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Thick Film Hybrid Integrated Circuits Market Size, Opportunities, Strategies And Forecast To 2033
Thick Film Hybrid Integrated Circuits Market Size
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According to The Business Research Company's, The thick film hybrid integrated circuits market size has grown strongly in recent years. It will grow from $3.45 billion in 2023 to $3.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growing electronics, rising demand for miniaturization, increasing adoption in the automotive industry, growth in the telecommunications sector, expanding medical device applications, government regulations and standards, and high initial investment costs.
The thick film hybrid integrated circuits market size is expected to see strong growth in the next few years. It will grow to $4.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to the growth of IoT devices, advancements in 5G technology, increasing demand for wearable devices, rising investments in smart infrastructure, the expansion of the renewable energy sector, increasing need for efficient power management, and the and the growing automotive electronics. Major trends in the forecast period include miniaturization and integration of electronics, rapid prototyping and customization, the emergence of advanced materials, and integration with emerging technologies.
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Market Drivers and Trends:
Increasing smartphone penetration is expected to propel the growth of the quick response (QR) codes payment market going forward. Smartphone penetration refers to the percentage of individuals within a specific population who own and use smartphones, indicating the level of smartphone adoption within that group or region. Rising smartphone penetration is driven by increased affordability, technological advancements, and growing demand for mobile connectivity and functionality. Smartphones utilize QR codes for payments by scanning the code displayed at the point of sale, linking to the user's payment app or digital wallet, and facilitating secure transactions. For instance, in April 2022, according to the Department of Telecommunications under the Ministry of Information and Communications, a Vietnam-based regulatory agency, Vietnam recorded 91.3 million smartphone subscribers in 2021. This figure increased by over 2 million at the end of March 2022, resulting in a total of 93.5 million subscribers, equivalent to 73.5% of the nation's adult population. Therefore, the increasing smartphone penetration is driving the growth of the quick response (QR) codes payment market.
Major companies operating in thick-film hybrid integrated circuits are focused on developing high-frequency and high-speed components, such as thick-film shunt resistors, to meet the increasing demand for high-performance electronic devices in various industries. Thick-film shunt resistors are essential components in electronic circuits, providing accurate, current sensing and voltage regulation in a compact and reliable package. For instance, in November 2021, ROHM Co. Ltd., a Japan-based electronic parts manufacturer, launched the LTR100L thick-film shunt resistors, tailored for industrial and consumer applications, notably battery protection and motor drive circuits, where precise current detection is paramount for enhancing reliability and operational efficiency. The LTR100L series achieves the industry's highest rated power of 4W in the 3264 size (3.2mm × 6.4mm) or 1225 size (0.12 inch × 0.25 inch) by revising resistor materials and applying terminal temperature derating. This makes them ideal for current detection in motor control and overcurrent protection circuits in industrial and consumer applications advancing toward higher power. The optimized element structure also delivers best-in-class TCR (temperature coefficient of resistance) characteristics among thick-film shunt resistors. This ensures high accuracy and reliability in current detection despite temperature variations.
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Major Key Players of the Market:
Panasonic Corporation , GE Aerospace, Infineon Technologies AG, ROHM CO. LTD, Vishay Intertechnology, KEMET Corporation, Fenghua Advanced Technology Holding CO.LTD, Semtech Corporation, TT Electronics, Anritsu Corporation, Beijing Sevenstar Electronics Co. Ltd., KYOCERA AVX, Ohmite Manufacturing Company, Electro Technik Industries Inc., Delphi Technologies, Zhejiang Huzhou Xinjingchang Electronics Co. Ltd., Corintech Ltd, VPT Inc., AUREL s.p.a., Custom Interconnect Limited, Japan Resistor Mfg. Co. Ltd., Micro Hybrid Electronic GmbH, Advance Circuit Technology Inc., Cermetek Microelectronics, Hybrionic Pte, Bergh Hybrid Circuits, Integrated Technology Lab, Midas Microelectronics, Weiking Electronics Manufacturing, Globec Limited
Thick Film Hybrid Integrated Circuits Market 2024 Key Insights:
• The thick film hybrid integrated circuits market size is expected to see strong growth in the next few years. It will grow to $4.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Demand for Consumer Electronics Boosts Thick-Film Hybrid Integrated Circuits Market
• Applications Of Thick-Film Shunt Resistors In Industry And Consumer Electronics
• North America was the largest region in the thick film hybrid integrated circuits market in 2023
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