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General electronic components are basic electronic units that serve as building blocks and support the functioning of electronic circuits and systems. These include resistors, capacitors, inductors, transformers, diodes, transistors, integrated circuits etc. They are used to build various electronic devices and help control electric current and voltage in circuits.
The global General Electronic Components Market is estimated to be valued at US$ 498.34 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The global general electronic components market has seen a rise in demand for miniaturized and compact components over the past few years. With the demand for smaller form factor devices like wearables and smartphones, there is a need for electronic components that take up minimal space but deliver high performance. This has driven innovations in semiconductor manufacturing technologies allowing for production of smaller chips with higher transistor densities. Another key trend is the growing demand for energy efficient components to support features like long battery life in devices. Suppliers are focusing on developing green components that consume low power.
Segment Analysis
The general electronic components market is segmented by type, application, and region. By type, the market is bifurcated into passive components and active components. The passive components segment is dominating currently due to the high use of passive components like resistors, capacitors, and inductors in all electronic devices. It holds around 60% market share currently.
Key players operating in the General Electronic Components market are Panasonic Corporation, Samsung Electronics Co. Ltd., Intel Corporation, Texas Instruments Incorporated, Toshiba Corporation, Sony Corporation, STMicroelectronics N.V., NXP Semiconductors N.V., Infineon Technologies AG, Broadcom Inc., Analog Devices Inc., Murata Manufacturing Co. Ltd., Vishay Intertechnology Inc., ON Semiconductor Corporation, Renesas Electronics Corporation. The top players accounts for around 35-40% of the market share.
Key Takeaways
The global General Electronic Components Market is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing use of electronic devices across various industries.
The Asia Pacific region is expected to be the fastest growing as well as the dominating region due to the presence of electronics manufacturing hubs like China, Taiwan, South Korea and emergence of several start-ups in countries like India. It is projected to grow at a CAGR of around 8% during the forecast period.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
