Home » Electronics & Semiconductors, Manufacturing & Industry, Marketing & Sales, Services, World » Electronic Components Market is Expected Witness Significant Growth by 2024 |Industry Analysis by Hexa Research
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Medical electronics is also a fast growing end-use sector. Industrial robotics and plant automation tends to spur the “Electronic Components Market” growth over the forecast period. Growing demand for electronic devices in Asia-Pacific is tto spur the Electronic Components Market growth over the forecast period.

Electronic circuitry is formed of various electronic components; with growing automation, they have become essential for industries including consumer electronics, telecommunications, and computers among others. Electronic components consist of active, passive and interconnecting components. Active electronic components require source of energy to operate. Passive electronic components, unlike their active counterparts, do not depend upon a source of energy in order to perform their required function. Printed circuit boards (PCB) are referred to as interconnecting components, since they help connect various components into an integrated assembly, so as to control the target system. Systems have become increasingly complex and offer high functionality. Furthermore, with the adoption of consolidated modules such as system-on-a-chip and multichip, the need for effective electronic components is expected to increase.  

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Passive electronic components include capacitors, resistors, inductors, and transformers, while active components comprises of transistors, integrated circuits or IC’s and logic gates, and interconnecting components primarily encompass connectors and switches in addition to PCBs. Growing demand for consumer electronic such as portable music players, digital cameras and gaming consoles in addition to desktop PCs and laptops has been contributing to growth in the electronics industry. Enhancement and development in software is also giving rise to the need for compatible hardware. Electronic components are used in the automotive sector as well, which can be attributed to technological advancement and incorporation of communication, infotainment and navigation features such as global positioning systems (GPS). Medical electronics is also a fast growing end-use sector. Industrial robotics and plant automation tends to spur the Electronic Components Market growth over the forecast period. Portable electronics have been witnessing high adoption across the globe, spurred by remote communication facilities. Since these products are also used in integrated circuits, demand is expected to remain strong over the forecast period. 

As a result of growth in end-use industries in Asia Pacific, the Electronic Components Market in this region is expected to remain the largest and fastest growing over the next few years. Transition towards communication standards such as 3G and 4G LTE is expected to be favorable for industry growth. Increasing penetration of electronics in healthcare sector provides for opportunities in this market.

However, fluctuations in raw material prices and its availability pose a challenge to this market. Also, regulatory issues and declining margins pose a threat to market growth.

The Electronic Components market can be segmented on the basis of electronic components type and end-user applications of the industry. The electronic components consist of active, passive and interconnected components. With industrial expansion in emerging markets, these components are to witness significant growth over the forecast period. Electronic components are being used in automobile industry, marine industry, defense and aerospace, robotics and plant automation, healthcare sectors and gaming industry.

Growing demand for electronic devices in Asia-Pacific is tto spur the Electronic Components Market growth over the forecast period. Furthermore, growth in Internet bandwidth and burgeoning adoption of Internet services in India, China and other nations is expected to result in corresponding demand for electronic devices and components.

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Key players in the Electronic Components Market are Actel Corporation, FCI Electronics, Hitachi AIC Inc., Datronix Holdings Ltd., ST Microelectronics, Xilinx, Inc., Fairchild Semiconductor, Hammond Mfg. Co. Ltd., Agilent Technologies Inc., Token Electronics Industry Co, Ltd., Eaton Corp., Nippon Chemi-Con, Intel Corporation, Murata Manufacturing Company, Delta Electronics Inc., JST Mfg. Co. Ltd., Molex, Gilard Electronics Pvt. Ltd., Acme Electric, Kyocera Corporation, Omron Corporation, Nippon Mektron Ltd., Taiyo Yuden Co., Shenzhen Sunlord Electronics Co. Ltd., Kyocera Corporation, 3M Electronics and Panasonic Corporation.

In June 2016, Omron Electronics announced new D7S Vibration Sensor at Sensors Expo & Conference to expand its traditional product oriented scope.

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