Passive and Interconnecting Electronic Components Market Growth with Worldwide Industry Analysis to 2024

Semiconductor and Electronics

The burgeoning demand for combined modules such as system-on-a-chip and multichip is providing a significant momentum to the global market for passive and interconnecting electronic components. They form an indispensable part of the electronics industry and therefore, the growing trend of automation is benefitting the market. The lower prices, good availability, and shorter lead times of these components are auguring well for the profitability of manufacturers, thereby reflecting positively on the overall revenue generation of the market.

The report presents a 360-degree view of the global passive and interconnecting electronic components market. Primary and secondary research have come into play while collating this research report. Various paid and unpaid sources such as white papers, presentations, press releases, and journals have been referred to compile this study. The report serves as a reliable business tool with extensive information regarding various critical parameters of the market including its dynamics, geographical segmentation, and competitive landscape. It profiles key players in the market along with their latest developments, market shares, and business strategies.

The growth of the global passive and interconnecting electronic components market is primarily supplemented by the continuous innovations and introduction of advanced and efficient technologies in the electronics industry. The proliferation of consumer electronics such as portable music players, digital cameras, laptops, and gaming consoles is providing a considerable push to the market. Moreover, the increasing incorporation of infotainment and navigation features such as global positioning systems (GPS) in automobiles is working in favor of the growth of the market. The emergence of remote communication facilities is also contributing to the growth of the market.

Despite the tremendous potential, the growth of the market is adversely affected by the overall drop in the global commodity prices. Furthermore, with the rising advancements to ensure high functionality, the complexity of passive and interconnecting electronic components is increasing. This, in turn, is negatively influencing the growth of the market.

The global passive and interconnecting electronic components market can be broadly classified into passive electronic components and interconnecting electronic components. Passive electronic components can be further divided into resistors, inductors, transformers, and capacitors. The sub-segments of interconnecting electronic components are printed circuit boards, relays and switches, connectors, and others. Both passive and interconnecting components have a widespread adoption across industries such as consumer electronics, automotive, healthcare, telecommunication, defense services, industrial, and information technology (IT).

Based on geography, the market can be categorized into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is poised to experience a robust growth over the forecast horizon owing to the rising demand for electronic components from various industrial verticals including consumer electronics, healthcare, telecommunication, and IT. The shift towards higher communication standards such as 4G LTE and 5G is likely to positively influence the growth of the market. Moreover, the rapidly growing number of internet users in countries such as India and China is boosting the demand for these components in the region.

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The presence of a large number of players in the global passive and interconnecting electronic components market is resulting in intense competition. Some of the key players in the market are API Electronics Inc., EDAC Inc., Hosiden Corp, AVX Corporation, AB Connectors Limited, Cisco Systems Inc., American Electronic Components Inc., Philips Electronics NV, Fujitsu Component Limited, Yageo Corporation, Panasonic Electronic Devices Co. Ltd, Delphi Connection Systems, and Hirose Electric Co. Ltd.