Japanese consumer electronics and information technology companies appear to be quite bullish on 2015 and have put plans in place to boost production levels, according to Japan Electronics and Information Technology Industries Association. The association released the results of an industry-wide survey earlier this week that show the stage is set for another year of growth.
See more on the plans of Japan’s TECH companies…
The survey by JEITA is conducted annually for the purpose of compiling the production forecasts for a global estimate of the electronics and IT industries. This survey also considers the value of IT services in the total.
According to a report on the survey by the Nikkei, the global forecast came in at ¥41.9 trillion ($353 billion) which was 3% higher than the production level in 2014. The 2015 forecast is the third straight year of growth in Japan.
In an interesting data point, JEITA noted that the forecast level for 2015 is “a high level of production.” But it hastened to add that the rate of growth is actually moderating.
The Nikkei noted that the global electronics and IT industries are forecasting a 5% growth for 2015, the fourth straight year of growth. So this means that Japan’s growth rate is actually a little more moderate than that for the rest of the world.
Finally, the report noted that electronic components are expected to show solid growth in 2015…especially those targeted for smartphones and cars. Estimates for growth in smartphone displays are for a 10% growth globally.