The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s electrical and electronics components market report forecasts the electrical and electronics components market size to grow to $92.35 billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.

Learn More On The Electrical And Electronics Components Market Report 2023 – https://www.thebusinessresearchcompany.com/report/electrical-and-electronics-components-global-market-report

Electrical And Electronics Components Market Size Forecast
The global electrical and electronic components market size is expected to grow from $53.93 billion in 2022 to $60.48 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electrical and electronic components market size is expected to reach $92.35 billion in 2027 at a CAGR of 11.2%.

North America held the largest electrical and electronics components market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Electrical And Electronics Components Market Driver ­– Rising Penetration Of Smartphones
For instance, in 2022, according to the recent data published by Obrelo, a Lithuania-based e-commerce website, 96.1% of consumers would own a mobile phone. Tablets are the third most common electronic gadget, with 34% of people globally owning at least one, followed by laptops and desktop computers owned by 59% of global consumers. Hence, the rising penetration of smartphones drives the electrical and electronics components market.

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Key Electrical And Electronics Components Market Trend – Technological Advancement

Technological advancement is a key trend gaining popularity in the electrical and electronics components market. Major companies operating in the electrical and electronics components market are focused on developing new technological solutions to strengthen their position in the market.

Electrical And Electronics Components Market Segment
1) By Type: Passive, Active, Electro Mechanics
2) By End User: Consumer Electronics, Networking And Telecommunication, Automotive, Manufacturing, Aerospace And Defense, Healthcare, Other End users

Electrical And Electronics Components Market Major Players and Strategies
Major players in the electrical and electronics components market are Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments Inc., Toshiba Corp., Panasonic Corporation, Infineon Technologies, Advanced Micro Devices Inc., Intel Corp., Maxim Integrated, Broadcom Inc., Qualcomm Inc., Analog Devices Inc., Microchip Technology Inc., Monolithic Power Systems Inc., Renesas electric Corporation and API Technologies.

In January 2022, YAGEO GROUP, a Taiwan-based electronics company acquired Chilisin Electronics Corp. for an undisclosed amount. With this acquisition, Chilisin expands its portfolio of inductors, power transformers, RF components, and ethernet transformer products. inductors, power transformers, RF components, and ethernet transformer products is a Taiwan-based manufacturer of electrical and electronic components.

The Electrical And Electronics Components Global Market Report 2023 covers regional data on electrical and electronics components market size, electrical and electronics components market trends and drivers, opportunities, strategies, and electrical and electronics components market competitor analysis. The countries covered in the electrical and electronics components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Electrical and electronic components refer to any fundamental discrete device or physical object in an electronic system and a building blocks of an electronic circuit.

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