Home > Semiconductor & Electronics > Passive and Interconnecting Electronic Components Market Analysis, Trends to 2030
Straits Research

Passive and Interconnecting Electronic Components Market

Passive and Interconnecting Electronic Components Market: Information by Component Type (Passive, Interconnecting), Application (Consumer Electronics), and Region — Forecast till 2030

Table of Content Download Sample

Market Snapshot

market snapshot
Base Year:
2021
Study Period:
2020-2030
CAGR:
5.8 %
Fastest Growing Market:
North America
Largest Market:
Asia Pacific

The global passive and interconnecting electronic components market size was valued at USD 171.92 billion in 2021. It is projected to reach USD 276.45 billion by 2030, growing at a CAGR of 5.80% during the forecast period (2022–2030). The global passive and linking electronic components market is expanding rapidly and is projected to expand significantly during the next few years. Electronic devices like cellphones, computers, electrical home appliances, and gaming consoles rely heavily on passive and interconnected electronic components. Numerous interconnecting devices include sockets, connectors, printed circuit boards, relays, and switches. Passive electrical components do not produce power but dissipate, store, or release it. Passive elements include resistances, capacitors, and coils. Industrial IoT devices assist manufacturing facilities in increasing their overall productivity and operational efficiency by facilitating operability and reducing system downtime. Moreover, as the fourth industrial revolution (Industrial 4.0) evolves, several manufacturing facilities are integrating linked devices to streamline operational operations via remote monitoring.

Get more information on this report Download Sample Report

Market Dynamics

Market Driving Factors

Rising Smartphone Adoption and Internet Penetration to Aid Growth

The rapidly expanding use of smartphones and laptops in developing nations such as India and China is expected to propel the market. The industrial sector is experiencing rapid change with the widespread deployment of internet of things (IoT) devices. Industrial IoT devices assist manufacturing facilities in increasing their overall productivity and operational efficiency by facilitating operability and reducing system downtime. Consequently, the robust deployment of IoT devices in several industrial applications, such as process automation and motion control, will expand the passive and interconnecting electronic components market during the forecast period.

Growing Demand Medical Industry to Drive Market

Due to the increase in immunodeficiency illnesses among the population, worldwide healthcare expenditures are escalating. There is an increase in the elderly population and the incidence of diabetes, hypertension, etc. Consequently, the need for electronic medical gadgets testing blood pressure, sugar levels, etc., is growing. Medical device manufacturers deliver economical and dependable medical equipment to the market. Diverse passive and interconnected electronic components are utilized to improve the affordability and dependability of various medical care devices. The medical business has a significant requirement for passive and interconnected electrical components.

Market Restraining Factors

Decline in Manufacturers' Profit Margins to Hinder Market Growth

Due to technological advances, hardware costs are going down, but other commodities' costs are increasing as consumers continue to demand more complexity and variety in their purchases. Passive parts and interconnects have become very expensive due to widespread product counterfeiting. In addition, the ruthless competition among competitors from various places decreases the prices of passive components and interconnects. This negatively influences the costs of creating new products or those driven by advanced technologies.

Key Market Opportunities

Extensive Demand for Passive Components and Interconnects in 3C Applications to Boost Market Opportunities

The market for passive and interconnect components is driven by the proliferation of computing, communications, and consumer electronics (3C) applications. Passive components are the fundamental elements of all electronic devices and appliances. These components are integral to electronic circuitry and have been the primary pillar of businesses, including computing, telecommunication, and consumer electronics. Interconnects connect various active and passive components in a system-controlling electronic assembly. Connectors are one of the most commonly utilized interconnection types in telecommunications and consumer electronics applications. According to Electronics Web, personal computers have driven the expansion of the connection sector in the United States. There is a significant demand for high-speed and high-bandwidth networks; consequently, compatible connectors are introduced.

 

Segmental Analysis

The global passive and interconnecting electronic components market is segmented by component type and application.

