Rising Need for Efficient Consumer Electronic Products is Strengthening the Global Interconnects and Passive Components Market

Pune, India, March 2023/MRFR Press Release/- Market Research Future published a Cooked research report on “Global Interconnects and Passive Components Market 

Interconnect and Passive Components Market Highlights

The Interconnect and Passive Components Market is predicted to reach USD 296,717.3 Million by 2030, registering a 6.1 % CAGR during the forecast period, 2022–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. Electronic components that are passive and interconnected are essential components of electronic devices such as smartphones, computers, gaming consoles, and home appliances. Passive electronic components are those that need energy. It does not generate energy, is incapable of gaining power, and requires no electrical power to function. They only absorb energy. Resistors and capacitors are two examples of passive electronic components. Printed circuit boards (PCB), connectors/sockets, switches, relays, and other interconnecting components are examples. The expansion can be ascribed to its extensive use in electronic devices like as digital cameras, game consoles, and others to transfer media, material, and other applications.

The market for passive and interconnect is driven by the rising number of computing, communications, and consumer electronics (3C) applications. The fundamental elements of all types of electrical equipment and devices are passive components. These parts make up electronic circuitry and have served as the main pillars of numerous sectors, including computing, communications, and consumer electronics. A current flow can be resisted, interrupted, or influenced by passive components, which can also improve or complement integrated circuit performance (ICs). A range of active and passive components are connected via interconnects in an electronic assembly that regulates a system. One of the most used connectivity types in telecommunication and consumer electronics applications are connectors. According to the Electronics Web, personal computers have been a driving factor for the growth of the connector industry in the US. Currently, there is a huge demand for high-speed and high-bandwidth networks; hence, compatible connectors are introduced. Connectors provide a detachable link to electronics devices, various circuit boards, peripherals, and among others.

Furthermore, the utilisation of passive components and interconnects in the telecommunications sector is anticipated to increase over the next few years as a result of technological improvements like the switch from 3G to Voice over Long-Term Evolution (LTE)/4G and 5G. Mobile phones, landlines, set-top boxes, remote controllers, base stations, and network equipment are examples of telecommunications applications. Globally, the use of passive components and interconnects in the telecommunications industry is rising as a result of the smartphone revolution's major impact on the mobile handset market. The global interconnects and passive components market is thus being driven by the rising demand for passive components and interconnects from computing, communication, and consumer electronics applications.

Access full report @ https://www.marketresearchfuture.com/reports/interconnects-and-passive-components-market-2411

Segmental Analysis

The scope of the global Interconnect And Passive Components market has been segmented based on component type, application, and region.

The global Interconnect And Passive Components market, in this report, has been segmented on the basis of component type into Passive and Interconnects. During the projected period, the demand for Interconnects segment is expected to grow rapidly.

By application segment of Interconnects and Passive Components market has been segmented into Consumer Electronics, IT & Telecommunications, Automotive, Industrial, Aerospace & Defense, Healthcare, and Others. During the projected period, the IT & telecommunication segment is expected to rise rapidly.

Regional Analysis

Geographically, the global Interconnect And Passive Components  market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Europe accounted for third-largest revenue share in 2021. Some of the factors contributing to the growth of the Interconnects and Passive Components market in the Europe include Significant Adoption of IoT Devices in the Industrial Sector, Rising Demand for Passive and Interconnecting Components in 3C Applications, and Increasing Demand for Miniaturized and High-Performance Electronic Devices. Also, Advancements in Industrial M2M Communications and Rising Industrial Automation, the Need for Passive Components in Mission Critical Markets, and the Growing Need for High-Reliability Electronic Components are contributing to the growth of the market. Leading companies such as Panasonic Corporation in this region, are investing significantly in the research & development activities to remain competitive in the market.

Strong demand and allocation continue to drive European semiconductor and passive components distribution (DMASS) in first quarter of 2022. DMASS reports Q1 growth of 43.5% in semiconductors and 35.7% in interconnect, passive and electromechanical components. On the back of a strong 2021, a huge order book, and ongoing shortages in key components, European components distribution again reported a significant growth in its first calendar year quarter. According to DMASS Ltd., semiconductor sales, as reported by members, grew by 43.5% to a new record 3.13 billion Euro (3.24 billion USD). IP&E (Interconnect, Passive, and Electromechanical) components grew by an equally impressive 35.7% to 1.62 billion Euro (1.67 billion USD). In total, the market grew by 40.8% to 4.75 billion Euro (4.92 billion USD). Additionally, EU companies supplying the semiconductors industry have only 37% of their customers in the EU, on average. Their EU customers producing electronic components and loaded electronic boards are mostly located in Germany and France, followed by Belgium, and the Netherlands.

Key Players

Some of the key players in the global market are KYOCERA AVX COMPONENTS CORPORATION. (KYOCERA CORPORATION), Molex LLC, Panasonic Corporation, Ametek Inc., Amphenol Corporation, Vishay Intertechnology, Inc., Murata Manufacturing Co. Ltd., TDK Corporation, Samsung Electro-Mechanics, Hosiden Corporation, Fujitsu, TE Connectivity, Hon Hai Precision Industry Co. Ltd., HIROSE Electric Co. Ltd., and Mouser Electronics, Inc.