Press release
Integrated Passive Device Market - Rising Demand for Compact Electronic Devices to Work Well for Future Growth
In the highly competitive vendor landscape of the global integrated passive devices market, companies are investing more on mergers and acquisitions with the aim of expanding their product portfolios and geographical presence, observes Transparency Market Research in a recent report. Focus on research and development activities with the aim of introducing innovative products has also substantially increased in the market.Download the Brochure @https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=24914
Of the key applications of integrated passive devices, the segment of LED lighting generated a revenue of US$150 mn in 2016 and is expected to expand at the highest CAGR of 11.21% during the forecast period. This growth can be attributed to the steady rise in usage of LEDs for residential, commercial, and municipal lighting purposes owing to their cost effective nature. Additionally, LED displays are finding massive demand for use in 4-K television and smartphones display, thus fueling the global demand for LEDs.
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The global market for integrated passive device (IPD) market is primarily driven by the rising demand for compact electronic devices employing IPD technology to bring about a reduction the size of the electronic circuitry, improvement in performance, and increase in battery life.
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Moreover, the market is also benefitting from the rising applications of IPD across industries such as automotive, healthcare, and aerospace and defense as focus on digitization of these industries rises at a promising pace.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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