Overview:
The global passive and interconnecting components market was valued at US$ 194.6 Bn in 2021 and is projected to witness noteworthy growth, expanding at a CAGR of 5.1% during the forecast period from 2023 to 2030. Electronic components form an important part of electronic circuitry. These components are used increasingly in several industries including medical electronics, automotive, aerospace & defense, etc. and are of great importance in the telecommunications and consumer electronics sector. Technological advancements have steered multifaceted circuitry that offers high functionality and easy adoption in wide range of applications. Growing trends of highly efficient electronic components and optimization of processes in terms of costs and energy saving have led to an increase in advancements in the electronics sector. As a result, continual innovation and introduction of advanced technologies in the consumer electronics sector is thereby supplementing the growth of the overall passive and interconnecting components market worldwide.
"Interconnecting Components Garnered Largest Market Share in 2021"
In 2021, interconnecting components garnered largest market share in the global passive and interconnecting components market. The segment is likely to grow at a substantial rate during the forecast period from 2023 to 2030. Interconnect is the mechanical and electrical connectivity between two or more terminals that connects the device together. These components mainly comprises of printed circuit boards, connectors, switches, etc. Interconnects are mainly used for connecting every passive component and are responsible for the flow of current between two conductors and electric circuits. Interconnecting components are of great importance in many modern electronic systems. Growing adoption of interconnects across various end-use industry verticals is expected to enhance the growth of this segment in the coming years.
"Asia Pacific to Continue its Supremacy during the Forecast Period from 2023 to 2030"
The global passive and interconnecting components market, based on geography was led by Asia Pacific in 2021. The region is expected to continue with its dominance and have an upper hand in the market. The presence of strong semiconductors and electronic companies such as Fujitsu Component Limited, Foxconn Technology Group, Hirose Electric Co., Ltd., etc. are providing diverse business opportunities to the regional passive and interconnecting components market throughout the forecast period from 2023 to 2030.
The major players identified in the passive and interconnecting components market include TE Connectivity, Amphenol Corporation, Hirose Electric Co., Ltd., Fujitsu Component Limited, Molex, LLC, TTI, Inc., TT Electronics Plc., AVX Corporation, Foxconn Technology Group (Hon Hai), Burndy LLC, Panasonic Corporation, 3M, KYOCERA Corporation, and YAGEO Corporation among others. These players are incessantly focusing on strengthening their product portfolio in order to cater the rising needs of the customers. New product development, product innovation and partnerships remains some of the major strategies adopted by the leading players to have an edge over their counterparts.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Passive and Interconnecting Components market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
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Key questions answered in this report
