The Current State of the Electronics Industry
As economies prosper all over the world, the top 10 largest electronics companies in the world are contributing to stellar growth through the manufacturing, exports, imports, and sales of consumer electronics — the segment driving a vast majority of this growth. Aside from consumer electronics, the electronics industry is also divided into electric utilities and general electronics. Just how much is the electronics industry worth? The global market for electronic components is predicted to grow at a compound annual growth rate (CAGR) of about 5.6% from by 2024.
At the forefront of an evolving electronics market are companies like Apple, innovating with iPhones and Samsung with their Samsung Galaxy devices and the leading manufacturer of semiconductors for the global electronics market. Foxconn, from Taiwan, is also paving the way in the industry, changing the rules and disrupting the market through its contract electronics manufacturing services. Which of these companies will come out at the top of our largest electronics companies in the world list? This article will breakdown the top companies by revenue, in addition to the top electronics exporters and importers in the global market in 2020.
- Who are the largest consumer electronics companies in the world in 2020?
- Who is the largest electronics manufacturing company in the world?
- Electronics industry trends and stats you should know.
- What’s the future of the Electronics industry?
- Which countries are the world’s top electronics exporters?
- Which countries are the world’s top electronics importers?
- If you’re looking to discover and evaluate electronics manufacturing companies, you can do so here.
BizVibe’s platform offers best-in-class supplier monitoring and sales intelligence tools for thousands of public and private electronics companies, including key market participants such as Samsung, Hitachi, and Sony. Each company profile offers 50+ unique insights highlighting key products and services, risk of doing business, industry opportunities, key executive information, competitor insights, and much more.
Electronics Industry Trends and Stats
- In 2020, revenue in the consumer electronics segment amounted to USD 426,238 million.
- The largest driver for increased revenues will be the replacement of existing electronic appliances due to newer and more technologically advanced versions.
- Product design outsourcing and contract services remain popular in the B2B world, with Taiwan making advances in that area.
- Robotics and automation are taking over for a large chunk of electronics manufacturing — over 1.2 million industrial robots are expected to be deployed by 2025.
- Household appliances are being integrated with smart applications and IoT. Such as LG’s homechat, an app that enables the user to monitor their refrigerators
Top 10 Largest Electronics Companies in the World by Revenue in 2020
Who are the top 10 largest electronics companies in the world as of 2020? The following is a list of top electronics manufacturers ranked by their revenue figures in USD billion.
Revenue (USD billions)
|2||Samsung Electronics||221.6||South Korea|
|3||Hon Hai Precision Industry||175.62||Taiwan|
|10||LG Electronics||54.39||South Korea|
1. Apple Inc.
Who is the largest electronics manufacturing company in the world? Apple is the largest electronics company in the world by revenue, generating a total of USD 260.17 billion in revenue in 2019. As a leader among the largest electronics companies in the world, this American multinational technology company based in California designs, develops, and sells consumer electronics, computer software, and online services. Apple’s flagship product is the iPhone, a game-changer, and an industry pioneer in the world of smartphones. Apple is considered one of the Big Four technology companies, along with Microsoft, Google, and Amazon. Apple became the world’s first company to record a market capitalization of $1 trillion, and subsequently passed the $1.3 trillion threshold in Dec. 2019. To put it in perspective. that number is larger than entire economies — only 14 countries have annual GDP figures greater than Apple’s market cap.
In addition to iPhones, the company is also known for designing, developing, manufacturing, and selling a wide array of consumer electronics products including the tablet iPad, Mac personal computers and laptops, iPod, Apple Watch, Apple TV, AirPods, Homepods, and many more. Apple is recognized for innovation, as many of their products changed existing markets forever. Apple ranks number 1 on our list of the top 10 largest electronics companies in the world in 2020 due to its immense revenue and influential status in the electronics industry.
- Founded: 1976
- Apple Headquarters: Cupertino, California, United States
- Apple Revenue: USD 17 billion
- Apple Number of Employees: 137,000
Apple Electronics Products
- iPhone smartphone
- iPad tablet computer
- Mac personal computer
- iPod portable media player
- Apple Watch smartwatch
- Apple TV digital media player
- AirPods wireless earbuds
- HomePod smart speaker
Samsung Electronics is the 2nd largest electronics company in the world with a revenue of USD 221.6 billion generated last year. Samsung is a South Korean multinational electronics company headquartered in South Korea and best known as one of the world’s largest electronics manufacturers of consumer electronics and semiconductors. The company manufactures electronic components such as lithium-ion batteries, semiconductors, chips, image sensors. Samsung is also the world’s largest manufacturer of mobile phones and smartphones, known for its flagship Samsung Galaxy product line of smartphones. The company also created the phablet market with its line of Samsung Galaxy note devices.
