According to a new report, published by KBV research, 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.
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 widespread use of interconnecting electronic components in applications such as robotics, data transfer, automation, and entertainment is driving this trend. Furthermore, as the demand for optical interconnects and fiber optic connectors in data processing and telecommunication applications grow, so does the demand for connectors.
The IT & Telecom segment is showcasing a CAGR of 5% during (2022 - 2028). Leading telecom operators are investing extensively in order to give increased bandwidth experience to their clients, and 5G telecom equipment deployment is fast expanding. Thus, throughout the projected period, the increased demand for network devices and telecom equipment is expected to propel the IT and telecommunication segment growth in the market for passive and interconnecting electrical components.
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. The Europe market is estimated to witness a CAGR of 4.8% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 4.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/passive-and-interconnecting-electronic-components-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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).
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