A recent survey depicted that during the pandemic, the demand for electronic items boosted at a high pace. The survey studied that last year there was an immense demand in electronic items including; computers, tablets and game consoles.
Strategy Analytics, the body conducting the survey said that during 2020, the revenue from the sales of electronic goods boosted by 7% marking a revenue of $358.5 billion.
The main deal to acquire these goods was related to work, learning, and play.
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Further the study submitted that sales of computers and tables increased by 11% i.e., a sale of 396 million units, and the revenue was recorded at $199 billion, showing a hike of 17% compared to the previous year.
The revenue generated from the sales of gaming consoles recorded a hike of 18%, marking a revenue of $11.9 billion.
David Watkins, a specialist in connected home devices for Strategy Analytics said:
In contrast to doom-laden predictions of economic collapse made as the pandemic took hold, consumers continued to find a budget for technology which helped them through the crisis,
It is said that opposing to early predictions, the electronics market turned to be in profits and also managed to control the supply as the demand rose.
Bilal is professional finance and business person, he works with financial markets, Bilal is also a news editor at Research Snipers. He mainly covers the stories about Economy, Business, Prices, finance and others.