Electrical And Electronics Components market: Market Indicators Showing Positive Outlook

The new report published by The Business Research Company, titled "Electrical And Electronics Components Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the electrical and electronics components market size has grown rapidly in recent years. It will grow from $60.34 billion in 2023 to $67.54 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The electrical and electronics components market size is expected to see rapid growth in the next few years. It will grow to $104.99 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.

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Rising Adoption Of Smartphones To Drive Market Growth
The rising penetration of smartphones is expected to propel the growth of the electrical and electronics components market going forward. Smartphones are portable handheld devices used for various functions. In recent times, consumers have had access to a wide range of gadgets for entertainment and shopping, including laptops, and smartphones which increased the demand for smartphones, which in turn increased the demand for electronic components used in smartphones. For instance, in 2022, according to the recent data published by Obrelo, a Lithuania-based e-commerce website, 96.1% of consumers would own a mobile phone. Tablets are the third most common electronic gadget, with 34% of people globally owning at least one, followed by laptops and desktop computers owned by 59% of global consumers. Hence, the rising penetration of smartphones drives the electrical and electronics components market.

Technological Advancements Driving Innovation In Electrical And Electronic Components Market
Technological advancement is a key trend gaining popularity in the electrical and electronic components market. Major companies operating in the electrical and electronics components market are focused on developing new technological solutions to strengthen their position in the market. For instance, in March 2022, Odyssey Semiconductor Technologies, Inc., a New York-based semiconductor manufacturing company, developed advanced vertical GaN power field-effect transistors (FETs). These transistors combine SiC's higher voltage rating with GaN's excellent conversion efficiency would result in ground-breaking performance for the most demanding applications by providing industry-leading efficiency that has been validated with its approach at a 700 V rating that exhibits very low gate leakage and can be operated in a mode where they are normally off.

The electrical and electronics components market covered in this report is segmented -

1) By Type: Passive, Active, Electro Mechanics
2) By End User: Consumer Electronics, Networking And Telecommunication, Automotive, Manufacturing, Aerospace And Defense, Healthcare, Other End users

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Major companies operating in the electrical and electronics components market report are Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments Inc., Toshiba Corporation, Panasonic Corporation, Advanced Micro Devices Inc., Intel Corporation, Maxim Integrated Products Inc., Broadcom Inc., Qualcomm Inc., Analog Devices Inc., Microchip Technology Inc., Monolithic Power Systems Inc., Renesas Electronics Corporation, STMicroelectronics NV, Cypress Semiconductor Corporation, Honeywell International Inc., Tokyo Denki Kagaku Kōgyō K.K. Corporation, Vishay Intertechnology Inc., TE Connectivity Ltd., Smiths Interconnect Inc., Yamaichi Electronics Co Ltd., Enplas Corporation, Leeno industrial Inc., Rockwell Automation Inc., Idem Safety Switches Ltd., Asea Brown Boveri Ltd., EUCHNER GmbH + Co KG, Eaton Corporation plc, Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Woodward Inc., American Connectors Inc., Amphenol Industrial Products Group, Thomas & Betts Corporation, Mitsubishi Electric Corporation, Siemens AG .

Contents of the report:
1. Executive Summary
2. Electrical And Electronics Components Market Report Structure
3. Electrical And Electronics Components Market Trends And Strategies
4. Electrical And Electronics Components Market - Macro Economic Scenario
5. Electrical And Electronics Components Market Size And Growth
…..
27. Electrical And Electronics Components Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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