Samsung Electronics is 2nd on this list of top 10 largest electronics companies due to its stellar revenues, wide-array of electronics manufacturing capabilities, and innovation in the market. Samsung is also the world’s 2nd largest technology company by revenue, behind only Apple.
- Founded: 1969
- Samsung Headquarters: Suwon, South Korea
- Samsung Revenue: USD 221.6 billion
- Samsung Number of Employees: 320,671
Samsung Electronics Products
- LCD and LED panels
- Mobile phones
- Solid-state drives
Ranking 3rd on BizVibe’s list of the top 10 largest electronics companies in the world in 2020 is Taiwanese multinational electronics manufacturer Hon Hai Precision Industry — also known as Foxconn. Foxconn is the largest private employer in Taiwan and the largest provider of electronics manufacturing services in the world. In 2019, Hon Hai Precision Industry generated revenues of USD 175.62 billion. The company was founded in 1974 by Terry Gou and is currently known for manufacturing electronic products for major American, Canadian, Chinese, Finnish, and Japanese companies. Foxconn is famous for developing iPhones, iPads, Nintendo 3DS, Kindle, Playstation consoles, and many more. The company has international operations in China, the USA, Brazil, Europe, Mexico, Japan, India, Malaysia, and South Korea.
- Founded: 1974
- Foxconn Headquarters: Tucheng District, New Taipei
- Foxconn Revenue: USD 175.62 billion
- Foxconn Number of Employees: 803,126
Foxconn’s Major Customers
- Acer Inc. (Taiwan)
- com (United States)
- Apple Inc. (United States)
- BlackBerry Ltd. (Canada)
- Cisco (United States)
- Dell (United States)
- Google (United States
- Hewlett-Packard (United States)
- Huawei (China)
- InFocus (United States)
- Intel (United States)
- Microsoft Corp. (United States)
- Motorola Mobility (United States)
- Nintendo (Japan)
- HMD Global (Under Nokia Brand) (Finland)
- Sony (Japan)
- Toshiba (Japan)
- Vizio (United States
- Xiaomi (China)
Huawei is a Chinese multinational technology company that specializes in manufacturing and selling consumer electronics and telecommunications equipment. Huawei was founded in 1987 and is currently headquartered in Shenzhen, China. In 2019, Huawei brought in annual revenues of USD 122.97 billion, ranking 4th in revenue generated among the top electronics companies on this list. Huawei sells its products in over 170 countries and recently overtook Apple as the second-largest smartphone manufacturer in the world behind only Samsung. With a 20% market share, Huawei is China’s largest smartphone seller.
- Founded: 1987
- Huawei Headquarters: Shenzhen, China
- Huawei Revenue: USD 122.97 billion
- Huawei Number of Employees: 194,000
- Mobile and fixed broadband networks
- Multimedia technology
- Tablet computers
- Smart TV
Ranking 4th on this list of the top electronics companies is Dell Technologies, an American multinational technology company headquartered in Round Rock, Texas. Dell is known for a robust electronics product line including personal computers, servers, smartphones, televisions, computer software, computer security, and network security, as well as information security services. Unlike some of the other global brands on this list, approximately 50% of Dell’s revenue is generated from the American market.
Dell currently operates under 2 divisions: the Dell Client Solutions Group (which accounted for 49% of 2019 fiscal revenues) manufactures desktops, notebooks, tablets, and peripherals, such as monitors, printers, and projectors under the Dell brand name. The 2nd division operating under Dell is Dell EMC Infascture Solutions Group.
- Founded: 2016 (through merger)
- Dell Headquarters: Round Rock, Texas
- Dell Revenue: USD 90.62 billion
- Dell Number of Employees: 157,000
Dell Electronics Products
- Personal computers
- SAN storage
- NAS storage
Ranking 6th on this list of the largest electronics companies in the world by revenue in 2020 is Hitachi, a Japanese multinational conglomerate company headquartered in Chiyoda, Tokyo, Japan. The company is known for manufacturing a diverse line of products from aircraft engines to LCD TVs. In 2019, Hitachi generated ¥9.480 trillion or USD 88.42 billion — making the giant one of the top electronics companies in the world.
- Founded: 1910
- Hitachi Headquarters: Hitachi, Ibaraki, Japan
- Hitachi Revenue: USD 88.42 billion
- Hitachi Number of Employees: 307,275
- Medical electronics equipment
- Power tools
- Test and measurement equipment
Sony ranks 7th on this list of largest electronics companies in the world. Sony is a Japanese multinational conglomerate corporation headquartered in Kōnan, Minato, Tokyo. The company operates various divisions including professional electronics, gaming, entertainment, and financial services. Sony is also known for its footprint in the music business, owning the largest music entertainment business in the world. Sony is the world’s 5th largest television manufacturer and popular for its Sony PlayStation line of video game consoles.
