TechInsights' ESC Silicon Valley 2009 Study Shows Electronics Sector Responding Aggressively to Recession Pressures
Economic Improvement Expected Within 12 Months
Mar 26, 2009
TechInsights today released the results of a recent survey conducted with electronics industry engineers and executives attending next week's much anticipated ESC Silicon Valley 2009 conference and expo (McEnery Convention Center, San Jose, California March 30 - April 2). Sent by email to all pre-registered ESC attendees, the survey reveals that while the current economic recession is having a significant impact, electronics companies are adapting to the downturn and anticipate improvement within the coming year.
Conducted on behalf of TechInsights by research firm Extra Mile Audience Research, the survey included 20 questions designed to gather specific information about the effect of the economic downturn on electronics sector jobs, products and services. The following survey results were collected from 237 engineers, managers and senior executives:
-- As a result of revenue declines, 53 percent of respondents reported lay-offs at their companies and 52 percent reported wage and benefit reductions, unpaid time off, or other cost-saving measures. -- 11 percent of respondents reported having lost their job in the last six months, though 3 percent had already found new employment, for a net unemployment figure of 8 percent among respondents. -- As a result of the recession, electronics companies are very actively seeking new sources of revenue. 60 percent are exploring new markets and applications for their products and services, and 63 percent are exploring new ways to compete to increase sales. -- A significant amount of effort is being exerted to create products less expensively than before the recession began. 55 percent report their companies are trying to find better prices for components, products, materials, and services, while 25 percent are renegotiating existing vendor contracts. -- Many electronics companies are looking for savings through design or process improvement. 54 percent of attendees' companies are considering money-saving approaches to processes, and 39 percent are re-evaluating product designs to find financial savings as a result of the recession. -- The recession has not dampened respondents' enthusiasm for attending ESC and gathering with their professional community: 75 percent feel "positively" or "very positively" about attending the upcoming ESC Silicon Valley 2009 event. -- Attendees will be using their time at ESC to address some of their recession-related objectives: 37 percent will be seeking new sources from which to purchase products, and 36 percent will be re-evaluating products, manufacturers, and suppliers at ESC. As is typical of ESC, 75 percent will be looking for new products, and 78 percent are seeking exposure to new developments and techniques. 52 percent are coming to the event to get education and training.
"The results of the pre-ESC study make it clear that the recession is having a significant impact on many companies in the electronics sector and particularly the embedded systems market," said Michael Goodman, President of Extra Mile Audience Research. "The study also reveals the tremendous amount of professional activity spurred by the recession as professionals in the field seek to adapt to the current market conditions."
"Embedded systems designers are reevaluating every aspect of their product designs and manufacturing processes to find economic efficiencies, and their situations are creating significant opportunities for new vendors and new solutions," said David Blaza, TechInsights' vice president of Events. "ESC Silicon Valley 2009 is the perfect venue for product companies and suppliers to connect and pursue multiple recession-related objectives."
The TechInsights' ESC Survey will be discussed in detail during the following ESC event open to all attendees, industry analysts and media:
Industry Luminaries Debate: "Tech Stimulus - The Winners and Losers." Location: ESC Theater When: Wednesday, April 1, 4:00 - 5:00 pm Moderator: Jim Turley, CEO, Silicon Insider Panelists: Dave Epstein, Venture Capitalist, Steve Sanghi, CEO Microchip, Wade Patterson, CEO, Synapse Wireless, Ben Wilson, Director, Healthcare IT at Intel Digital Health About ESC Silicon Valley (http://www.embedded.com/esc/sv)
Held in key strategic technology development locations worldwide, the Embedded Systems Conference is the global electronics industry's leading event. With cutting edge product demonstrations, visionary speeches and hundreds of essential technical training classes and accreditation opportunities, ESC is the ideal venue for the design engineering community to learn, collaborate and recognize excellence. In addition, ESC Silicon Valley celebrates decades of unique local electronics industry culture, innovation and significant contributions to the global technology industry.
About TechInsights (http://www.techinsights.com/)
TechInsights is the global leader in media, marketing, and professional services for the electronics industry. We deliver results for the "Creators of Technology" -- those key influencers and decision makers involved in the definition, development, protection, and commercialization of technology and related intellectual property. More than 1.1 million engineering professionals engage with our online brands -- EE Times, TechOnline, DesignLines, and Embedded.com -- monthly across Europe, India, Japan, Taiwan, mainland China and North America. As well, the technology community comes to our face-to-face events -- the Embedded Systems Conferences and Intellectual Property Symposia -- to share, learn, discuss, and advance the critical issues and challenges facing the electronics industry. Finally, for those clients with a specific technology, or intellectual property objective we engage on a custom basis through our TechInsights Professional Services team -- Portelligent, Sanguine Microelectronics, and Semiconductor Insights.
TechInsights is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $1.6B.
About Extra Mile Media Audience Research
Extra Mile Audience Research, a subsidiary of Extra Mile Media Services, provides attendee and audience research to conference/trade show producers and media companies.
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