Passive And Interconnecting Electronic Components Market Trends, Opportunity and Forecast 2023
Electronic components are the parts of an electronic circuit that are used for multiple reasons such as controlling the flow of electrons, connecting other components into integrated assembly, and so on.
Passive electronic components are those components that do not need electrical power or other source of energy in order to operate, while interconnecting electronic components are those that are used to interconnect several other components into integrated assembly. With demand for combined modules like multichip and system-on-a-chip growing, the need for passive and interconnecting electronic components is expected to increase.
Growth in passive and interconnecting electronic components is characterized by innovations and development of advanced technologies in the electronic industry. With increasing demand for consumer electronics products such as digital cameras, portable music players, gaming consoles, and laptops, the passive and interconnecting electronic components market is expected to witness good growth. In addition, technological advancements leading to incorporation of entertainment and navigation features (ex- Global Positioning Systems) in automotives has fueled market momentum. Medical and portable electronics segments have also been witnessing high adoption in recent years due to technological advancements and emergence of remote communication facilities. With swift growth expected in these segments, the demand for passive and interconnecting electronics component is forecasted to remain strong
Currently, Asia Pacific is the largest passive and interconnecting electronic components market. Over the forecast period, it is expected to continue its dominance owing to surging demand from verticals like telecom, consumer electronics, healthcare, and information technology. Transition from existing standards to higher communication standards such as 4G LTE and 5G is expected to have positive impact on the growth of the market. In addition, increasing penetration of Internet services in China, India, and other developing economies is expected to fuel demand for electronic devices and components.
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The passive and interconnecting electric component market is segmented on the basis of end-use, types, and geography. The passive and interconnecting electric component market is segmented on the basis of end-use segment into seven major categories, namely- automotives, consumer electronics, telecommunication, healthcare, defense services, information technology, and industrial. The passive and interconnecting electric component market is also segmented on the basis of types into two major categories, namely- passive electronic components (Resistors, Capacitors, Transformers, and Inductors among others) and interconnecting electronic components (connectors, printed circuit boards, relays and switches, and other interconnecting electronic components).
Some of the key players in the spectrum analyzer market include AB Connectors Limited, American Electronic Components, Inc., API Electronics, Inc., AVX Corporation, Cisco Systems, Inc., Delphi Connection Systems, EDAC, Inc., Fujitsu Component Limited, Hosiden Corp, Hirose Electric Co. Ltd, Panasonic Electronic Devices Co., Ltd, Philips Electronics NV, and Yageo Corporation among others
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