Press release
Strong Growth Ahead: Interconnect And Passive Components Market Size To Grow At Arecord 6.2% Cagr By 2029
Interconnect And Passive Components
How Big Is the Interconnect And Passive Components Market Size Expected to Be by 2034?
The market size of interconnect and passive components has seen a significant increase in the past few years. From a value of $202.24 billion in 2024, it is forecasted to rise to $216.26 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.9%. The historic growth in this market can be understood by the surge in consumer electronics, advancements in telecommunications, expansion of industrial automation, and the growth witnessed in automotive electronics.
The projected future of the interconnect and passive components market is forecasted to experience significant increase in the coming years, with the market size predicted to skyrocket to $275.57 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%. This projected growth in the estimated time period can be tied to multiple factors like the roll out of 5G networks, the electric vehicle (EV) boom, internet of things (IoT) proliferation, and the ongoing growth in the aerospace and defense sectors. The forecast period will witness trends such as miniaturization and technological progress, high-frequency and rf components, environmentally friendly components, as well as the development of customization and modular designs.
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What Are the Emerging Segments Within the Interconnect And Passive Components Market?
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
Subsegments:
1) By Passive Components: Resistors, Capacitors, Inductors, Filters, Crystals And Oscillators, Sensors
2) By Interconnects: Connectors, Cables And Wires, Circuit Board Connectors, Terminals, Adapters, Sockets And Plugs
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What Long-Term Drivers Are Shaping Interconnect And Passive Components Market Trends?
The growth of the interconnect and passive components market is predicted to be boosted by the increasing production of consumer electronics. These electronics, which are designed for personal use in areas such as entertainment, communication, and productivity, require interconnect and passive components to ensure seamless connectivity, miniaturization, and enhanced functionality. This fulfils the expectations for product complexity and integration that modern consumer electronics bring. For example, data from the Japan Electronics and Information Technology Industries Association revealed that Japan's electronic equipment production totalled $6,722 million (¥771,457 million) in May 2023. During the same period, consumer electronics production was reported to have reached $280 million (¥32,099 million), a significant increase from the $230.9 million (¥25,268 million) recorded in May 2022. As such, the growing production of consumer electronics is projected to positively influence the interconnect and passive components market. Furthermore, the substantial adoption of Internet of Things (IoT) devices is anticipated to fuel the expansion of the interconnect and passive components market. IoT, a network comprising physical objects integrated with sensors, software, and connectivity capabilities for data collection and exchange, plays a critical role in the interconnect and passive components industry. It not only creates demand for specialized components but also utilizes these components for effective functioning. As per information from the GSM Association, a UK-based non-profit industry organization, a considerable growth in global IoT connections is expected, from 15.1 billion in 2021 to 23.3 billion by 2025. This notable increase in the adoption of IoT devices is, therefore, likely to aid in the growth of the interconnect and passive components market.
Who Are the Top Competitors in Key Interconnect And Passive Components Market Segments?
Major companies operating 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.
What Are the Major Trends Shaping the Interconnect And Passive Components Market?
Significant firms within the realm of interconnect and passive components are prioritizing the creation of inventive components, like high-frequency passive components, to bolster dependable, high-caliber satellite communication and uphold their market standing. Smiths Interconnect Inc., a corporation based in the US that specializes in the production of electronic components, unveiled its E-Band passive components in August 2023. The components feature WR12 couplers, loads, and isolators. The broad-spectrum WR12 waveguide components were innovatively constructed for next-generation E-Band terrestrial uplinks to Low Earth Orbit (LEO) constellations and payloads. These products are refined to handle the high RF power that a robust communication link demands. The product line is perfectly suited for dependable applications such as esteemed space missions, with the company responsible for the design, manufacturing, and testing. Suitable for use worldwide, the WR12 waveguide hybrids perform stably over the 71-76 and 81-86 GHz bands and have a broad tuning range as well as high-power termination.
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Which Regions Are Becoming Hubs for Interconnect And Passive Components Market Innovation?
Asia-Pacific was the largest region in the interconnect and passive components market in 2024. The regions covered in interconnect and passive components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Interconnect And Passive Components Market?
2. What is the CAGR expected in the Interconnect And Passive Components Market?
3. What Are the Key Innovations Transforming the Interconnect And Passive Components Industry?
4. Which Region Is Leading the Interconnect And Passive Components Market?
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