Interconnects and Passive Components Market - The Growing Adoption of Automation Across Different Industries

Interconnects refer to the electrical component that connects two or more electrical elements together. An interconnect joins electric conductors electrically and mechanically to other conductors and to the terminal of other electrical devices. Passive components refer to the electrical components that consume power in an electrical circuitry which consists of resistors, inductors, capacitors, and transformers. Various components such as filters, baluns and diplexers, among others can be realized with the help of passive elements.

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There are various types of interconnects that are offered by manufacturers for various applications that can be used for electronic cable connectors, DIN connectors, or board to board connectors. The various applications for which the interconnects are used include and are not limited to HVAC equipment, cellular phones, hubs, routers, wireless communication devices, high speed connectivity devices, and GPS devices, among others. Interconnects connect the various elements on the PCB to the integrated circuit (IC) to each other and eventually to the outside world. Regarding the passive devices, they are used in order to control the flow of current or regulate the voltage in an electrical circuitry.

On an advanced level, the passive components can be integrated to realize various devices such as baluns, RF, EMI filter, and diplexer, among others which are used predominantly for wireless applications. With the help of passive devices, it is possible to reduce the size of the electronics components and ensure better performance coupled with lower power consumption. It also helps in reducing the cost of electronics. There is a growing trend to reduce the size of electronics devices and launching innovative and technologically advanced products by manufacturers in the market on a timely basis to stay ahead of the competition.

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The spike in the growth of the consumer electronics industry is said to be the primary driver for the interconnects and passive components market as these elements are increasingly used in various electronics such as cellular phones, GPS devices, modems, tablets, and wearables. Additionally, there is a growing need for these components across a wide range of industries such as automotive, telecommunications, military and defense, and healthcare. Continuous innovations and launch of new products by various manufacturers is supplementing the growth of the market. The growing adoption of automation across different industries will stir the need for communication devices which employ interconnects and passive components. Furthermore, the increasing generation of data and the advent of high speed internet is further fuelling the growth of the market.
However, the decreasing margins of interconnects and passive components may hamper the growth of the market. Nevertheless, the growing need for these components across various industries is set to propel the growth of the interconnect and passive components market.

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The interconnects and passive components market has been segmented on the basis of product type, application, and geography. Based on product type, the market has been divided into passive components and interconnects. Based on application, the market has been segregated into consumer electronics, data processing, telecommunication, automotive, industrial, healthcare, and others. In terms of geography, the interconnects and passive components market has been divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America.

Some of the key players in the interconnects and passive components market includes TE Connectivity Ltd, Delphi Automotive LLP, Hirose Electric Co., Ltd., Murata Manufacturing Co., Ltd, Johanson Technology, Inc., STMicrotonics, ON Semiconductor Corporation, NXP Semiconductors, and Infineon Technologies AG, among others.

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