The Latin America, Middle East and Africa Thin Film Chip Resistor Market would witness market growth of 7.4% CAGR during the forecast period (2022-2028).
The way people move around has fundamentally changed due to technological breakthroughs, changing consumer tastes, tightening restrictions, and other factors. To reach where they need to go, an increasing number of individuals are using various modes of transportation. In the future, they could want the freedom to choose the best solution whenever they need it via their smartphones. As a result, the need for thin film chip resistors would rise as technological integration becomes more necessary.
Nowadays, consumer electronics are a part of everyone's daily lives. Consumer electronics are now viewed as a need for living in the modern world. As a result, it is challenging to imagine a world without consumer goods. Some of the major everyday consumer items could range from personal devices like smartphones, tablets, computers, wearable technology. Smartphones are more sought-after than other items since everyone owns one. The widespread use of these devices has increased the demand for thin film chip resistors.
In this region, the UAE is progressively establishing a reputation as a technical center. Dubai, a city with a developing tech district, is home to several multinational corporations, including Google and Microsoft. In addition, well-known inventors like Apple are now opting to introduce some of their most recent goods in this region of the Middle East because they are aware of the region's growing economic potential. The demand for consumer electronics has skyrocketed in the UAE in recent years. Additionally, regional companies are rapidly increasing the implementation of automation in their industries. This supports the growth of the regional market.
The Brazil market dominated the LAMEA Thin Film Chip Resistor Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.4 million by 2028. The Argentina market is experiencing a CAGR of 7.9% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 7.1% during (2022 - 2028).
Based on End User, the market is segmented into Industrial Equipment, Consumer Electronics, and Others. Based on Application, the market is segmented into Instrumentation, Electronic Digital Products, Electric Power Equipment, Medical Instruments, Power Supply, and Others. Based on Type, the market is segmented into Ultra Precision 0.05% Tolerance, 0.1% Tolerance, 1% Tolerance, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Thin Film Chip Resistor Market is Projected to reach USD 885.9 Million by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bourns, Inc., International Manufacturing Services, Inc., KOA Speer Electronics, Inc. (KOA Corporation), ASJ Pte Ltd. (ASJ Holdings Ltd.), Cal-Chip Electronics, Inc., Hong Kong Resistors Manufactory, Micro-Ohm Corporation, Mini-Systems, Inc., Ohmite Manufacturing Co. (Heico Companies LLC), and Susumu Co., Ltd.
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