Integrated Passive Device Market Revenue and Demand by 2023; Major Players - ON Semiconductor, STATS ChipPAC Ltd., STMicroelectronics, Murata, Johanson Technology, Inc. and OnChip Devices, Inc.

The global integrated passive device market is expected to register high growth during the forecast period, with the market projected to reach $1,572.3 million by 2023, witnessing a CAGR of 8.4% during 2019-2023. Integrated passive devices are widely used for applications such as digital and mixed signals, LED lighting, RF applications and ESD/EMI protection.

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Baluns are expected to contribute the largest revenue to the global IPD market throughout the forecast period. Anticipated supremacy of the baluns segment can be attributed to their extensive utilization in almost all applications, where these devices are being used.

Among regions, Europe, Middle-East and Africa (EMEA) are expected to contribute the highest revenue to the global integrated passive device market during the forecast period. Existence of fabrication and IPD manufacturers are the major factors responsible for the growth of IPD market in Europe. In EMEA, the European countries contribute the largest to the rapidly growing IPD market. The growth in Europe can be attributed to the surge in demand for IPD products, as it has been an early adopter of new technologies. Asia-Pacific (APAC) is expected to register the highest growth in the global integrated passive devices market during the forecast period.

Growth of the IPD market in APAC is largely driven by rapid growth in emerging economies such as China, South Korea, Taiwan and India. Furthermore, presence of these countries offer profit-making imperatives for the IPD market owing to the rapid advancements in the telecommunication, infrastructure and consumer electronics in Asia-Pacific.

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The major players operating in this market include On Semiconductor, Stats ChipPAC, STMicroelectronics, Murata-IPDiA, Johanson Technology, Onchip Devices, AFSC and Infineon.

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