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Interconnects and Passive Components Market: Forecast to 2027
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Global Interconnects and Passive Components Market - Overview
Interconnect is the electrical and mechanical connectivity between two or more terminals on electric devices through an optical cable. Interconnects are used to connect every passive electrical component including chassis, resistors, inductors, transformers, capacitors, and others which are used to construct an electricity board or circuit. Passive components are essential modules in an electronic circuit, the flow of current without an electronic circuit would be unstable as it includes a number of electrical leads and terminals. Passive components are energy sufficient and do not require external energy to operate.
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Manufacturing automation has witnessed an exponential rise in the recent years, owing to the innovation of affordable and flexible technologies. Automation leads to higher productivity at a lower cost which enables workplace safety and increasing level of productivity and focus from employees. Hence, high adoption of automation in the manufacturing processes is expected to be one of the factors fuelling the growth of the interconnects and passive components market during the forecast period. However, the overall drop in consumer appliances prices is foreseen to be a post-crisis scenario for the global economy and is expected to hamper the growth of the interconnects and passive components market over the assessment period.
Industry News
July 2018, AVX Corporation, a manufacturer and supplier of electronic components, commenced the commercialization of MIL-PRF-123 capacitor in its defence logistics department. The MIL-PRF-123 capacitor delivers high and constant capacitance which influences the frequency, voltage, and temperature in an operation. This enables the company to enhance its defence and aerospace customer experience by fulfilling their requirements.
March 2017, Panasonic Corporation, a manufacturer and developer of electronic solutions and technologies, launched A3MR a high-precision angle sensor for vehicular motors. It detects the rotation angle in the motor enabling accurate movement and control. This has led to the replacement of wide range of magnetic field resolvers as it is a compact and efficient component.
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Global Interconnects and Passive Components Market - Segmentation
Segmentation by components: passive components and interconnects.
Segmentation by passive components: resistors, inductors, capacitors, transformers, and diodes
Segmentation by Interconnects: printed circuit boards, connectors, switches, relays, and others (sockets, terminals, splices and adapters)
Segmentation by application: consumer electronics, data processing, telecommunications, military and aerospace, automotive, industrial, and healthcare
Segmentation by region: North America, Europe, Asia-Pacific, and the rest of the world
Global Interconnects and Passive Components Market - Regional Analysis
Geographically, the interconnects and passive components market is categorized into four regions namely North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the interconnects and passive components market, due to the increasing need for efficient consumer electronic products. China, Japan, and India are the major contributing region due to the vast customer base and increased inclination of these economies for adoption in of solar-based devices. Owing to the above-mentioned factors Asia-Pacific is expected to be the fastest growing region in the market. North America is expected to witness a positive growth in the market with a significant market share during the forecast period. The US and Canada are the leading countries in the region, due to technological developments and advancements in the field of electronics. Leading interconnects and passive component providers such as Cisco Systems Inc. AVX Corporation, Molex LLC, and Ametek, Inc. in the US are enhancing and developing the energy efficient consumer appliances in North America region. The advancement in the electronic infrastructure leads to increasing market share by the above mentioned companies. Also, Europe is expected to show positive growth rate during the forecast period attributed to rise in awareness of electric and hybrid vehicles.
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