( PR4US.com | Press Release | 2017-04-04 21:04:26 )
According to the new market research report of 2017, The interconnects and passive components market is expected to grow at a CAGR of 4.41% from 2016 and reach USD 187.55 Billion by 2022.
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This report provides a detailed analysis of interconnects and passive components market based on product type, passive component type, interconnect type, application, and geography. It has been estimated that interconnects would hold the largest share of interconnects and passive components market during the forecast period and is expected to grow at the highest CAGR between 2017 and 2022.
This is primarily due to the need for these electronic components in the manufacturing of machines and devices used for data processing, telecommunication, consumer electronics, automobiles, military and defense, and healthcare applications. Moreover, the growth of the overall interconnects and passive components market is supplemented by continuous innovations and introduction of advanced and efficient technologies in the consumer electronics industry.
The "Interconnects" segment is expected to grow at the highest rate between 2016 and 2022. This is primarily due to the different technological advancements across different industries. For instance, introduction of automation and robotics in the industrial sector, infotainment in the automobile sector, high speed bandwidth utilization in the data processing sector and compact electronic devices and consumer electronics sector is driving the demand of these interconnects, globally.
Interconnects and passive components market for the "Connectors" segment is expected to grow at the highest CAGR between 2017 and 2022. This is primarily due to a wide use of connectors across different applications such as automation, robotics, data transfer, and infotainment. Moreover, the demand for optical interconnects and fiber optic connectors in telecommunication and data processing applications boost the demand for the connector segment.
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Interconnects and passive components market in Asia-Pacific (APAC) is expected to have the largest share by 2022. This is due to the easy availability of raw material, cheap labor, and low production-cost in this region. Moreover, the high demand for consumer electronics products manufactured in the APAC region, especially China, helps in the consistent growth of interconnects and passive components market.
The major players in the interconnects and passive components market are TE Connectivity Ltd. (Switzerland), Amphenol Corporation (U.S.), Molex Incorporated (U.S.), Hirose Electric Co., Ltd. (Japan), and Delphi Automotive LLP (U.K.).