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.
Top impacting factors: Market scenario analysis, trends, drivers and impact analysis
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.
Adoption of the Internet of Things (IoT) devices to drive the market
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.
Connectors to witness significant growth rate in the interconnects and passive components market
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.
COVID-19 scenario analysis:
- The global passive and interconnecting electronic components market revenue has been significantly impacted by the outbreak. New projects throughout the world have slowed down, which have significant demand for passive and interconnecting electronic components.
- The global factories have struggled to manufacture and assemble new devices as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules & regulations, which disrupted the global supply chains.
- The impact of COVID-19 on passive and interconnecting electronic components market size is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase.
- This is expected to provide opportunities for companies to think about ways of increasing production, research about technologies, and improve current products.
Key benefits of the report:
- This study presents the analytical depiction of the global passive and interconnecting electronic components market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global passive and interconnecting electronic components market share.
- The current market is quantitatively analyzed to highlight the global passive and interconnecting electronic components market trends and growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed passive and interconnecting electronic components market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the research report:
- Which are the leading market players active in the passive and interconnecting electronic components market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the passive and interconnecting electronic components market?
- What are the projections for the future that would help in taking further strategic steps?
Passive and Interconnecting Electronic Components Market, by Type Report Highlights
| Aspects | Details |
 By Type |
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 By Industry Vertical |
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 By Region |
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 Key Market Players | Delphi Automotive, Molex, Yageo Corporation, Molex Incorporated, Wurth Electronics, Harwin Plc, Passive Plus, Amphenol, TE Connectivity, AVX Corporation |
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