Industry Survey Shows Chinese Mainland, Middle East & ASEAN as Most Promising Emerging Markets
HONG KONG – (ACN Newswire) – The 38th HKTDC Hong Kong Electronics Fair (Autumn Edition) and the 22nd electronicAsia concluded today, attracting close to 87,000 buyers from 139 countries and regions over a four-day period. Buyer attendance grew from a number of countries and regions including mature markets such as Canada, Italy, Singapore, Taiwan and the UK, and emerging markets such as Brazil, the Chinese mainland, India, Indonesia, Malaysia and Russia. More than 63,500 buyers visited the Autumn Electronics Fair while over 23,400 visitors attended electronicAsia. The Electronics Fair was organised by the Hong Kong Trade Development Council (HKTDC), while electronicAsia was jointly organised by the HKTDC and MMI Asia.
HKTDC Deputy Executive Director Benjamin Chau said: “In the face of global economic uncertainty, Hong Kong companies are pushing to strengthen R&D and develop new technologies in a bid to launch innovative electronic products. At the two fairs, we saw how they are successfully applying advanced technologies such as artificial intelligence (AI) and augmented reality (AR) to a wide range of electronic products, attracting the attention of global buyers. Thematic zones at the fairs, such as the Tech Hall and Hall of Fame, helped to meet the needs of the industry while a series of events at the Autumn Electronics Fair helped to introduce the products and technologies of start-up companies to potential buyers, partners, investors and the media, assisting them to capture new business opportunities.”
The HKTDC commissioned an independent survey during the fair period, interviewing a total of 1,043 exhibitors and buyers on the outlook for the electronics market and new product trends. Some 60% of respondents said the recent Sino-US trade friction has had a negative effect on their export performance. Around 40% of respondents said they expect their company’s overall sales to grow this year – 13 percentage points lower than the proportion that gave the same response in 2017. In terms of markets with growth prospects, survey respondents view Japan as the most promising traditional market (75%), followed by South Korea (73%) and Western Europe (72%), while the Chinese mainland (77%), Middle East (76%) and ASEAN countries (76%) are seen to have the best prospects among emerging markets.
In terms of product trends, the survey reveals that audio-visual products (17%) have the most growth potential in 2019, followed by electronic/electrical accessories (14%) and digital imaging (9%). For AR and virtual reality (VR) devices, almost 80% of respondents are optimistic about the market development in the next two years, while most respondents think that mobile and online games (57%) and audio-visual entertainment devices (45%) have the largest market potential. For robotics applications, 67% of respondents say they are optimistic about market developments in the next two years, with entertainment purposes such as toy robots (40%) having the largest market potential, followed by home applications such as vacuum cleaners (36%) and medical applications such as rehabilitation treatments (24%).
Spotlighting AI and Other Innovations
The Tech Hall at the Electronics Fair featured five thematic zones, including Robotics & Unmanned Tech, Smart Tech, Virtual Reality, 3D Printing and Startup zones. First-time exhibitor Tuya Global showcased its AI solutions for smart home appliances and lighting products, hoping to expand its overseas markets. Morgan Fang, Business Development Manager of Tuya Global, said: “Many buyers want to upgrade their traditional products into smart products. We established connections with new buyers from Europe, North America and Southeast Asia during the fair and are now discussing cooperation plans.”
Taiwanese start-up exhibitor Serafim Technologies showcased a virtual laser projection keyboard that attracted a lot of attention from buyers. GZ Chen, CEO of the company, said they have met with new buyers from Hong Kong, the Chinese mainland, Southeast Asia, Germany, Italy and Russia, and have secured orders for a total of 5,000 sets. He said the business results from the fair were very encouraging.
Under the theme “AI Empowerment – Grow without Limits”, the Symposium on Innovation & Technology featured representatives from the Hong Kong Applied Science and Technology Research Institute (ASTRI), Cisco, Deloitte, IBM, Microsoft, Pfizer and SenseTime. They discussed how AI can empower organisations and affect the employment picture, as well as some of the challenges associated with AI implementation. The symposium attracted more than 1,260 participants.
Buyers Place On-the-spot Orders
Australian buyer Jaka Exstrada took part in the Autumn Electronics Fair for the first time. He identified six potential suppliers of advanced driver-assistance systems and breathalysers through the HKTDC business matching service, and plans to buy a container of products from each supplier after the fair. He has also placed an order with an existing supplier from the Chinese mainland for air quality products worth US$200,000.
At electronicAsia, Malaysian buyer CH Ooi placed an order worth up to US$60,000 for liquid-crystal displays (LCDs) and measurement instruments. He said that talks were also underway with several new suppliers from the Chinese mainland for GPS-related tracking devices, including sensors and cameras, and the potential orders could be valued up to US$200,000.
The Hong Kong Trade Development Council (HKTDC) is the dedicated to creating opportunities for Hong Kong’s businesses. With more than 40 offices globally, including 13 on the Chinese mainland, HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing business insights and information via trade publications, research reports and digital channels including the media room. Please visit www.hktdc.com/aboutus or follow us on Google+, Twitter@hktdc, LinkedIn.
Sunny Ng, Tel: +852 2584 4357, Email: firstname.lastname@example.org Joshua Cheng, Tel: +852 2584 4395, Email: email@example.com