Global Passive and Interconnecting Electronic Components Market Size to Exceed USD 293.01 Billion by 2033 | CAGR of 5.3%
Category: Semiconductors & ElectronicsGlobal Passive and Interconnecting Electronic Components Market Size to Exceed USD 293.01 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Passive and Interconnecting Electronic Components Market Size Expected to Grow from USD 174.89 Billion in 2023 to USD 293.01 Billion by 2033, at a CAGR of 5.3% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the " Global Passive and Interconnecting Electronic Components Market Size, Share, and COVID-19 Impact Analysis, By Component (Passive and Interconnecting), By Application (Consumer Electronics and IT & Telecommunication), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/passive-and-interconnecting-electronic-components-market
The global passive and interconnecting electronic components market involves the production and sales of components such as resistors, capacitors, inductors, connectors, and cables. These are essential for many electronic devices such as smartphones, computers, automotive systems, and industrial machinery. The passive and interconnecting electronic components market is growing due to continuous creative innovations and the introduction of improved technologies in the domain of electronics across multiple regions. In addition, there is a growth in consumer electronic products like music players, digital cameras, and laptops, which demand passive and connected electrical elements. On the other hand, innovation and incorporation of features such as global positioning system navigation and infotainment are boosting the market forward. Moreover, due to the evolution of Industrial 4.0, many industrial facilities have started deploying a wide range of connected devices to smoothen their operational operations by monitoring them remotely. With the widespread adoption of IoT devices in several industrial applications such as motion control and process automation, the passive and interconnected electrical components market will surely reach unprecedented levels in the next few years. One of the key challenges is volatility in raw material prices, particularly for components like capacitors, resistors, and inductors, which are sensitive to materials such as metals and rare earths.
The interconnecting segment accounted for the largest share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of component, the global passive and interconnecting electronic components market is divided into passive and interconnecting. Among these, the interconnecting segment accounted for the largest share in 2023 and is projected to grow at a significant CAGR during the forecast period. The growth in the segment is due to their significance being paramount in ensuring seamless and effective working of electronic devices.
The consumer electronics segment accounted for a highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
On the basis of application, the global passive and interconnecting electronic components market is divided into consumer electronics and IT & telecommunication. Among these, the consumer electronics segment accounted for a highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth in this segment is mainly due to consumer electronics manufacturers' constant innovation of new products with higher features and functionalities. These improved functionalities directly enable a demand for high-performance passive and interconnecting electronic components that would back up the advanced capabilities of devices such as smartphones, tablets, laptops, smart TVs, and wearable technology.
Asia Pacific is anticipated to hold the largest share of the global passive and interconnecting electronic components market during the forecast period.
Asia Pacific is anticipated to hold the largest share of the global passive and interconnecting electronic components market during the forecast period. The main drivers of growth in the market can be attributed to the country's strong electronics manufacturing base and also the advancement made in 5G technology. China is regarded as a hub for electronics manufacturing globally, due to the prevalence of numerous firms that manufacture numerous components. Growth in the target market is encouraged by this long-established manufacturing base.
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North America is expected to grow at the fastest CAGR in the global passive and interconnecting electronic components market during the forecast period. Growth in the market is attributed to the increasing adoption of more advanced technologies and the rising trend of industrial automation. Regional governments and businesses are investing in technologies that include Artificial Intelligence (AI) and IoT, which demand various types of passive as well as interconnecting electronic components.
Major vendors in the global passive and interconnecting electronic components market Videojet Technologies Inc., Pannier Corporation, Canon Inc., HP Development Company, L.P., Konica Minolta, Inc., KEYENCE CORPORATION, Mimaki, Xerox Corporation, Seiko Epson Corporation, Brother Industries, Ltd., InkJet, Inc., CONTROL PRINT LTD., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In March 2024, KEMET, a division of the YAGEO Group, unveiled the initial release of T581 capacitors, which adhere to the Military Performance Specification Sheets MIL-PRF-32700/2. These capacitors, rated at 35V, cater to the demanding needs of military applications by delivering MIL-PRF-certified components and leveraging the exceptional volumetric efficiency of polymer tantalum technology, especially beneficial in high-efficiency fast-switching DC/DC converters.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global passive and interconnecting electronic components market based on the below-mentioned segments:
Global Passive and Interconnecting Electronic Components Market, By Component
- Passive
- Interconnecting
Global Passive and Interconnecting Electronic Components Market, By Application
- Consumer Electronics
- IT & Telecommunication
Global Passive and Interconnecting Electronic Components Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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