Nolan's Notes: The Rise (and Risk) of Data
Global Citizenship: Comparing and Contrasting the U.S. and China PCB Industries
Standard of Excellence: Finding and Hiring the Right Candidates for Engineering Positions
Economic Outlook: Joe O’Neil Has More Optimism than Concerns
December 27, 2023 | I-Connect007 Editorial TeamEstimated reading time: 1 minute
Joe O’Neil’s background includes operating both printed circuit fabrication and printed circuit assembly companies. In his current role, Joe contributes to the strategic initiatives at IPC, including his involvement in developing advanced fabrication technologies demonstration facilities in the U.S.
For 2024, how would you describe the economic outlook for the industry? What are you optimistic about? What are you worried about?
The global economic outlook for the electronics industry in 2024 presents a mixed landscape. While there's a sense of flatness, several opportunities are emerging. One notable trend is the relocation of manufacturing from China to regions like Southeast Asia, Mexico, and the U.S., fostering a more diversified supply chain. I am particularly optimistic about the renewed focus on building a robust domestic electronics manufacturing base. New domestic activities across the value chain are on the rise and are expected to continue in the coming year.
There are, however, valid concerns. Rising interest rates, inflation, and other economic headwinds have the potential to delay these projects. Geopolitical tensions and increasing complexities in the industry are also worrisome factors.
What concerns you most in your growth plans: capabilities, capacity, or competition?
Actually, workforce is my main concern. I believe that there are talented, extremely bright young people coming up through our education system and entering the workforce. Can the electronics industry attract them? If so, I am not worried about developing and sustaining domestic capabilities and capacities and competing on a global scale. Without the workforce, none of that is possible. I see massive opportunities for bright, young engineers in our industry. The challenges are large, but the opportunities are large as well.
To read this entire conversation, which appeared in the December 2023 issue of SMT007 Magazine, click here.
Share on:
Suggested Items
Mycronic Receives Order for Two SLX Mask Writers
11/05/2024 | MycronicMycronic AB has received an order for two SLX mask writers from a new customer in Asia. The order value is in the range of USD 13-15 million.
The New Chapter: Navigating Maternity Leave in the Electronics Industry
11/05/2024 | Hannah Grace & Paige Fiet -- Column: The New ChapterAs my husband and I prepare to welcome our first child next month, we are navigating what maternity leave means in the electronics field. Although the field is high-tech and fast-paced, maternity leave remains an often-underestimated issue. Policies and practices that support working parents must also change to keep the electronics field a relevant, supportive, and inclusive work environment.
Navigating the Supply Chain Challenges and Opportunities in Aerospace and Defense
11/05/2024 | Stanley MerrittThe intersection of supply chain management and sustainability is evolving rapidly, driven by a mix of voluntary and mandatory actions from stakeholders including investors, governments (federal, state, and international), customers, suppliers, and communities. Beyond the traditional considerations of price, quality, and delivery, companies face increasing pressure to address challenges associated with environmental, social, and governance (ESG) impacts.
Discover the Future of PCB and PCBA at the International Electronics Circuit Exhibition
11/01/2024 | HKPCAThe International Electronics Circuit Exhibition (Shenzhen) (HKPCA Show) is one of the largest and most influential trade shows in the PCB and electronic assembly industry. Having already been successfully held 21 times, the Show takes place every December.
The ICAPE Group Announces the Launch of Its E-Shop at Electronica
10/31/2024 | BUSINESS WIREThe ICAPE Group, a global technology distributor of printed circuit boards (PCB) and custom-made electromechanical parts, today announced its participation at the 2024 edition of Electronica, where it will present the ICAPE Shop, its new online purchasing platform.