The Global Passive And Interconnecting Electronic Components Market size is expected to reach $248.5 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period.
In terms of physical architecture and the terminology of circuit models that describe electrical behavior in more complicated systems, passive components constitute the cornerstone of all electronics. Passive electronic components are found in many integrated circuits, and many circuit boards incorporate discrete passive components. They're employed for a variety of tasks, including power conversion, power stability, filtering, and IC configuration. Passive electronic components do not produce electricity; instead, they dissipate it (in the case of resistive components) or store it (in the case of capacitors) (in reactive components).
All passive electronic components work without a power source; they merely influence the flow of electricity, and the electrical output cannot be changed by a power source from outside. Capacitors, resistors, and inductors are the three basic passive electrical components. Transformers, thermistors, diodes, varactors, transducers, and a variety of other common components are examples of passive components.
Over the forecast period, the market for passive and interconnecting electronic components is expected to be driven by the rapidly increasing adoption of smartphones and laptops in developing nations such as India and China. The infrastructure for 5G networks is fast being deployed in key countries such as the United States, China, South Korea, Japan, and the United Kingdom. Consumer demand for high-speed internet connectivity has risen as a result of impending 5G services and a growing need for high-speed internet access. The huge increase in demand for 5G devices from a variety of industries, including industrial, automotive, and consumer electronics, is likely to drive the adoption of passive and interconnected electrical components.
The pandemic has had a substantial impact on the international market for passive and interconnected electrical components. The pace of new projects around the world has decreased, and there is less need for passive and linking electrical components. Workers have stayed at home, causing worldwide manufacturers to struggle to produce and assemble new devices, and even the already existing devices in various warehouses cannot be transferred due to present rules and restrictions, disrupting global supply chains. COVID-19 has a temporary impact on the market size for passive and interconnected electronic components because only the manufacture and supply chain is halted. Production, supply networks, and demand for these products will gradually improve as the situation improves.
Continuous creative innovations and the introduction of improved technologies in the realm of electronics are driving the growth of the passive and interconnecting electronic components market across multiple regions. Furthermore, consumer electronics such as music players, digital cameras, and laptops are driving the need for passive and interconnected electrical components. The innovation and incorporation of navigation and infotainment features, such as the Global Positioning System (GPS), are, on the other hand, propelling the market forward. The market demand is being boosted by rapidly expanding 5G network infrastructure combined with high-speed internet.
IoT devices are altering the industrial sector around the world, allowing manufacturing facilities to improve their operational efficiency and overall production by providing easy operability and reducing total system downtime. Furthermore, as a result of the advancement of Industrial 4.0, many industrial facilities have begun to deploy a variety of connected devices in order to streamline operational operations through remote monitoring. The widespread use of IoT devices in a variety of industrial applications, such as motion control and process automation, is expected to drive the market for passive and interconnected electrical components to new heights in the coming years.
Hardware prices are decreasing across the globe due to advancements in device technology; but, expenses in production are increasing due to the ongoing demand for more sophisticated and diverse sorts of products. Furthermore, price reductions in passive components and interconnects are the results of fierce competition among players from various areas. More and more players are entering the passive and interconnecting electronic components market. Hence, there is a growing price competition, which has forced the hands of all players into keeping the price of their products low to maintain their market share. Thus, the profits of larger firms have taken a hit. This has a negative impact on the cost of developing new items or innovative technology-driven products.
Based on Type, the market is segmented into Interconnecting, and Passive. The passive segment procured a significant revenue share in the passive and interconnecting electronic components market in 2021. Electronic components that consume energy are known as passive electronic components. It does not generate energy, is incapable of gaining power, and operates without the use of electricity.
Based on Interconnecting Type, the market is segmented into Connectors/Sockets, PCB, Switches, Relays, and Others. The PCB sub-segment procured a significant revenue share in the passive and interconnecting electronic components market in 2021. A printed circuit board, or PCB, is a device that uses conductive paths, tracks, or signal lines etched from copper sheets laminated onto a non-conductive substrate to mechanically support and electrically connect electronic components.
Based on Passive Type, the market is segmented into Capacitors, Resistors & Inductors, Transformers and Diode. The capacitors sub-segment acquired the highest revenue share in the passive and interconnecting electronic components market in 2021. A capacitor is an electrical energy storage device that operates in an electric field. It's a two-terminal passive electrical component. This is due to the high demand for various types of capacitors in consumer electrical gadgets, industrial applications, and other uses.
Based on Application, the market is segmented into Consumer Electronics, Aerospace & Defense, IT & Telecom, Automotive, Industrial, Healthcare and Others. The consumer electronics segment acquired the highest revenue share in the passive and interconnecting electronic components market in 2021. Due to the increased usage of many consumer devices, home appliances, mobile phones, set-top boxes (STB), and wearable devices, the consumer electronics category leads the market. This is mostly due to the rising demand for passive and linking components for a variety of consumer products, including smartphones, wearable’s, set-top boxes (STBs), and household appliances.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 174.1 Billion |
| Market size forecast in 2028 | USD 248.5 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 5.3% from 2022 to 2028 |
| Number of Pages | 316 |
| Number of Tables | 500 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific acquired the highest revenue share in the passive and interconnecting electrical components market in 2021. This is mainly due to the Asia Pacific becoming a major manufacturing hub of automotive and electronics in the world. The increasing per-capita wealth of countries, the broad growth of the construction industry in the region, and the existence of a significant number of passive and interconnected electronic component manufacturers in the aforementioned countries all contribute to the region's market growth.
Free Valuable Insights: Global Passive And Interconnecting Electronic Components Market size to reach USD 248.5 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TE Connectivity Ltd., Samsung Electro-Mechanics Co., Ltd. (Samsung Group), Fujitsu Limited, Vishay Intertechnology, Inc., Panasonic Corporation, Rohm Semiconductors Co., Ltd., TDK Corporation, Murata Manufacturing Co., Ltd., Yageo Corporation, and Koch Industries, Inc. (Molex LLC).
By Type
By Application
By Geography
The passive and interconnecting electronic components market size is projected to reach USD 248.5 billion by 2028.
Innovations in the Technological and Electronics Sector are driving the market in coming years, however, Price Competition in the Market limited the growth of the market.
TE Connectivity Ltd., Samsung Electro-Mechanics Co., Ltd. (Samsung Group), Fujitsu Limited, Vishay Intertechnology, Inc., Panasonic Corporation, Rohm Semiconductors Co., Ltd., TDK Corporation, Murata Manufacturing Co., Ltd., Yageo Corporation, and Koch Industries, Inc. (Molex LLC).
The Interconnecting segment acquired maximum revenue share in the Global Passive and Interconnecting Electronic Components Market by Type in 2021, thereby, achieving a market value of $135.7 billion by 2028.
The Asia Pacific market dominated the Global Passive And Interconnecting Electronic Components Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $97.01 billion by 2028.
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