Ongoing Study Traces the Expansion of Electronic Components Market during 2021 | Straits Research

Electronic Components Market

The global electronic components market is expected to grow from USD 375.2 billion in the year 2019 to USD 522.1 billion in 2029 at a compound annual growth rate (CAGR) of 9% in the forecast period.
An electronic component is any simple discrete device used to influence electrons or related fields in an electronic system, assisting in circuit operation. A variety of electrical terminals have computer parts. Further, to create an electronic circuit, these terminals link to other electrical components. Electronic circuit guides and regulates the electric current, including signal amplification, computation, and data transfer, to perform different functions. It contains various elements, including resistors, transistors, condensers, inductors, and diodes.

With the amplification of advanced technologies and the effective usage of internet networks in manufacturing, there has been a boom in the IoT industry and IoT applications. The infrastructure of the Internet of Things is undergoing major advances. As reported in the Mobile Economy 2020, released by the GSM Association, the number of devices connecting to the Internet—i.e., IoT connections are estimated to hit 25 billion in 2025, from 12 billion in 2019. In a few years, the greater involvement of IoT devices will gradually connect computers to software and link users to essential resources, streamline the corporate workflow, and benefit people.

Electronic components have a wide variety of modes of failure, such as excess temperature, excess current or voltage, ionizing radiation, mechanical shock, stress or effects, and many other factors that can be responsible for failures. Problems in the product packaging can cause failures in semiconductor devices due to corrosion, device mechanical tension, or open or short circuits. Some of the common failures are packaging failures, contact failures, printed circuit board failures, relay failures, semiconductor failures, passive element failures, and MEMS failures. The recurring failures are a cause for concern, thereby restraining the growth of the market.

Transistors, diodes, triodes, optoelectronic modules, photoelectric tubes, and integrated circuits are some of the active electronic components. Because of its vast number of applications, such as electronic cameras, microphones, laptops, among many others, integrated circuits are quite in demand active electronic part. Besides, it has been the most profitable of a large range of technical advances in integrated circuits, such as modular IC and multi-layered IC.

The automotive sector caters to the largest share owing to its high dependence on the passive components. Further, Modern Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles need electronic components more than ever before in the control electronics, driving the need for passive components. With the high requirement, manufacturers and suppliers are striving to keep up with the accelerating pace of technological advances.

Asia-Pacific is accounted for the maximum share in the global electronic components market due to the presence of favorable technical infrastructure in countries, such as Japan, South Korea, and China. Cost-effective manufacturing and the presence of a large amount of inexpensive labor in China and India has bolstered the growth of the market. As of 2020, the Asia-Pacific region encompasses approximately 61.7% of the total world population, thus holding a major share in the global trade and an impact on the shipments and the adoption of consumer electronic goods.

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The Major Prominent Players Covered in this Report:
NXP Semiconductors N.V.
Panasonic Corporation
Renesas Electric Corporation
API Technologies
AVX Corporation
Eaton Corp.
Datronix Holdings
Fujitsu Component
FCI Electronics
Hitachi AIC

By Type, Cloud, On-Premise,
By Application, K-12, Higher Education, Corporate

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2021 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Electronic Components Market Trends:
- The report identifies, determines, and forecasts the Global Electronic Components Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Electronic Components Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Electronic Components Market.

Recent Developments
In 2019, Eaton acquired Innovative Switchgear Solutions, a specialty manufacturer of medium-voltage electrical equipment serving the North American utility, commercial and industrial markets. The acquisition was aimed to complement the former company's product portfolio of medium-voltage switchgear solutions.

In 2019, Eaton completes the acquisition of a controlling interest in Ulusoy Elektrik. The acquisition aims at expanding its IEC offerings in EMEA.

Key Questions Answered in The Report:
What will the Electronic Components market growth rate?
What are the key factors driving the global Electronic Components market?
Who are the key manufacturers in the Electronic Components market space?
What are the market opportunities, market risk, and market overview of the Electronic Components market?
What are sales, revenue, and price analysis of top manufacturers of the Electronic Components market?
Who are the distributors, traders, and dealers of the Electronic Components market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Electronic Components Industry?
What are sales, revenue, and price analysis by regions of Electronic Components industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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This release was published on openPR.