In 2019, Sony generated annual revenues of USD 80.92 billion — making the Japanese electronics company one of the biggest electronics companies in the world.
- Founded: 1946
- Sony Headquarters: Minato, Tokyo, Japan
- Sony Revenue: USD 80.92 billion
- Sony Number of Employees: 114,400
Sony Electronic Products
- Consumer electronics
- Video games
- Computer hardware
- Telecommunications equipment
Panasonic is 8th on this list of the largest electronics companies in the world by revenue in 2020. Panasonic is a Japanese multinational electronics corporation headquartered in Kadoma, Osaka, Japan, and last year generated revenues of USD 74.73 billion — making Panasonic one of the biggest electronic companies in the world.
- Founded: 1918
- Headquarters: Kadoma, Osaka, Japan
- Panasonic Revenue: USD 74.73 billion
- Panasonic Number of Employees: 273,858
Panasonic Electronics Products
- LCD projector
- Digital camera
- DVD player
- Home appliance
- Desktop computer
- Video game console
- Computer hardware
Ranking 9th on this list of the top 10 largest electronics companies in the world is Intel, an American multinational corporation and technology company headquartered in Santa Clara, California, in Silicon Valley. Based on just its semiconductor division, Intel used to be the world’s largest semiconductor company in the world and was also the highest valued chip making company in the world. Intel manufactures motherboard chipsets, network interface controllers, and integrated circuits. Some of its most popular products include high-end Intel CPUs such as the i7 line of CPUs like the intel 9900-K CPU.
Intel is a global computer chip supplier to leading technology companies such as Apple, Lenovo, HP, and Dell. Intel’s revenue surpassed USD 71.9 billion last year — making it one of the top electronics companies in the world by revenue in 2020.
- Founded: 1968
- Intel Headquarters: Santa Clara, California, USA
- Intel Revenue: USD 71.9 billion
- Intel Number of Employees: 110,200
Intel Electronics Products
- Central processing units
- Integrated graphics processing units (iGPU)
- Systems-on-chip (SoCs)
- Motherboard chipsets
- Network interface controllers
- Mobile phones
- Solid-state drives
- Wi-Fi and Bluetooth Chipsets
- Flash memory
- Vehicle automation sensors
10. LG Electronics
Rounding out BizVibe’s list of the top 10 largest electronics companies in the world is LG Electronics, South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea, a division under LG Corporation. LG Electronics is the world’s second-largest LCD television manufacturer. In 2019, LG Electronics brought in annual revenues of USD 54.39 billion.
- Founded: 1958
- LG Electronics Headquarters: Seoul, South Korea
- LG Electronics Revenue: USD 54.39 billion
- LG Electronics Number of Employees: 72,600+
LG Electronics Brands
- Mobile phones
- Smart Watches
- Home Appliances
This is BizVibe’s list of the top 10 largest electronics companies in the world in 2020, ranked by revenue. These companies are changing the way consumer electronics get in the hands of its core users by providing cutting edge technology, combined with the seamless integration for the modern landscape. Find out more about these companies today, and their product offerings.
Top Electronics Exporters by Country
Where do your electronics come from? Here are the top 10 countries your electronic products are exported from. These are nations where you want to build strong B2B connections for electronics manufacturing
Exports (USD billions)
Source: International Trade Centre
- In 2017, world electronics exports were US$2.557 trillion.
- China accounts for nearly a quarter of all electronics exports in the world.
- Asia exported $1.665 trillion worth of electronics in 2017.
- The USA exports 6.8% of the world’s electronics products.
Top Electronics Importers by Country
Which countries import the most electronic products annually? These are the countries most interested in the buyer’s side of trading electronics products.
Imports (USD billions)
Source: International Trade Centre
- In 2017, world electronics imports totaled USD 2.736 trillion.
- China imports 16.6% of the world’s electronics products.
- The USA imports 13% of the world’s electronics products.
- Asia imported $1,375 billion worth of electronics – the highest electronics importing region.
The Future of the Global Electronics Industry
The industry is changing and is more connected and integrated than ever before. We are seeing newer and more advanced technology replacing older technology at a rapid pace, leading to consistent annual growth and promising expectations in the future. In the B2B world, outsourcing and contract manufacturing services are taking over as its less costly in certain parts of the world to manufacture electronic components.
China leads the way as a nation in production, exports, and imports of electronics products. Apple and Samsung remain the largest electronics companies in the world by revenue generated. Apple surpassed the highly sought after 1 trillion market capitalization figure, becoming the first company to do so. The future for the industry looks bright as long as the top 10 largest electronics companies in the world continue to innovate and push the industry forward.