the rapidly evolving electronics sector.
