The Passive Electronic Components Market size is estimated at USD 45.53 billion in 2024, and is expected to reach USD 62.12 billion by 2029, growing at a CAGR of 6.41% during the forecast period (2024-2029).
Passive electronic components are the cornerstone of all electronics, in physical design and circuit models' language, representing electrical behavior in complicated systems. Integrated circuits include these components, and circuit boards contain discrete passive components. The increasing demand for electronic devices is anticipated to boost the passive electronic components market's growth.
The passive electronic components market is fragmented with the presence of major players like Delta Electronics Inc., Panasonic Corporation, TDK Corporation, Vishay Intertechnology Inc., and Murata Manufacturing Co. Ltd. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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