Passive and Interconnecting Electronic Components Market to Hit USD 273.9 Bn by 2030

November 25, 2021

The passive and interconnecting electronic components market size is projected to hit USD 273.9 billion by 2030 from at USD 176 billion in 2021, growing at a CAGR of 5.6% from 2021 to 2030.

/EIN News/ -- Tokyo, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Announced New Report on “Passive and Interconnecting Electronic Components Market (By Component: Passive, Interconnecting; By Application: Consumer Electronics, IT & Telecommunication, Automotive, Industrial, Aerospace & Defense, Healthcare and Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030”.

Passive and interconnecting electronic components are used as essential parts of electronic devices, such as smartphones, computers, electrical home appliances, and gaming consoles. They are considered the backbone of computers, consumer electronics, telecommunications, and many other industries. It includes sockets, connectors, printed circuit boards, relays, switches, and many others.

Get Report Sample Copy OR Any Customization Requirement@ https://www.precedenceresearch.com/customization/1372

Crucial factors accountable for market growth are:

Regional Snapshots

The Asia Pacific region leads the Passive And Interconnecting Electronic Components Market contributing a revenue share of more than USD 97.1 billion in 2020 and is estimated to grow significantly during the forecast period due to the presence of major market players investing heavily for the development of the Passive And Interconnecting Electronic Components market. For instance, On 15th April 2021, Samsung Electro-Mechanics developed the world's first ultra-small, high-capacity MLCC new product with the best performance, and is now establishing itself as the industry leader in the high added-value IT MLCC market. MLCC is a key component in electronic devices that regulates the steady flow of electric current within the circuit, and it's crucial for products like smartphones, household appliances, and automobiles.

Market Dynamics

Driver

The rise in demand for the deployment of 5G network services across the world is a major factor that is estimated to drive the growth of the Passive And Interconnecting Electronic Components. Also, the integration of automation with the electronics components is yet another factor that fosters the market growth. For instance, On 16th September 2021, The new TCO Series high-temperature, automotive-grade polymer chip capacitors, which are rated for operating temperatures up to 150°C at category voltage and meet AEC-Q200 Stress Test Qualification for Passive Components requirements, have been released by AVX Corporation, a leading manufacturer and supplier of advanced electronic components and interconnect, sensor, control, and antenna solutions.

Restraint

The major restraining factor that will negatively impact the growth of the Passive And Interconnecting Electronic Components Market includes drop in the global commodity prices and the surge in complexity of the passive and interconnecting electronic components in order to ensure high functionality.

Opportunity

The desire for availing the remote communication facilities and the implementation of the 5G network infrastructure across the globe are the factors that is expected to find huge growth opportunities which will trigger the market growth.

Challenges

The increase in complexity of the passive and interconnecting electronic components in order to provide high functionality is the major challenge encountered by the passive and interconnecting electronic components market that is anticipated to hinder the market growth.

Report Highlights

Recent Developments

Click Here to View Full Report Table of Contents

Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1372

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

For Latest Update Follow Us:

https://www.linkedin.com/company/precedence-research/

https://www.facebook.com/precedenceresearch/

https://twitter.com/Precedence_R