As
Emerging IoT Technologies Drive Innovation and NPI, Customers Demand
Component Selection, Value-Add Services & Rapid Fulfillment
THIEF RIVER FALLS, Minn. - Wednesday, January 14th 2015 [ME NewsWire]
(BUSINESS
WIRE) - Global electronic components distributor Digi-Key Corporation,
the industry leader in electronic component selection, availability and
delivery, today reported increase of over 11-percent in 2014 North
American sales revenue, as compared to the prior year. Amid single digit
sales reports across the industry, Digi-Key attributes its success to a
spike in innovation driven by emerging technologies and increasing
demand for its engineer-centric, fast and efficient product distribution
model.
In 2014, Digi-Key noted an especially healthy demand for
Internet of Things (IoT) or device-to-device connectivity driven by
advances in wireless, embedded, single board computers, sensors and
motion control along with demand for cloud-enabled applications. The
company also attributes increasing demand for pre-built modules and
development kits or “buy versus make” solutions built around single
board computers with other embedded technologies.
“This year, we
experienced an innovation-fueled demand for emerging technologies to
support the development of new applications,” commented Digi-Key’s
Executive Vice President of Sales and Supplier Management, Chris Beeson.
“A spike in new product introduction (NPI) activity lends itself
extremely well to our model which is ideal for fast-turn production runs
and high-mix, low-volume orders. By constantly adapting to the needs of
our customers, we’re one of few distributors able to respond quickly
with exactly what they’re asking for – new product availability, design
resources and fast delivery.”
Digi-Key’s total 2014 global sales
of $1.76 billion reflect a growth rate more than three times the average
for the electronics industry. The company credits its strong
performance to its hybrid distribution model, built around its promise
to offer the broadest selection of in-stock components, a unique
competence in high-mix, low-volume orders and ultra-efficient, next-day
product delivery.
“It's an extraordinary time of growth in this
industry,” commented Dave Doherty, Executive Vice President of
Operations for Digi-Key. “Particularly here in North America, we’re
seeing a combination of market trends driving innovative new products
that will literally change how we work and play. Along with breakthrough
wireless and embedded technologies, the cost of components continues to
drop, high-value EDA tools are now affordable and other game-changers
like open source software and crowdfunding resources are breaking down
the walls for the design engineer. Fortunately for Digi-Key, these kinds
of market drivers all point to the need for a next-generation
distribution model that values selection, speed and self-service.”
Digi-Key’s
business model is centered on an engineer-centric user experience that
streamlines the design process and offers an exceptional online user
experience. By supporting the needs of the professional engineer,
Digi-Key was the first traditional catalog distributor to evolve its
model to support the entire product design process – from prototype to
production. Centered on a proven global ecommerce infrastructure, the
company broadened its offerings to include personalized sales and
support, value add services and supply chain management.
Unique
to Digi-Key, design engineers have access to high-value yet affordable
product schematic and layout design tools, a library of searchable
articles and reference designs, ‘how to’ videos, Google Hangouts on new
applications, multimedia-rich supplier marketing centers and multiple
online communities for peer-to-peer conversations.
“By listening
to our customers, we learned that they care about speed, selection and
relevance, supported by knowledgeable professional resources,” said Paul
Dosser, VP of Business Development for Digi-Key. “Suppliers and
customers both place a high value on our proficiency in delivering
high-mix, low volume orders. Manufacturers of all sizes are leveraging
the flexibility of our model to increase efficiencies, reduce inventory
risk and accelerate time-to-market from the design stage all the way
through production. They see Digi-Key as a vital partner as they embrace
emerging opportunities driven by technology innovation.”
Digi-Key
prides itself on offering customers fast and efficient product
delivery, guaranteeing that all orders received before 8pm CST are
dispatched from its headquarters in Thief River Falls, MN that same day.
Consistently
ranked as the most preferred North American electrical component
distributor, Digi-Key offers a number of exclusive capabilities and
services including:
More than one million parts, stocked in inventory and ready to ship
Same-day shipping for all orders placed by 8pm CST
Highly-trained technical support engineers, available 24/7
Digi-Key’s website accounts for 38-percent of online component sales in North America
High-value resources including a video library of 2,700 tutorials and
demonstrations, over 1,200 reference designs and more than 2,300
multimedia product training resources
High-value yet affordable product schematic and layout design tools, co-developed by Mentor Graphics and Aspen Labs
An online Bill of Materials (BOM) generator linked directly to
available inventory and pricing information, enabling users to create,
save, edit and import their BOMs.
About Digi-Key Corporation
Digi-Key
Corporation, based in Thief River Falls, Minn., is a global,
full-service provider of both prototype/design and production quantities
of electronic components, offering more than three million products
from over 650 quality name-brand manufacturers. With over one million
products in stock and an impressive selection of online resources,
Digi-Key is committed to stocking the broadest range of electronic
components in the industry and providing the best service possible to
its customers. Additional information and access to Digi-Key’s broad
product offering is available at www.digikey.com.
Contacts
Editorial Contacts for Digi-Key Corporation
Michelle Gjerde
Corporate Communications Director
Michelle.gjerde@digikey.com
Office: 1-800-338-4105 x2543
Cell: 218-416-2482
or
Kayla Krosschell
Corporate Communications Specialist
1-800-344-4539 x1098
Kayla.Krosschell@digikey.com
publicrelations@digikey.com
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