Winter 2019 – News Beat

EDS RETURNS TO THE MIRAGE, MAY 11–15,2020

EDS is a joint effort by the industry’s top member organizations: the Electronic Components Industry Association and the Electronics Representatives Association.
The event brings together the world’s top manufacturers, distributors and sales representatives to exchange insights, focus resources and build new business. EDS is a forum for top decision makers to discuss new opportunities, reset goals and build new business together.

This is not a typical trade show, it is a combination of scheduled, one-on-one meetings, product exhibits, educational programs and networking opportunities to maximize success.

For more information or to register, visit edssummit.com.

REPORT WARNS OF SLOWING ECONOMY IN 2020

According to a recent Deloitte survey of chief financial officers (CFOs) at major U.S. companies, the economy is headed toward a slowdown and the stock market is overvalued.

The surveyed CFOs said they cautiously see the economy as “good,” but are fairly certain that things will change before the year is out. They also said that business and consumer spending will likely slow. About 82 percent of them think they may have to take defensive actions in the meantime, like potentially reducing their workforce or cutting voluntary spending.

Deloitte surveyed 147 CFOs from companies in the U.S., Mexico and Canada, with most of them working for a company that earns over $3 billion in annual revenue.

IOT MARKET TO REACH $5.1 BILLION BY 2025

The global IoT device management market is anticipated to reach $5.1 billion by 2025, growing at a compound annual growth rate of 28.3 percent, according to Grand View Research. Growing demand for IoT services, the need for digitalization, and increasing penetration of communication and networking technologies are expected to drive the market over the coming years.

ECIA BOARD ANNOUNCES SEARCH FOR NEW PRESIDENT AND CEO

ECIA’s President and CEO Bill Bradford announced to the Board of Directors that he plans to step down as the association president and chief executive officer by the end of the first quarter of 2020. Bradford has led the association since 2018 and will transition to an industry position later in the year.

“I have been so blessed to work with such a capable staff and dedicated members,” said Bradford. “I am proud of what we have been able to accomplish together these past couple years. It has been my pleasure to serve the association and the industry, and it has been a tremendous honor.

”The ECIA Board will provide updates as the search process unfolds.

ONLINE RETAIL SALES REACH RECORD-HIGH NUMBERS

Despite sluggish sales at physical stores, retail sales reflected record-high numbers during the 2019 holiday season thanks to online shopping, Mastercard reported. Total retail numbers reached close to $880 billion, up 3.4 percent from Nov. 1 and Dec. 24 compared to the same period in 2018.

TRUMP THREATENS TO IMPOSE TARIFFS ON EUROPEAN CARS

President Donald Trump said that he is serious about the possibility of slapping tariffs on European cars if he couldn’t make a deal during ongoing trade negotiations with the European Union. In comments at the World Economic Forum in Davos, Switzerland, the president did not specify a deadline for when he would decide whether to put duties on automobiles.

GLOBAL WEARABLES MARKET SET FOR GROWTH

The global market for wearable electronics is projected to reach $61.4 billion by 2025. The market is driven by the availability of inexpensive sensors, miniaturized yet powerful microchips and processors, low-power lighter electronic components, evolving app ecosystem and the resulting expansion of applications addressed by wearable products and services. After smartphones and tablets, smart wearables is the new innovation taking the technology to a fevered pitch in the consumer electronics industry.

IN MEMORIAM OF JULIE BAKER

ERA mourns the loss of Julie Baker of Fairport, N.Y. Baker passed away on Jan. 3, 2020. She was 58. Baker was account manager for GMA located in Pittsford, N.Y., and served as the secretary/treasurer of the Empire State Chapter of ERA.

She was predeceased by her husband Richard “Dick” Baker and is survived by daughters Claire (John Dakin), Jill and Paige; stepson Geoff; parents Joanne and Richard “Dick” Clas; brothers Dick (Marie), Dan, Jim (Pam), Dave (Julie), Terry (Kathy), Andrew; closest friend Terry Jeanne Clas (Vic Del Pozzo); and many nieces and nephews.

The Empire State Chapter is planning to make a donation in her honor and dedicate a chapter event in her name.