Electronic Component Market is valued at USD 353.54 Billion in 2018 and expected to reach USD 568.63 Billion by 2025 with the CAGR of 8.56% over the forecast period.
This Electronic Component Market report also covers the impact of COVID-19 on the global market. The pandemic caused by Coronavirus (COVID-19) has affected every aspect of life globally, including the business sector. This has brought along several changes in Electronic Component market conditions.
Increase in global demand for smartphones and other portable devices along with rise in adoption of the Internet of Things (IoT) are the major factors stimulating the growth of the global Electronic Component market.
Electrical components that are packaged in a discrete form with two or more wire leads or metal studs are called electronic components. The electrical components are connected to the printed circuit board by soldering, thus creating an electronic circuit board having functions such as an amplifier, a radio receiver or an oscillator. Electronic components are industrial products used to influence electronics in electronic systems. These electronic components are divided into different types of active components, passive components and electromechanical components. Active components are components that generate energy in the form of current or voltage, while passive components are components that store energy in the form of current or voltage. Active electronic components include semiconductor devices, display devices and the like. Various semiconductor devices including diodes, transistors, integrated circuits and optoelectronic components The continuing trend of automation in the automotive industry has increased the demand for various electronic devices, such as driver assistance systems, DC / AC converters, controllers and power integration devices, telematics and global positioning systems (GPS).
Global Electronic Component market is segmented on the basis of product type, end user and region. On the basis of product type, the market is segmented into vacuum tubes, display devices, semiconductor devices and others. Based on end user, the market is segmented into aerospace & defense, consumer electronics, manufacturing, networking & telecommunication, automotive, healthcare and others.
The regions covered in this electronic component market report are North America, Europe, Asia-Pacific and Rest of the World. Based on the country level, market of Electronic Component market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players of the Electronic Component market are,
Fairchild Semiconductor International, Inc.
Everlight Electronics Co., Ltd.
Infineon Technologies AG
Texas Instruments, Inc.
Maxim Integrated Products Inc.
ST Microelectronics NV Inc.
NXP Semiconductors NV
Vishay Intertechnology, Inc.
Diotec Semiconductor AG
Renesas Electric Corporation
Global Electronic Component Market Dynamics-
The significant factor that is going to boost the growth of the Electronic Component market are the global demand for smartphones and other portable devices in the ICT market, and the rapid growth of smart cars, industrial machinery and infrastructure. Additionally, the Internet of Things (IoT) is expected to add tens of billions of new nodes or units to the Internet. The new department will include sensors, data storage devices, computers and related infrastructure. The Internet of Things will allow them to interact with each other and integrate into software systems and networks. As per statistics during the forecast period of 2017 to 2022, global spending on IoT will maintain a double-digit annual growth rate and exceed the $ 1 trillion mark in 2022 compared to $745 billion in 2019. However, managing the cost of raw materials remains an absolute priority for manufacturers, and they are still wondering how to deal with these price fluctuations, which is going to restrain the growth in global electronic component market. Opportunities exist due to Use of networked technology for remote patient monitoring and demand for advanced medical equipment is which is expected to drive growth during the forecast period.
North America has been the market leader so far and is expected to remain dominant in future in the global Electronic Component market owing to the huge demand for security systems and business intelligence that has driven the growth of the market for electronic components in this region. Additionally, the growing popularity of renewable energy and micro-electromechanical systems (MEMS) has spurred growth in the region. At the same time, the growing popularity of portable electronic devices will continue to be the main driver of the active electronic components market in North America. According to a survey in 2017, 88% of American respondents indicated that they use PCs / laptops in a professional or personal way. As per center for climate and energy solutions, solar energy production (including distributed generation) is projected to grow from 11% of total US renewable energy production in 2017 to 48% in 2050, making it the source of energy for growth the fastest, which will increase the demand for electronic components. Growing economies in the Asia-Pacific region, such as India and China, have increased spending on Defense for state-of-the-art warfare systems as well as high-tech missiles which requires electronic components, thereby creating opportunities for market growth in APAC region as well.
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
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By product type: Vacuum Tubes, Display Devices, Semiconductor Devices, Others
By end user: Aerospace & Defense, Consumer Electronics, Manufacturing, Networking & Telecommunication, Automotive, Healthcare, Others
Regional & Country Analysis
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA
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