PUNE, India, March 28, 2017 /PRNewswire/ --
According to the new market research report, "Interconnects and passive components Market by Passive Components (Resistor, Capacitor, Inductor, Transformer, and Diode), Interconnect Type (PCB, Connector, Switch, Relay, Adapter, Terminal, Splice, and Socket), Application, and Region - Global Forecast to 2022", published by MarketsandMarkets, is estimated to be valued at USD 187.55 Billion by 2022, growing at a CAGR of 4.41% between 2017 and 2022.
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Browse 74 market data Tables and 73 Figures spread through 161 Pages and in-depth TOC on "Interconnects and Passive Components Market"
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This is primarily due to the need for these electronic components in the manufacturing of machines and devices used for data processing, telecommunication, consumer electronics, automobiles, military and defense, and healthcare applications. Moreover, the growth of the overall interconnects and passive components market is supplemented by continuous innovations and introduction of advanced and efficient technologies in the consumer electronics industry.
"Interconnects are expected to lead the interconnects and passive components market during the forecast period"
The interconnects segment is expected to grow at the highest rate between 2016 and 2022. This is primarily due to the different technological advancements across different industries. For instance, introduction of automation and robotics in the industrial sector, infotainment in the automobile sector, high speed bandwidth utilization in the data processing sector and compact electronic devices and consumer electronics sector is driving the demand of these interconnects, globally.
"Connectors are expected to grow at the highest rate in the interconnects and passive components market between 2017 and 2022"
Interconnects and passive components market for the connectors segment is expected to grow at the highest CAGR between 2017 and 2022. This is primarily due to a wide use of connectors across different applications such as automation, robotics, data transfer, and infotainment. Moreover, the demand for optical interconnects and fiber optic connectors in telecommunication and data processing applications boost the demand for the connector segment.
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"Asia-Pacific is estimated to hold the largest share of the interconnects and passive components market by 2022"
Interconnects and passive components market in Asia-Pacific (APAC) is expected to have the largest share by 2022. This is due to the easy availability of raw material, cheap labor, and low production-cost in this region. Moreover, the high demand for consumer electronics products manufactured in the APAC region, especially China, helps in the consistent growth of interconnects and passive components market. With rising income and improved standard of living, the demand for computers; electronic appliances such as mobile phones, LCDs, and LED displays; and multifunctional chips have grown rapidly in the country. Furthermore, the inexpensive consumer electronic products manufactured in China have attracted increasing demand from abroad. The Government of China has been continuously encouraging cities to establish industrial parks for electronic component production and are providing aid to research and development (R&D) activities.
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The major players in the interconnects and passive components market are TE Connectivity Ltd. (Switzerland), Amphenol Corporation (U.S.), Molex Incorporated (U.S.), Hirose Electric Co., Ltd. (Japan), and Delphi Automotive LLP (U.K.).
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