Market Analysis
The interconnects and passive components market is predicted to touch USD 211 billion at a 6% CAGR between 2016- 2022, states the Market Research Future (MRFR) analysis. Interconnects are electrical components that connect together two or above electrical elements, while passive components are electrical components that consume power in electrical circuitries that comprise transformers, capacitors, inductors, and resistors.
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Various factors are propelling the global interconnects and passive components market share. According to the recent MRRF report, such factors include constant innovations, the launch of efficient and advanced technologies in the consumer electronics sector, and growing need to manufacture devices and machines used for healthcare applications, military and defense, automobiles, consumer electronics, telecommunication, and data processing. Additional factors adding to the passive and interconnecting electronic components market growth include advances in industrial M2M communication technology, rising industrial automation, growing demand for high-performance and miniaturized electronic devices, increasing demand in computing, communication, & consumer electronics applications, and proliferation of consumer electronics & automotive infotainment.
On the contrary, overall fall in the commodity costs, manufacturers’ declining profit margins, and the ongoing COVID-19 impact are factors which may impede the global interconnects and passive components market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global interconnects and passive components market based on components, passive components, interconnects, and application.
By components, the global interconnects and passive components market is segmented into interconnects and passive components. Of these, the interconnect components segment will lead the market over the forecast period.
By passive components, the global interconnects and passive components market is segmented into diodes, transformers, capacitors, inductors, and resistors. Of these, the capacitors segment will dominate the market over the forecast period.
By interconnects, the global interconnects and passive components market is segmented into relays, switches, connectors, printed circuit boards, and others. The other segment is again segmented into adapters, splices, terminals, and sockets. Of these, connectors will have lions share in the market over the forecast period.
By application, the global interconnects and passive components market is segmented healthcare, industrial, automotive, military and aerospace, telecommunications, data processing, and consumer electronics. Of these, the automotive segment will spearhead the market over the forecast period.
Regional Analysis
Based on the region, the global interconnects and passive components market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period. The growing need for effective consumer electronic products, a vast customer base in India, Japan, and China, and the growing adoption of solar-based devices are adding to the global interconnects and passive components market growth in the region.
The interconnects and passive components market in North America is predicted to have admirable growth over the forecast period. Technological advances and developments in the electronics sector, the presence of leading providers, and advances in electronic infrastructure are adding to the global interconnects and passive components market growth in the region.
The interconnects and passive components market in Europe is predicted to have favorable growth over the forecast period. Growing awareness about hybrid and electric cars is adding to the global interconnects and passive components market growth in the region.
The interconnects & passive components market in the RoW is predicted to have steady growth over the forecast period.
Key Players
Leading players profiled in the global interconnects and passive components market report include Hon Hai Precision Industry Co., Ltd., (U.S.), Hirose Electric Co., Ltd. (Japan), Hubbell Incorporated (U.S.), Delphi Automotive PLC (U.K.), Amphenol Corporation (U.S.), Ametek, Inc. (U.S.), Panasonic Corporation (Japan), Molex, LLC (U.S.), AVX Corporation (U.S.), and Cisco Systems, Inc. (U.S.).
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