Rising Adoption Of Smartphones To Drive Market Growth: A Significant Driver Propelling The Electrical And Electronics Components Market In 2025

The Electrical And Electronics Components Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Electrical And Electronics Components Market Size During the Forecast Period?
There has been a swift expansion in the market size of electrical and electronics components in the past few years. The market is projected to increase from $66.45 billion in 2024 to $73.84 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 11.1%. The historic period witnessed growth due to factors such as the surge in consumer electronics, expansion in automotive electronics, industrial automation, a rise in data storage needs, and a higher demand for energy-efficient devices.

Significant expansion is anticipated in the electrical and electronics components market in the upcoming years, with its size predicted to escalate to $114.41 billion in 2029 at an 11.6% compound annual growth rate (CAGR). As we look toward the future, the surge can be accredited to factors such as the rise of electric vehicles and charging facilities, the advancement of edge computing, the emergence of flexible and printed electronics, increased cybersecurity requirements, efforts towards creating smart cities, and the development of sustainable and green electronics. Notable trends for the forecast period encompass the evolution of advanced semiconductor technologies, personalization in component design, integrating AI in component production, fortifying supply chain resilience and digitalization, along with the implementation of 5G technology.

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What Are the Major Segments in the Electrical And Electronics Components Market?
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

Subsegments:
1) By Passive: Resistors, Capacitors, Inductors, Filters, Transformers
2) By Active: Diodes, Transistors, Integrated Circuits (ICs), Operational Amplifiers, Voltage Regulators
3) By Electromechanics: Relays, Switches, Connectors, Circuit Breakers, Motors

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What Are The Driving Electrical And Electronics Components Market Evolution?
The expected growth in the electronics and electrical components market can largely be attributed to the rapidly increasing use of smartphones. These versatile pocket-sized devices are utilized for an array of functions. Lately, a large assortment of devices for leisure and shopping, such as laptops and smartphones, have become accessible to consumers. This effectively increased the demand for the electronic components employed in the manufacturing of smartphones. For example, in the year 2022, data released by Obrelo, an e-commerce platform based in Lithuania, revealed that mobile phones would be owned by approximately 96.1% of consumers. Tablets ranked as the third most prevalent electronic gadget, with 34% of people worldwide having a minimum of one, closely trailed by laptops and desktop computers, owned by 59% of consumers globally. Consequently, the continued rise in smartphone adoption significantly propels the electronics and electrical components market.

Which Firms Dominate The Electrical And Electronics Components Market Segments?
Major companies operating in the electrical and electronics components market include 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

What Trends Are Expected to Dominate the Electrical And Electronics Components Market in the Next 5 Years?
Progress in technology is becoming a prominent trend in the electrical and electronic components industry. Prominent companies in this sector are focusing on creating innovative technological solutions to bolster their market standing. For example, Odyssey Semiconductor Technologies, Inc., a semiconductor manufacturer based in New York, produced high-tech vertical GaN power field-effect transistors (FETs) in March 2022. These transistors, which fuse SiC's superior voltage rating with GaN's exceptional conversion efficiency, have the potential to provide breakthrough performances for even the most rigorous applications. Their industry-leading efficiency has been demonstrated at a 700 V rating, showcasing very low gate leakage, and can function where they are typically off.

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Which Is The Largest Region In The Electrical And Electronics Components Market?
North America was the largest region in the electrical and electronics components market in 2024. Asia-Pacific is expected to be the fastest-growing region in the electrical and electronic components market report during the forecast period. The regions covered in the electrical and electronics components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electrical And Electronics Components Market?
2. What is the CAGR expected in the Electrical And Electronics Components Market?
3. What Are the Key Innovations Transforming the Electrical And Electronics Components Industry?
4. Which Region Is Leading the Electrical And Electronics Components Market?

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