Most of the gadgets we use and interact with daily have an electronic component. According to the Department of Statistics, the wholesale trade sector for electronic components contracted by 1.3 per cent domestically in 2020 while foreign wholesale trade grew 33.5 per cent in spite of COVID-19.
Overview
An electronic component is any physical entity in an electronic system used to affect electrons or their associated fields. Electronic components are mostly industrial products, having two or more electrical terminals (or leads) aside from antennas which may only have one terminal. These leads connect to create an electronic circuit with a particular function (for example an amplifier, radio receiver, or oscillator). Basic electronic components may be packaged discretely, as arrays or networks of like components, or integrated inside of packages such as semiconductor integrated circuits, hybrid integrated circuits, or thick film devices.
Singapore is a multinational electronic components marketplace. There are many wholesalers of electronic components in Singapore, both local and foreign. The well-known local wholesalers of electronic components include Serial Systems, Excelpoint and iConnexion while the big foreign players are Arrow, Avnet, WPG Electronics, Future Electronics, and Digi-Key Electronics. These are also top 5 in the world. Many of these wholesalers also provide technical support and logistic planning for bulk purchases. Some boast of a huge selection in stock and ready to ship with no minimum orders.
Transforming the Sector
Most of the big players in this sector have already launched their online stores to facilitate the purchase of their components 24/7 and across countries. Buyers are provided an online account where they are able to see their order history, track their orders online, obtain quotes and get advice regarding the new components they are interested in. When it comes to the backend operations, there are great opportunities to further automate the repetitive processes involved in order management, fulfillment, and inventory management.
The future of technology is in high-value electronics - vital in our connected economy. New applications bolstered by AI and IoTs are expected to drive greater diversity of demand for electronic components. The way forward is intelligent and integrated digitalization of processes and inventory to cater to shifting demands for electronic components.
According to the Department of Statistics, the Electronic Components sector comprises the following:
- SSIC 46521 Telecommunications equipment
- SSIC 46522 Electronic components
If you have queries or are keen to discuss any of our digital solutions, we encourage you to contact us at sales@zooloo.asia.
Explore more
- Learn more about our “Digital Backbones”
- Learn more from our eBook series on Digital Transformation for Wholesale Trade
