Market growing with demand for reliable circuit connectivity in automotive, consumer electronics, and industrial applications, driven by IoT and 5G expansion.

AUSTIN, TX, UNITED STATES, February 25, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Passive and Interconnecting Electronic Components market was valued at USD 187.65 billion in 2023 and is expected to grow to USD 297.42 billion by 2032, at a CAGR of 5.28% over the forecast period of 2024-2032.”

Increasing demand for high-performance electronic devices such as smartphones, IoT devices, and automotive electronics has led the Passive and Interconnecting Electronic Components market to grow. The ramp-up in electric vehicles, renewable energy systems, and industrial automation are boosting the requirement for capacitors, resistors, and connectors.

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SWOT Analysis of Key Players as follows:
- Kyocera AVX Corporation
- Vishay Intertechnology Inc.
- Murata Manufacturing Co.
- TDK Corporation
- Taiyo Yuden Ltd
- TE Connectivity
- Samsung Electro-mechanics
- Hosiden Corporation
- Yageo Group
- Nichicon Corporation
- Fenghua Electronics Ltd.
- ROHM Co. Ltd.
- Molex
- Samtec
- Amphenol Corp
- Panasonic Corporation
- Fujitsu
- Hon Hai Precision
- Hirose Electric Co. Ltd
- Mouser Electronics

Key Market Segmentation:

By Components: In 2023, interconnecting electronic components dominated the market share, as they are the essential part of several electronic components that are used in personal devices such as smartphones, systems used in the automotive industry, and industrial automation equipment among others, to ensure the communication of data. In addition, increased installation of 5G networks and ongoing IoT technology development has resulted in higher demand for connectors, cables, and sockets.

The passive electronic components segment is projected to notice the highest CAGR during 2024-2032 due to its high adoption of electric vehicles (EVs), renewable energy systems, consumer electronics, and so on. The growth of resistors, capacitors, and inductors is mainly driven by the rising demand for energy-efficient solutions and miniaturized components.

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By Application: The consumer electronics segment is expected to account for the largest market share over the forecast period in the passive and interconnecting electronic components market due to the high demand for smartphones, laptops, tablets, and wearable devices in 2023. The electronic component types like capacitors, resistors, and connectors are increasing because of the fast-changing technology, rising income, and willingness towards smart homes. Furthermore, within this segment, the growth of the market was notably influenced by increasing 5G networks and IoT-enabled devices.

The automotive segment is projected to register the fastest CAGR from 2024 to 2032. The increased adoption of electric vehicles (EV), advanced driver assistance systems (ADAS), and the growing trend of infotainment systems that need passive and interconnecting components for power management, interface connectivity, and safety functions are supporting this growth. Automotive electronic components also require such high performance and highly reliable characteristics, and the shifting trend of autonomous driving along with the increase of electronic content per vehicle has been spurring new growth in the automotive electronic components demand.

Asia Pacific Leads Passive and Interconnecting Components Market as North America Gears for Rapid Growth

The Passive and Interconnecting Electronic Components market share from Asia Pacific accounted for the largest share in 2023 led by presence of leading electronics manufacturing hubs such as China, Japan, South Korea, and Taiwan. With its robust supply chain, cheap and skilled labor and high-level development of manufacturing, the region took the lead in this market. Meanwhile, due to strong end-device demand such as smartphones, laptops, and other consumer electronics, in addition to aggressive 5G deployment and rapid 5G end-device development, demand for passive and interconnecting components increased. Increasing automotive industry, especially increasing EV manufacturing in China and Japan, also aided to drive the market.

North America is projected to witness the highest CAGR From 2024 To 2032. This increase is largely attributed to growing investments in next-generation solutions like battery electric vehicles, autonomous driving, and industrial automation. This demand is also driven by the region's emphasis on innovation, with R&D initiatives along with top tech firm presence. Furthermore, this is occurring due to rising penetration of 5G networks, increasing number of IoT applications, and growing consumer inclination towards smart home devices, which in turn is expected to drive demand for passive and interconnecting components. Additionally, increased focus on domestic semiconductor manufacturing and supply chain resilience by the U.S. government also bolsters further market growth within North America.

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TABLE OF CONTENT - Key Points

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Passive and Interconnecting Electronic Components Market Segmentation, by Components

Chapter 8. Passive and Interconnecting Electronic Components Market Segmentation, by Application

Chapter 9. Regional Analysis

Chapter 10. Company Profiles

Chapter 11. Use Cases and Best Practices

Chapter 12. Conclusion

Continued…

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Jagney Dave
SNS Insider Pvt. Ltd
+1 315 636 4242
info@snsinsider.com
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