By Component Type

Based on component type, the market is divided into passive and interconnecting.

The capacitor segment holds the most significant market share during the forecast period due to the high need for various types of capacitors to be manufactured for consumer electronic gadgets, industrial applications, and other uses. Transformers are vital to the operation of electronic devices because they convert high voltage to the circuit's required voltage. With the increasing manufacturing of various household appliances, industrial digital devices, and other consumer electronic products, the demand is expected to increase significantly during the forecast period.

Interconnecting electronic components took a sizable portion of the market for passive and interconnecting electronic components and are projected to increase at a considerable rate during the forecast period. The expansion can be ascribed to the increasing use of Bluetooth in electronic devices such as digital cameras, game consoles, etc. In addition, the continued need for networking and storage devices in data centers is predicted to increase the global usage of connectors/sockets.

By Application

Based on application, the market is segmented into consumer electronics, IT and telecommunication, automotive, and industrial.

The consumer electronics sector has a significant market share and is projected to grow at a CAGR of 5.7%. The demand for security cameras and sensor-based devices in industrial applications such as process automation and remote monitoring is increasing rapidly. Consequently, it is anticipated to increase the demand for passive and linking electrical components over the next seven years. The need for networking equipment such as modems, gateways, and repeaters is growing, particularly in the office automation and home application markets. Consequently, the rising demand for network devices and telecommunications equipment is anticipated to accelerate the growth of the IT and telecommunications segment of the market for passive and interconnecting electronic components throughout the forecast period.

 

Regional Analysis

The global passive and interconnecting electronic components market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

Passive and Interconnecting Electronic Components Market Regional Analysis

Regional Growth Insights Request Sample Pages

Asia-Pacific dominates the global market for passive and interconnected electronic components during the forecast period. The expansion is mainly driven by significant exporters and manufacturers of electronic goods in the region. The major consumer electronics manufacturers such as Samsung Electronics Co., Ltd., BBK electronics (Including brands like Oppo, Realme, and Vivo), Foxconn Technology Group, and Xiaomi Corporation are anticipated to be favorable for regional growth.

Telecom titans such as Verizon Inc. and AT&T Inc. are investing massive sums in developing 5G network infrastructure in response to the increasing demand for connected vehicles in the United States. It is envisaged that this next-generation 5G mobile network will allow constant connection between vehicles and facilities across the country. Moreover, the U.S. government is spending enormous sums to construct smart cities around the country. It is projected that the 5G network infrastructure deployment would increase new installations of telecom equipment and other networking devices, consequently driving the market for passive and interconnecting electrical components.

 

Competitive Players

In the global passive and interconnecting electronic components market major key players are

  • 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
  • HVP Global LLC.

 

Recent Developments

  • In June 2022, TT Electronics to Feature FlexSense and Industry-leading Optoelectronics Sensors Portfolio at Sensors Converge 2022.
  • In June 2022, TT Electronics to Feature Advanced Passenger Interface and Lighting Technologies at Aircraft Interiors Expo.
  • In April 2022, AVX Corporation, New Horizontal Wire-To-Board Connectors For Industrial And Commercial Applications.
  • In June 2022, Axians Teams with Cisco to Help Enterprises in Germany and the Netherlands Digitize and Expand IoT with Cisco Private 5G.

 

Global Passive and Interconnecting Electronic Components Market: Segmentation

By Components

  • Passive
  • Interconnecting

By Applications

  • Consumer Electronics
  • IT and Telecommunication
  • Automotive
  • Industrial
  • Aerospace and Defense
  • Healthcare

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA
Price Starts From
USD4250

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Samsung Electronics
Qualcomm
LGE
Need Assistance?
+1 646 480 7505 (U.S.)
+44 208 068 9665 (U.K.)
Looking For Custom Report ?

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Check Our License Options :
Report Snapshot

As featured on :

clients
Trusted by Fortune 500
Over 30000+ subscribers