Global Passive And Interconnecting Electronic Components Market Size, Share & Industry Trends Analysis Report By Type (Interconnecting, and Passive), By Interconnecting Type, By Passive Type, By Application, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Passive And Interconnecting Electronic Components Market
Market Report Description
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.
COVID-19 Impact Analysis
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.
Market Growth Factors
Innovations in the Technological and Electronics Sector
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.
Implementation of Internet of Things (IoT)
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.
Market Restraining Factors
Price Competition in the Market
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.
Interconnecting Type Outlook
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.
Passive Type Outlook
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.
|Market size value in 2021||USD 174.1 Billion|
|Market size forecast in 2028||USD 248.5 Billion|
|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|
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.
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).
Strategies Deployed in Passive And Interconnecting Electronic Components Market
» Product Launches and Product Expansions:
- Mar-2022: TE Connectivity introduced Generation Y 68P Sealed Hybrid Inline Connector, an innovative product that allows ease of manufacturing for OEMs, decreases the number of connections, simplifies supply chain complexity, and decreases cost. The new Generation Y 68P is a versatile solution that integrates signal, power, and data connectivity into one connector. The Generation Y 68P sealed hybrid inline connector is a small and dependable solution that solves the ongoing industry problems faced by OEMs and can affect the supply chain positively and cost-effectively.
- Feb-2022: Vishay Intertechnology expanded its fourth-generation 600 V EF Series fast-body diode MOSFETs product line by introducing a new device to it. The new device, called the Vishay Siliconix n-channel SiHH070N60EF, reduces resistance by 29 percent compared with previous-generation devices. Vishay provided a wide range of MOSFET technologies that assist all stages of the power conversion process, from high voltage inputs to the low-voltage outputs necessary to power the latest high-tech equipment.
- Sep-2021: TE Connectivity launched the NanoRF Edge Launch connector, the only solution that can integrate the RF above an optical interconnect for military and radar RF embedded computing applications. The NanoRF connector addresses the meticulous prerequisites of VITA 67.3 to offer an easy and standardized interface with VPX plug-in computing modules including RF switches, tuners, software-defined radios, and other embedded computing systems.
- Arp-2020: Vishay Intertechnology expanded its IHLE product line with the introduction of new commercial and Automotive Grade devices in the 5050 case size. The IHLE product line was a series of low-profile, high-current inductors consisting of integrated e-shields for the reduction of EMI. The Vishay Dale IHLE-5050FH-51 and IHLE-5050FH-5A, two new devices introduced, lower costs and save board space by removing the need for individual board-level Faraday shielding. The IHLE-5050FH-51 are designed to be used in desktop PCs, and servers; high current POL converters; low profile, high current power supplies; and battery-powered devices.
- Jul-2019: Panasonic launched a connector with a distinct structure that enables a direct connection between an automotive FPC (flexible printed circuit) and the board. The connector removes the requirement for wire harnesses earlier needed for connection, enabling the use of fewer components and fewer assembly person-hours for vehicles, as well as creating space for better design of automotive LED lights, etc.
» Acquisitions and Mergers:
- Aug-2021: TE Connectivity completed the acquisition of ERNI Group AG (ERNI), a leading firm in electronic connectivity for factory automation and automotive. The acquisition complemented TE’s wide connectivity product portfolio, especially in high-speed and fine-pitch connectors for factory automation, automotive, medical, and other industrial applications. ERNI improved TE’s stronghold on engineering and manufacturing, capabilities in board connectivity, and increased TE’s customer base and presence in various attractive market segments.
- Oct-2020: Vishay Intertechnology acquired Applied Thin-Film Products, a global provider of manufactured thin film products. The acquisition enabled Vishay Intertechnology to substantially improve and solidify its thin film products portfolio, particularly for thin film circuits and interconnect products. Additionally, the acquisition fitted well with Vishay's existing thin film business. It was another move in Vishay's strategy to grow its specialty businesses.
- Jun-2019: TE Connectivity acquired Kissling group of companies, the manufacturer of sealed switching solutions for the commercial transportation, industrial, military, and aviation industries as well as other applications. The acquisition enabled TE to further expand its portfolio of specialty relays and switches to fulfill the needs of industrial and commercial transportation customers – truck, bus, construction, and other specialized vehicle manufacturers, encountering greater high voltage and power management requirements as they develop next-generation vehicles.
Scope of the Study
Market Segments Covered in the Report:
- Resistors & Inductors
- Consumer Electronics
- Aerospace & Defense
- IT & Telecom
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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
- Koch Industries, Inc. (Molex LLC)
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