General Electronic Components Market Research 2024 - Outlook, Overview And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global General Electronic Components Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The general electronic components market size has grown strongly in recent years. It will grow from $514.79 billion in 2023 to $550.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in disposable income, increased internet penetration, low interest rate environment, high investments.

The general electronic components market size is expected to see strong growth in the next few years. It will grow to $708.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising demand for electronic components in display devices, rise in demand for internet of things (iot), provide financially lucrative opportunities. Major trends in the forecast period include 3d printed electronic components, rise in merger and acquisition activity, artificial intelligence and machine learning in electronic components manufacturing, modular connector systems for transportation applications, rising collaborations and partnerships.

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Market Drivers and Trends:

Increasing demand for microwave tubes, cathode-ray tubes, X-ray tubes, photoelectric tubes and triodes in display devices is expected to drive the general electronic components market in the forecast period. Display devices are the output devices that offer information in visual form. Most devices are going smart nowadays, thus increasing the growth of display devices. The display devices are creating many opportunities for the growth of the electronic component market in various applications such as satellite and space technology, automotive, military applications, IoT, and others. Asia-Pacific was the major market in general electronic components with China leading the Asia-Pacific market due to the presence of the largest chip designers, chipmakers, and other critical components that are used in laptops, smartphones, and the internet of things (IoT) applications.

The adaptation of the Internet of Things (IoT) acts as a key trend driving the growth of the general electronic components market. In the past few years, the IoT has experienced a massive boom. IoT provides communication and connection between various devices, such as fitness watches, smartphones, and smart meters. General electronic components such as resistors, transistors, capacitors, and diodes are used in making smart devices, sensors, and actuators that can interconnect with each other. According to IoT Analytics, the number of global IoT connections grew by 18% in 2022 to 14.3 billion active IoT endpoints. More than 30 billion IoT connections, or approximately 4 IoT devices per person on average, are projected to exist by 2025. Thus, indicating a high demand for IoT devices.

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Major Key Players of the Market:

China Welfare Lottery, Flutter Entertainment plc, Caesars Entertainment Corporation, MGM Resorts International, The Hong Kong Jockey Club, Bet365 Group Ltd, Las Vegas Sands Corporation, Wynn Resorts Ltd., Galaxy Entertainment Group Limited, Melco International Development Ltd., Marina Bay Sands , Inspire Integrated Resort, Aquis Great Barrier Reef , Sky City Auckland Deltin Daman , SJM Grand Lisboa, City Of Dreams, Venetian Macao, Kangwon Land Holland America Cruise Line Volendam, Resorts World Sentosa, Spielbank Do-Hohensyburg, Gran Madrid Torrelodones, de la Vallee - St. Vincent, Zeal Network SE, Betway, Novibet, Merkur ,Merlin Entertainments, Selena World Resort & Admiral Colosseum, Luxury Goldfishka, BetChan NetBet , Joy Marriott Hotel &Warsaw, NBC Universal, SPIN DraftKings Inc, BetAmerica, LeoVegas AB, Evolution Gaming AB, Scientific Games Corporation, Buffalo Partners, the Stars Group Inc, Hipódromo Argentino de Palermo, Sun Monticello and Hotel, Golden Palace, de Tigre, buenos Aires, Trilenium , Rock'n Jazz, Celebrity Cruises - Constellation, du Liban, , Jumeirah, Farah Experiences LLC, Parimatch, NetBet, Unibet, 22bet, GrandWest & Entertainment World, Sun International, Peermont, Federal Palace Hotel &, Kairo International, Le Grande Maritim Jolie Ville Resort & Sharm El Sheikh.

General Electronic Components Market 2024 Key Insights:

• The general electronic components market size is expected to see strong growth in the next few years. It will grow to $708.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Display Device Demand Boosts General Electronic Components Market
• IOT Revolution Drives General Electronic Components Market Growth
• Asia-Pacific was the largest region in the general electronic components market in 2023

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