Electronics & Internet Market Potential

     People in Elgin spend a lot of time on their electronic devices either at home or work. Residents have many major internet providers to choose from and multiple outlets for retail electronic hardware (computers, TV’s, home devices, etc.) in the region. There is also no shortage of options or choices when it comes to quality or preferences. Nearly everyone in Elgin has access to fast cable internet service with average speeds up to 3,500 Mbps, while 18% have access to fiber cable internet. The table below shows just a snippet of dozens of pages of information available about Elgin’s market. Anyone that would like to have additional details can contact us directly. 

                                                                                        * Esri 

     The “Electronic and Internet Market Potential” concept can be used to assess how much more or less Elgin’s population  might use and spend compared to national average in hundreds of categories. In the U.S., the Electronics Market is estimated to be between $200-$300 billion. Elgin’s excellent market potential lies in the fact that we have a solid customer base, a diverse demographic with specific needs, a growing economy, increasing salaries, and an increased need for services and products. Anyone interested in knowing the market potential for a specific category before they think about starting a new business, should spend some time gathering additional data and conducting a trade-area market analysis.