Passive And Interconnecting Electronic Components Market Size, Share & Trends Analysis Report By Component (Passive, Interconnecting), By Application (Consumer Electronics, IT & Telecommunication), By Region (North America, Europe), And Segment Forecasts,

Passive And Interconnecting Electronic Components Market Size, Share & Trends Analysis Report By Component (Passive, Interconnecting), By Application (Consumer Electronics, IT & Telecommunication), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030

Passive And Interconnecting Electronic Components Market Growth & Trends

The global passive and interconnecting electronic components market size is projected to reach USD 258.01 billion by 2030, growing at a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Electronic components play an essential role in several verticals, including IT and telecommunication, consumer electronics, automotive, aerospace and defense, and healthcare. They form an indispensable part of an electronic system and help it function automatically. Moreover, the rapidly surging demand for consumer electronic goods and household appliances such as smartphones, laptops, digital cameras, and air conditioners is expected to fuel market growth over the forthcoming years.

The rising need for enhanced data speed among consumers, businesses, and industries has enabled key telecom operators such as AT&T, Verizon, China Mobile Limited, and KT Corp. to install 5G network infrastructure in order to deliver seamless connectivity to their customers. With a significant surge in demand for telecom equipment and network devices to build 5G network infrastructure, it is anticipated to augment the adoption of passive and interconnecting electronic components during the forecast period.

The rapidly evolving technologies such as robotics and sensors-based systems for industrial applications to improve overall productivity and operational efficiencies are further estimated to augment the demand for passive and interconnecting components. Furthermore, wearables such as smartwatches, virtual reality (VR) headsets, and fitness bands are gaining popularity among consumers. Also, consumers are spending a massive amount on their health and entertainment. As a result, it has accelerated the demand for the aforementioned wearable devices among consumers.

Companies manufacturing passive and interconnecting electronic components are investing in Research and Development (R&D) to provide innovative products to their customers. For instance, in March 2023, Linx Technologies, now part of TE Connectivity, announced the launch of new surface-mount Radio Frequency (RF) switch connectors that offer high isolation between ports to enhance data accuracy. These connectors, available in SWD and SWF versions, are designed for diagnostic measurement on printed circuit boards and meet stringent industry standards, making them suitable for high-volume applications.

Passive And Interconnecting Electronic Components Market Report Highlights

• The passive segment is expected to register the fastest CAGR. This growth is attributed to the growing number of passive components required in new devices and vehicles owing to technological advancements. According to America II Group, LLC, a U.S.-based company, the number of inductors in a 5G smartphone is expected to grow to 50-70 from around 10 in a 4G smartphone. Similarly, the average number of Multilayer Ceramic Capacitors (MLCCs) in a 5G smartphone is expected to be over 5,000, from about 550 to 900 in a 4G smartphone.
• The consumer electronics segment dominated the market in 2023; the segment’s growth is driven by the growth in the demand for consumer electronics, such as smartphones and laptops, led by rising disposable income.
• In 2023, Asia Pacific led the market, driven by the presence of major manufacturers like Murata Manufacturing Co., Ltd., TDK Corporation, and YAGEO Group.
• In April 2024, KYOCERA AVX Components Corporation announced the launch of two new series of snap-in aluminum electrolytic capacitors, the SNL and SNA Series, designed for high reliability, high voltage, and long lifetime performance. These capacitors, which are lead-free, Restriction of Hazardous Substances (RoHS) compliant, and suitable for industrial and commercial applications, offer a range of rated voltages, case sizes, and capacitance values.

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