DISTRIBUTION
Accelerating European Progress in 2024
Digikey’s vice president of global business development, Mike Slater, offers engineers and designers a mid-year look at the electronics distribution market
T
he distribution market is in an interesting spot right now. We know the industry is amid a down cycle and we are seeing a lot of activity right now because when the industry slows down, people get aggressive about innovating and trying to come up with new products and solutions to stimulate demand. We expect to see signs of further design activity with more new product introductions and projects coming to fruition toward the year’s midpoint. Hopefully, by the end of the year, we will see reasonably increased demand for electronic components as technology evolves.
Supporting market action in Europe Digikey offers European customers the world’s largest selection of electronic components in stock and available for immediate shipment, so we can get products into the hands of customers in Europe in as little as 48 hours. Digikey wants to seed the EMEA market with the latest new product introductions from European suppliers.
and requirements, including product quality, brand authorisation, compliance with industry standards, reliability, liability insurance and the ability to meet customer demands.
Reliable and ever-evolving services Beyond the products that accelerate technology innovation, Digikey also supports engineers with a wealth of digital solutions publish hundreds of articles, blogs, webinars and videos on our website,
www.digikey.co.uk, and have other digital assets, such as our TechForum for problem-solving and
Maker.io site for projects and ideas.
We have also launched an Innovation Hub as a web immersive experience to help introduce engineers and designers to Digikey and our products and services. We also recently launched a new webpage dedicated to the industrial sector, which focuses on solutions for robotic arms, AGVs and conveyor
belts.
Digikey continues to invest in more robust and predictive web search functionality, higher inventory levels and increased automation in the Digikey warehouse, which experience.
Coming trends and strategies Wireless connectivity, industrial automation cross-architecture solutions and rapid prototyping are all key technology trends this year. The most talked-about trends recently are related to AI and data. Many companies are starting to scratch the surface and try change the way we do business long term. We are excited to help engineers, designers and makers accelerate progress in these spaces. In Europe, we continue to see clean automation and control, energy, automotive aerospace perform well. In the long term, we are very optimistic that the electronics business and industry will continue to proliferate in areas we have not seen in the past.
We want to emphasise how important the European region is to Digikey. This area always drives innovation and demand. This year, we are laser-focused on superior execution and customer experience for our European customers.
Last year, we added considerable inventory depth to offer the industry the widest product availability for immediate shipment and are thrilled with the customer response. We closed Q4 2023 with more than 10 percent more new customers than in Q4 2022. The customer growth we experienced at the end of 2023 corresponds directly with increases in new design activity we saw earlier in the year and is a positive sign for Digikey’s and the overall industry’s future.
24 SEPTEMBER 2024 | ELECTRONICS FOR ENGINEERS
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