NEWS
European Electronics Outlook: Heading into 2024 with Optimism
By: Ian Wallace, vice president of EMEA, DigiKey I
n the third quarter of 2023, DigiKey added over 40,000 new stocking parts, including 19,000 newly introduced products across our core business. We can look at order history and see signs that design activity is shifting from sourcing old designs to innovating new ones, which we’re excited about because this is a good sign for the overall industry. DigiKey has supported a surge of new product introductions across Europe this year in every industry from automotive to medical, industrial automation to consumer devices, and everything in between, driving business across the board. We are pleased to see this, and expect that innovation and growth to continue into 2024.
The electrification of everything is a key industry trend that has driven significant growth in 2023 and will continue to drive significant growth into the next year. Wireless connectivity, smart sensors, cross architecture
solutions and rapid prototyping will be key driving trends in the year to come as well, and we look forward to continuing to provide all the components and services necessary to accelerate progress. We are also anticipating strong demand for green technology in Europe, enabling the reduction of carbon footprints. Powering production with alternative energy sources,
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The shifting market demands for AI and machine learning,
including supercomputers and AI chips, is also something we’re keeping a close eye on as we move into the new year.
sustainable operations and more is shaping the next major leap forward for manufacturing.
As global demand continues to increase, automation technology has rapidly advanced to keep pace, especially at the intersection of sustainability and efficiency. For us, innovative partnerships with suppliers like Panduit and Schneider Electric illustrate our shared vision of a more sustainable future and ensure our customers have access to the products they need to accelerate progress.
DECEMBER/JANUARY 2024 | ELECTRONICS FOR ENGINEERS 9 ”
The shifting market demands for AI and machine learning, including supercomputers and AI chips, is also something we’re keeping a close eye on as we move into the new year. While the overall European supply chain has improved immensely, some key suppliers, semiconductors in particular, are still short of our industry best in-stock goals. We anticipate lead times will continue to come down in 2024.
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