Interconnects and Passive Components Market Insights and Emerging Trends by 2032

Interconnects and Passive Components Market Outlook (2022 to 2032)

The global market for interconnects and passive components has experienced significant growth over the past few years and is expected to continue expanding at a healthy rate in the coming decade. In this article, we will delve into the key trends and factors driving the growth of this market, the role of interconnects and passive components in various industries, and the regions and product types that are expected to offer the most opportunities for manufacturers.

The interconnects and passive components market has been on a steady growth trajectory, with the global market size increasing from US$ 180 billion in 2021 to US$ 187.6 billion by 2022. Looking ahead, the market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 6.1% from 2022 to 2032. By the end of 2032, the total market value is expected to exceed US$ 343 billion, indicating a promising outlook for manufacturers in this sector.

Key Trends Shaping the Market

Several key trends are driving the growth of the interconnects and passive components market:

1. Diverse Applications: Interconnects and passive components find applications in a wide range of industries, including automotive, consumer electronics, industrial machinery, medical devices, and solar energy. The increasing use of these components across multiple sectors is a significant driver of market growth.
2. 3C Applications: The demand for interconnects and passive components is particularly high in the 3C sectors - computing, communication, and consumer electronics. As these industries continue to evolve and innovate, the market for these components is expected to thrive.
3. Industrial Automation: The adoption of industrial automation and advancements in industrial Machine-to-Machine (M2M) communication technology are creating new opportunities for manufacturers in this space. The automation trend is expected to drive the demand for reliable interconnects and passive components.
4. Digitalization and Industry 4.0: The rapid penetration of digitalization and Industry 4.0 initiatives is fueling growth in the market. These technologies rely heavily on interconnects and passive components to ensure efficient and reliable data transfer and processing.
5. Electric and Autonomous Vehicles: The growing popularity of electric and autonomous vehicles is positively impacting the interconnects and passive component sales. These vehicles require durable, high-performance components for various systems, including engine management, safety, and infotainment.
6. Industrial Robotics: Increasing adoption of robots in industrial settings is expected to bolster interconnect and passive component sales. These components play a crucial role in reducing lag times and enhancing efficiency in robotic operations.

In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at-https://www.persistencemarketresearch.com/market-research/interconnects-and-passive-components-market.asp

Understanding Interconnects and Passive Components

Interconnects and passive components are essential elements in electronic devices and systems. They serve different functions:

• Interconnects: These components, including printed circuit boards, switches, and relays, are used to electrically connect two or more circuit elements. They play a critical role in transmitting signals and power between different components of a circuit.
• Passive Components: Passive components, on the other hand, manipulate signals and only influence the flow of power. They do not require an external power source for their functioning. Examples of passive components include resistors, transformers, capacitors, and inductors, which are commonly used in industrial settings.

Key Drivers of Market Growth

Several factors are driving the increasing demand for interconnects and passive components:

1. Consumer Electronics: The global demand for consumer electronic devices, such as smartphones, has surged due to rapid digitalization. This trend has created a substantial demand for interconnects and passive components, a trend expected to continue in the coming years.
2. Medical Devices and Industrial Machinery: The production and sales of medical devices, industrial machinery, solar panels, and other electronic products have been on the rise. Interconnects and passive components have become essential components in these products, driving demand further.
3. Electric and Hybrid Vehicles: The shift towards electric and hybrid vehicles, driven by environmental concerns and rising fuel costs, is creating a high demand for interconnects and passive components. These components are critical for the performance and reliability of various automotive systems, including engine management and safety systems.
4. Automotive Industry Growth: The automotive industry is experiencing robust growth, with the total number of automobiles sold worldwide increasing steadily. This growth directly translates into increased demand for interconnects and passive components.
5. Advanced Technology: Leading companies in the market are continuously innovating and launching new products with enhanced features, such as higher capacitance and smaller size. These innovations cater to the evolving needs of various industries, further driving market growth.

Regional Insights

Regionally, Asia Pacific is expected to remain at the forefront of the interconnects and passive components industry. In 2022, the Asia Pacific market reached a size of US$ 95.2 billion, and it is projected to surge significantly over the next decade. By 2032, the Asia Pacific market is expected to reach a staggering US$ 174.2 billion. The regions growth is driven by increased production and sales of consumer electronics, a thriving automotive sector, and the expanding 5G infrastructure.

The United States market is also poised for substantial growth, with a projected valuation of US$ 50.1 billion by 2032. The rising demand for interconnects and passive components in booming sectors such as consumer electronics, medical devices, and defense is expected to drive growth in the United States.

China, with its dominant smartphone market and the increasing popularity of electric vehicles, is set to witness impressive growth in the interconnects and passive components market. A CAGR of 7.7% is expected through 2032, with overall market revenue likely to exceed US$ 90.6 billion by that year.

Product Type Insights

Among the product types, passive components are expected to offer the most growth opportunities for manufacturers. The passive components segment is projected to grow at a CAGR of 6.0% from 2022 to 2032, compared to a historical CAGR of 4.0% from 2017 to 2021. Passive components, including transformers, inductors, capacitors, resistors, and filters, are fundamental building elements of electrical circuits and are widely used in modern electronic devices. Their demand is expected to rise with the production and sales of various electronic devices, further fueling market growth.

Applications in the Automotive Sector

Interconnects and passive components play a pivotal role in the automotive industry, with a projected CAGR of 5.8% from 2022 to 2032. They enable the transmission and manipulation of signals between electronic components in vehicles, contributing to performance, safety, and reliability. These components are used in engine management, infotainment systems, and safety features. The increasing popularity of electric and autonomous vehicles is expected to drive further demand for advanced interconnects and passive components in this sector.

Competitive Landscape

Leading manufacturers in the interconnects and passive components market include TE Connectivity Limited, Amphenol Corporation, Molex Incorporated, Hirose Electric Co., Ltd., Delphi Automotive LLP, Koch Industries, Japan Aviation Electronics Industry, AVX Corporation, Cisco, and Panasonic Corporation. These companies are actively expanding their product portfolios, investing in research and development, and exploring partnerships, acquisitions, and agreements to meet evolving end-user demands and boost their revenues.

About Persistence Market Research:

Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on "micros" by Persistence Market Research helps companies overcome their "macro" business challenges.

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

Contact

Persistence Market Research

Teerth Technospace, Unit B-704

Survey Number - 103, Baner

Mumbai Bangalore Highway

Pune 411045 India

Email: sales@persistencemarketresearch.com

Web: https://www.persistencemarketresearch.com

This press release first seen onBrilad

COMTEX_447099350/2840/2024-01-31T07:08:24