Wholesale Electronic Markets and Agents and Brokers Global Market Report 2024

The wholesale electronic markets and agents and brokers market has grown strongly in recent years. It will grow from $2313.16 billion in 2023 to $2461.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The expansion observed in the historical period can be ascribed to the globalization of supply chains, the prevalence of e-commerce and online trading platforms, increased market transparency and information accessibility, improved efficiency in order processing, and a diverse array of product offerings.

The wholesale electronic markets and agents and brokers market is expected to see strong growth in the next few years. It will grow to $3112.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. he anticipated expansion in the forecast period can be linked to a shift towards sustainable and ethical sourcing, the integration of artificial intelligence (AI), an increase in cross-border trade, the utilization of real-time data analytics and insights, and the formation of collaborations and partnerships. Key trends expected in the forecast period encompass the integration of 5G technology, the emphasis on customization and personalization in services, the implementation of cybersecurity measures for data protection, collaborations with technology startups, and a transition towards data-driven decision-making.

The anticipated growth in the wholesale electronic markets and agents and brokers market is expected to be driven by the increasing demand for consumer electronics. Consumer electronics encompass electronic products designed for daily, non-commercial, or professional use by consumers. The rising demand for consumer electronics, especially computers and televisions, is set to benefit wholesale electronic markets, agents, and brokers as they engage in the bulk purchase of new products for wholesale distribution to stores and the acquisition of used electronics for recycling or resale. For instance, according to data published by the United States Census Bureau in February 2023, sales of electronics and appliance stores in the United States increased from $5.97 billion in June 2020 to $8.54 billion in June 2021. Additionally, Shopify Inc., a Canada-based ecommerce company, projected that by the end of 2022, global consumer spending on electronics would reach $505 billion, representing a 20% increase from 2020. Consequently, the growing demand for consumer electronics is a key driver of the wholesale electronic markets and agents and brokers market.

The expansion of international trade is poised to propel the growth of the wholesale electronic markets and agents and brokers market. International trade involves the exchange of goods and services across national borders, and wholesale electronic markets and agents and brokers play a crucial role in facilitating this trade. They connect buyers and sellers, streamline transactions, and provide efficient market access. According to the United Nations Conference on Trade and Development in February 2022, global trade reached a historic milestone, totaling $28.5 trillion in 2021. This marked a substantial 25% growth from 2020 and a noteworthy 13% surge compared to pre-COVID-19 levels. Hence, the growth of international trade serves as a driving force for the wholesale electronic markets and agents and brokers market.

The prevailing trend in the wholesale electronic markets and agents and brokers market is the emergence of product innovations. Leading companies within this market segment are actively engaged in the development of innovative products to enhance their market positions. For example, in January 2023, goTRG, a supply chain management company based in the United States, introduced goWholesale, a new platform that leverages real-time data. Designed to facilitate the buying and selling of new, refurbished electronics, and premium wholesale items, goWholesale offers unique features such as a shipment visualization tool, location selection, and a price history tool. The platform aims to provide a sophisticated, open, and game-such as purchasing experience.

Major players in the wholesale electronic markets, agents, and brokers market are directing their efforts toward the development of technologically advanced platforms that utilize internal wholesale technology to streamline processes and gain a competitive edge. Internal wholesale technology refers to proprietary systems or platforms that enhance wholesale processes, integrating technology solutions to improve operational efficiency. In October 2023, Heffernan Insurance Brokers, an independent insurance agency in the United States, launched HIB Marketplace, an internal wholesale technology powered by Semsee Corp. This platform, leveraging Heffernan's strengths, features a fully automated quote or bind and invoicing system, with a focus on cyber business. The system is seamlessly integrated with EPIC, reducing double entry, calculating surplus lines taxes or fees, and providing immediate invoicing upon binding.

In March 2022, Consolidated Electronic Distributors Corp. (CED Marine), a technical distributor of marine electronics based in the United States, acquired certain assets of Jaytron Marine Electronics for an undisclosed sum. This strategic acquisition is expected to accelerate CED Marine's growth in revenues and dealer base. Jaytron Marine Electronics, a wholesale distributor of electronic parts and communications equipment, adds value to CED Marine's portfolio through this acquisition.

Major companies operating in the wholesale electronic markets and agents and brokers market report are KIKO Wholesale Group, Direct Liquidation LP, Esi Enterprises Inc., F&E Trading LLC, Yonida International Trading Corp., Nirah Distributors, SSW Wholesale, Global Mobiles Inc., Mibetec U.S. Inc., Link Distribution, Ambar Distributors LLC, Arrow Electronics Inc., Avnet Inc., Future Electronics Inc., Petra Industries, Benz Dealz LLC, goTRG, Consolidated Electronic Distributors Corp., D&H Distributing Co., Ingram Micro Inc., Synnex Corporation, Tech Data Corporation, ScanSource Inc., BlueStar Inc., Almo Corporation, Jenne Inc., SED International Holdings Inc., ASI Corp., Dicker Data Ltd., Westcon-Comstor.

Asia-Pacific was the largest region in the wholesale electronic markets and agents and brokers market in 2023. The regions covered in the wholesale electronic markets and agents and brokers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wholesale electronic markets and agents and brokers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products associated with wholesale electronic markets, agents, and brokers include electronic devices and home appliances. Electronic devices are components that regulate the flow of electrical currents for information processing and system control purposes. Wholesale traders in this sector supply these devices to retailers and dealers. The technologies involved encompass various types, including near-field communication (NFC), magnetic secure transmission (MST), artificial intelligence, virtual reality technology, generation PCL technology, and others. These technologies are distributed through different channels, both online and offline.

The wholesale electronic markets and agents and brokers market research report provides wholesale electronic markets and agents and brokers market statistics, including wholesale electronic markets and agents and brokers industry global market size, regional shares, competitors with a wholesale electronic markets and agents and brokers market share, detailed wholesale electronic markets and agents and brokers market segments, market trends and opportunities, and any further data you may need to thrive in the wholesale electronic markets and agents and brokers industry. This wholesale electronic markets and agents and brokers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wholesale electronic markets and agents and brokers market includes revenues earned by entities through business-to-business electronic markets and agents, merchant wholesalers, wholesale trade agents, and brokers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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