Vinyas Innovative Technologies

Outlook of the Electronics Industry for 2023

Here we are at the beginning of January 2023; witnessing the rapid growth of the electronics industry by leveraging the latest technology advancements in fabrication processes and components design. Besides the raising graph, the industry is still facing many challenges that began in early 2020 with the onset of the COVID-19 pandemic and later continued with the war in Ukraine that has resulted in high inflation and a backlog of 2022 forecasts. Supply chain disruption, component shortage and difficulty in components sourcing, global travel limitations, and unpredicted increase in demand were the few concerns that the industry is still trying to overcome.


Today’s fast-paced, evolving environment is demanding the manufacturers to invest in key capital improvements such as plant and equipment and ERP systems that will help them prepare for tomorrow’s uncertain economy. According to the report published by the Worldwide Electronics Manufacturing Services Market 2019 Edition, the total electronics assembly value was $1.3 trillion in 2018 and is expected to grow by approximately $1.5 trillion in 2023. Fuelled by the demand for electronics manufacturing services, the contract manufacturing industry will grow from $542 billion in 2018 to $777 billion in 2023, which is a 7.5 percent CAGR.


The electronics industry also needs to be prepared for threats that will affect the growth of the sector over the coming year. Component price rises, long lead times, delayed orders and stockpiling, lack of innovation, geopolitical pressures, and new pandemic protocols have all contributed to hampering the growth of the industry in 2022, but as the global pressures have started to ease, innovation comes to the fore and we can see the fog clearing in the horizon.


Electronics manufacturing industry trends in 2023

The innovation map of the electronics manufacturing industry outlines the below global trends to boom in the coming years which in turn will improve the efficiency, durability, and sustainability of electronics products.


  1. Advanced Materials
  2. Artificial Intelligence
  3. Organic Electronics
  4. Printed Electronics
  5. Internet Of Things
  6. Embedded Systems
  7. 3D printing
  8. Miniaturized Electronics
  9. Immersive Technologies
  10. Advanced IC Packaging
  11. Robotics


With the above trends expected to flourish, electronics manufacturers are anticipated to put a greater focus on plant and labor in 2023. Manufacturers not only have to take a close look at their operations, their talent pool, and their financial outlook but also make smart investments in plant, machinery, research & development, automation, information technology tools, new product or service development, and business technology improvements.


Final Thoughts

Constant upgrading of knowledge and technology along with innovative ideas can be the key for electronics manufacturers to effectively plan for the future. This helps them to know what will affect the industry in the coming years as well as be prepared to adapt and overcome any potential challenges before they impact business too severely. Restricted component supply and strong demand seem likely to continue in 2023 as well as showing up signs of more modest but predictable growth. 

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Vinyas IT

Deepashree Narendra

Vice President - Corporate Affairs

Deepashree joined Vinyas in 2015, and since then she has been instrumental in driving brand management, human resource management, accelerating business growth and crafting valuable stakeholder experiences. She comes with around 8 years of experience of working with leading PR firms in Mumbai.


Deepashree holds a Bachelors in Biotechnology Engineering from Sri Jayachamarajendra College of Engineering, Mysuru. She has also pursued her studies in Law from National Law School, Bangaluru where she completed her PGDM in Intellectual Property Rights. Besides, she has also completed her Master’s in Business Management under the specialization of Communications from Symbiosis School of Media and Communication, Bangaluru.  


Deepashree is currently the co-convener of CII Women Network Forum Mysuru and the Chair for YUVA, Young Indians; the youth vertical of Confederation of Indian Industry (CII). 

Vinyas IT


Director - Operations

Heading the Operations at Vinyas, Vasan has more than two decades of experience in Electronics Manufacturing as well as Electronics Hardware industry. Being a Mechanical Engineer by qualification, he has helped the company to form a world-class manufacturing solutions team and has nurtured business partnerships since his association with Vinyas in 2001.


Vasan oversees the entire manufacturing facility and has played a pioneering role as mentor in building operational efficiency. He has been contributory in establishing a strong team to deliver technology-driven and innovation-led solutions to the valued customers.


Six-Sigma certified personnel


IPC Standard certified personnel


Joint Industry Standard certified personnel


ISO Internal Auditors

Process Details Standards Followed
SMD Assembly
Through Hole Assembly
Reflow process
Wave Soldering Process
Post Soldering Operations
J-STD-001E & IPC-HDBK-001
Acceptance of Assembly - PCBA
IPC-A-610D (Class 1, 2 & 3)
Acceptance of Wire Harness
IPC-WHMA-A-620A (Class 1, 2 & 3)
Vinyas IT

Sumukh Narendra


Sumukh has been associated with Vinyas Innovative Technologies since 2018 and is currently serving as Executive Director. He holds a Bachelors in Electronics and Communication Engineering from Sri Jayachamarajendra College of Engineering, Mysuru and Master of Science in Engineering in Embedded Systems from University of Pennsylvania, Philadelphia, USA.


With over 8 years of experience in Design Engineering, Sumukh brings in a strong focus on developing cutting-edge and innovative technologies in diagnostic and digital healthcare domain. He has also gained work experience as Lead Design Engineer in multi-national Fortune 100 Companies in USA.


Under his competent headship, Vinyas has achieved many milestones. Sumukh has not only achieved sustainable growth plan and supported Vinyas to expand its footprint in European markets especially in the Medical, Power electronics & Industrial Engineering sectors but has also established many ground-breaking technologies in firmware, medical and Industrial engineering segments.


Sumukh also serves as a Member of Confederation of Indian Industry (CII), Mysore Chapter.

Vinyas IT

Narendra Narayanan

Founder and Managing Director

Narendra founded Vinyas Innovative Technologies in the year 2000 with a vision to create global presence for India in the Electronics Manufacturing industry. Under his out-standing leadership and guidance, Vinyas has grown to become one of India’s largest Integrated Electronics System Design and Manufacturing company catering its best-in-class engineering & manufacturing solutions to global markets.


Born in the year 1959 at Bengaluru, Narendra has completed his Engineering in Electrical & Electronics from the University of Southern California. He has to his credit of serving as Chairman and advisor for many indigenous companies across the globe.


No doubt, Narendra is a man of vision and a heart of gold. “The Best Employer” award bestowed by the National Trust, Ministry of Social Justice & Empowerment, Government of India in the year 2011-2012 stands as a proof. Besides being honoured as the member of Advisory Board of India, USC Viterbi School of Engineering; Narendra was also conferred the Widney House Volunteer Award for the year 2014 from the University of Southern California. Born with strong ethical values, Narendra consistently strive to create an open and transparent work environment at Vinyas. Extending impartial and equal employment opportunities to differently abled, hearing impaired and tribal youth deserves an applause.