Press release
Interconnect And Passive Components Market 2024 - By Size, Demand, Trends, Top Companies, Growth Drivers And Forecast 2033
"The interconnect and passive components market size has grown strongly in recent years. It will grow from $188.94 billion in 2023 to $202.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to booming consumer electronics, telecommunications expansion, industrial automation, growing automotive electronics.
The interconnect and passive components market size is expected to see strong growth in the next few years. It will grow to $257.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to 5g network rollout, electric vehicle (ev) revolution, internet of things (iot) expansion, growing aerospace and defense. Major trends in the forecast period include miniaturization and technology advancements, high-frequency and rf components, sustainable and eco-friendly components, customization and modular designs developments.
Market Overview -
Interconnects and passive components refer to hardware that permits signal and power transmission between electronic components, with resistors and capacitors serving as passive components that support signal processing without generating energy. They play a crucial role in establishing connections, managing signals and ensuring the overall performance of electronic devices.
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Consumer Electronics Production Driving Growth In Interconnect And Passive Components Market
The increasing production of consumer electronics is expected to propel the growth of the interconnect and passive components market going forward. Consumer electronics refers to electronic devices and gadgets designed for personal use by individuals for entertainment, communication, productivity and other everyday purposes. Consumer electronics production will fuel the need for interconnect and passive components as they enable seamless connectivity, miniaturization and enhanced functionality within consumer electronic devices, meeting the demands of modern product complexity and integration. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total electronic equipment production in Japan accounted for $6,722 million (¥771,457 million). In addition, consumer electronics production reached $280 million (¥ 32,099 million) in May 2023, compared to $230.9 million (¥25,268 million) in May 2022. Therefore, increasing the production of consumer electronics will drive the growth of the interconnect and passive component market.
Competitive Landscape -
Major players in the interconnect and passive components market are Foxconn Electronics Inc., Nichicon Corporation, Koch Industries Inc., Panasonic Corporation, Cisco Systems Inc., KYOCERA AVX Components Corporation, TE Connectivity Corporation, TDK Corporation, Molex Incorporated, YAZAKI Corporation, Amphenol Corporation, Murata Manufacturing Co. Ltd., Samsung Electro-Mechanics Co. Ltd., AMETEK Inc., Hubbell Inc., Delphi Technologies PLC, Yageo Corporation, Vishay Intertechnology Inc., Bourns Inc., Taiyo Yuden Co. Ltd., Japan Aviation Electronics Industry Ltd., KEMET Electronics Corporation, HIROSE ELECTRIC CO., Sumida Corporation, TT Electronics PLC, Rubycon Corporation, Pulse Electronics Corporation, J.S.T. Mfg. Co., Chogori Technology Co. Ltd., Zeeteq Electronics Co. Ltd. .
Innovation In High-Frequency Passive Components For Satellite Communication
Major companies operating in the interconnect and passive components market are focused on developing innovative components, such as high-frequency passive components, to support reliable and high-performance satellite communication and sustain their position in the market. For instance, in August 2023, Smiths Interconnect Inc., a US-based electronic components manufacturer, launched its E-Band passive components with WR12 couplers, loads and isolators. These broadband WR12 waveguide components are designed for next-gen E-Band terrestrial uplinks to Low Earth Orbit (LEO) constellations and payloads. They are optimized to manage the high RF power required for robust communication links. The product series is ideal for reliable applications like prestigious space missions, with in-house design, manufacturing and testing. The WR12 waveguide hybrids are suitable for global use, featuring broad tuning, high-power termination and stable performance over the 71-76 and 81-86 GHz bands.
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Key Segments -
The interconnect and passive components market covered in this report is segmented -
1) By Product: Passive Components; Interconnects
2) By Application: Consumer Electronics; Data Processing; Telecommunication; Military And Aerospace; Automotive; Industrial; Healthcare
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
"
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