Report Code: A09847 | Nov 2023 | Pages: NA | ||
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Request Now !The global passive and interconnecting electronic components market size is experiencing significant growth and is expected to grow considerably in the next few years. Passive and interconnecting electronic components are used as essential parts of electronic devices such as smartphones, computers electrical home appliances, and gaming consoles. These are considered as the backbone of computers, telecommunications, consumer electronics, and many other industries. Interconnecting devices include sockets, connectors, printed circuits boards, relays, switches, and many others.
The global passive and interconnecting electronic components market is segmented into type, industry vertical, and region. Based on type, the market is further segmented into passive electronic components, and interconnecting electronic components. In terms of application, the market is sub-divided into consumer electronics, automotive, healthcare, it & telecom, industrial, and aerospace and defense. Based on industry vertical, the market is bifurcated further into chemical & petrochemical, oil & gas, energy & power, automotive, food & beverages, healthcare, and others. Geographically, the global market is divided across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key players of the passive and interconnecting electronic components market analyzed in the research include TT Electronics PLC, Japan Aviation Electronics Industry, Ltd., AVX Corporation, Cisco Systems, Inc., Yazaki Corporation, Ametek, Inc., 3M Electronics, TE Connectivity Ltd., Amphenol Corporation, Molex Incorporated, Fujitsu Component, Panasonic Electronic, API Technologies, Eaton, Hirose Electric, Hubbell Incorporated (Burndy LLC), Hon Hai Precision Industry Co., Ltd., JST MFG. Co., Ltd., Chogori Technology Co., Ltd, Suzhou Zeeteq Electronics Co., Ltd, Toyo Connectors, Ipdia, and HVP Global, LLC. They have adopted various strategies including new product launches, collaborations, partnerships, mergers & acquisitions, joint ventures, agreements, and others to gain a stronghold and international presence across the world.
The passive and interconnecting electronic components market growth is mainly driven by continuous novel innovations and the introduction of advanced technology in the field of electronics. In addition, huge growth in consumer electronics, such as music players, digital cameras, and laptops, is fueling the market growth of passive and interconnecting electronic components. On the other hand, advancement and incorporation of navigation and infotainment features, such as the Global Positioning System (GPS), are fueling the market growth. Rapidly increasing 5G network infrastructure coupled with high-speed internet is boosting the market demand. Moreover, surge in demand for storage and networking devices in the data center, robotics in industrial applications, security cameras, and sensor-based devices is expected to provide huge opportunities for the passive and interconnecting electronic components market over the forecast period.
The industrial sector across the globe is rapidly transforming with IoT devices, which enable manufacturing facilities to strengthen their operational efficiency and overall productivity by providing ease of operability and minimize the total system downtime. In addition, with the evolution of Industrial 4.0, numerous manufacturing facilities have started to implement several connected devices due to the need to streamline operational processes through remote monitoring. Robust deployment of IoT devices across many industrial applications, such as motion control and process automation, is anticipated to augment the growth of the market for passive and interconnecting electronic components over the years.
Interconnects and passive components market for connectors is anticipated to grow at the highest rate. This is primarily driven by the wide adoption of connectors in different applications such as robotics, data transfer, automation, and infotainment. In addition, the growing demand for optical interconnects as well as fiber optic connectors in data processing and telecommunication applications increases the demand for the connector segment.
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Passive and Interconnecting Electronic Components Market Report Highlights
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Key Market Players | Company2, Company3, Company6, Company9, Company4, Company8, Company7, Company1, Company10, Company5 |
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