2024 Interconnect And Passive Components Market Analysis: Market Size, Key Drivers, and Segment Insights
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What is the Expected Growth Rate of the Interconnect And Passive Components Market from 2024 to 2033?
The interconnect and passive components market has seen strong growth. It is expected to grow from $188.94 billion in 2023 to $202.24 billion in 2024 at a CAGR of 7.0%. Growth drivers include booming consumer electronics, telecommunications expansion, industrial automation, and the growing automotive electronics sector.
The interconnect and passive components market is forecast to reach $257.57 billion in 2028, with a CAGR of 6.2%. This growth is fueled by the rollout of 5G networks, the electric vehicle (EV) revolution, IoT expansion, and growing aerospace and defense sectors. Trends include miniaturization, high-frequency components, eco-friendly designs, and modular component developments.
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The growing production of consumer electronics is anticipated to propel the interconnect and passive components market. Consumer electronics are devices used daily for entertainment, communication, and productivity, with demand driving the need for interconnect and passive components to ensure functionality and seamless connectivity. The Japan Electronics and Information Technology Industries Association reported in May 2023 that Japan’s electronic equipment production totaled $6,722 million (¥771,457 million), with consumer electronics production reaching $280 million (¥32,099 million), up from $230.9 million (¥25,268 million) in May 2022. Consequently, increased consumer electronics production is driving the interconnect and passive components market.
1) By Product: Passive Components, Interconnects
2) By Application: Consumer Electronics, Data Processing, Telecommunication, Military And Aerospace, Automotive, Industrial, Healthcare
Companies in the interconnect and passive components market are developing high-frequency passive components to support reliable satellite communication. Smiths Interconnect Inc., a US-based electronic components manufacturer, introduced E-Band passive components in August 2023. These WR12 waveguide components are designed for next-gen E-Band uplinks to Low Earth Orbit (LEO) constellations, optimized for managing high RF power. They are ideal for prestigious space missions, offering broad tuning, high-power termination, and stable performance in the 71–76 and 81–86 GHz bands.
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The Interconnect And Passive Components Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the interconnect and passive components market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Interconnect And Passive Components Market Include
1. Interconnect And Passive Components Market Executive Summary
2. Interconnect And Passive Components Market Segments
3. Interconnect And Passive Components Market Size And Template Market Growth Rate
4. Key Interconnect And Passive Components Market Trends
5. Major Interconnect And Passive Components Market Drivers
……
25. Key Mergers And Acquisitions In The Interconnect And Passive Components Market
26. Top Interconnect And Passive Components Companies
27. Interconnect And Passive Components Market Opportunities And Strategies
28. Interconnect And Passive Components Market, Conclusions And Recommendations
29. Appendix
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