The Global Electronic Components Market was valued at USD 160.2 Bn in 2020 and is expected to reach USD 265.7 Bn by 2027, with a growing CAGR of 7.5% during the forecast period.
An electronic components is a physical entity in an electronic device that is used to affect the electronic field. Electronic components are categorized into two types i.e. active components and passive components. Active electronic components are used to produce energy in the form of voltage, whereas passive electronic components are used in storing energy in the form of current. Passive components cannot amplify or energize the energy of the signal associated with them, they can only attenuate it, while active components can energize or amplify the signal.
The increasing use of the internet of things and automotive technologies in electronic devices is expected to drive the overall growth of the electronic components market in recent years. In addition to this, an increase in the use of the internet of things in factories, homes, telecommunication, and domestic and industrial electronics are some of the factors that are driving the demand for electronic components. Further, the increasing demand for electronic components by Original Equipment Manufacturers (OEMs) to fit the smaller components to their circuit board assemblies is creating a significant opportunity for the electronic components market during the forecast period.
In addition, the increasing penetration of smartphones & other wearable devices and industrial automation is expected to propel the growth of the electronic components market during the forecast period. For instance, according to secondary sources, in 2021, the number of smartphones subscription across the globe surpasses 6.0 Bn and is expected to grow in the coming years. The countries like China, India, and the U.S. has the highest number of smartphones users.
By Type
By Application
By Region
Based on the type, the active segment in the electronic components market accounted for the largest market share in 2020 and is expected to remain constant during the forecast period owing to its properties such as capable of electrically controlling and amplifying the flow of electrical current
Based on the type, the electronic components market has been segmented into passive, active, electro mechanic. The active segment in the electronic components market accounted for the largest market share and is expected to remain constant during the forecast period. The growth in the segment is attributed to its properties such as capable of electrically controlling and amplifying the flow of electrical current. Moreover, the rapidly growing demand for consumer electronics devices, such as smartphones and laptops. However, the passive segment in the electronic components market is growing at a constant rate during the forecast period due to increasing digitalization coupled with increased connectivity and mobility demand.
Based on application, the automotive segment in the electronic components market accounted for the largest market share in 2020 and is expected to show its dominance during the forecast period owing to the increasing adoption of electric vehicles across the globe
Based on application, the global electronic components market has been segmented into automotive, communication, computing application, industrial, others. The automotive segment in electronic components market held the largest market share in 2020 and is expected to continue this pattern during the forecast period. The growth in this segment is attributed to the increasing on-roads traffics, increasing passenger vehicles and high adoption of electric vehicles across the globe. However, the electronics industry segment in electronic components market is anticipated to grow at a significant rate during the forecast period due to the high penetration of smartphones across the globe.
Based on region, Asia Pacific is expected to dominate the electronic components market during the forecast period owing to the penetration of smartphones and increasing adoption of electric vehicles
Based on region, the global electronic components market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to dominate the electronic components market during the forecast period. The growth in the region is attributed to the increasing penetration of smartphones as well as the increasing adoption of electric vehicles. For instance, according to the report published by Global System for Mobile Communication (GSMA), in 2020, it is estimated around 2.8 Bn unique mobile subscribers in 2019 and is forecasted to be 3.0 Bn users by 2025 with a CAGR of 1.5%. Moreover, the increasing adoption of IoT in various industries is anticipated to flourish the electronic components market growth in the region. For instance, according to the same source as above, around 5.2 Bn connection of IoT in 2019 and is expected to reach 11.5 Bn by 2025. Thus, proliferating the growth of the electronic components market in the region.
The report also provides an in-depth analysis of electronic components market dynamics such as drivers, restraints, opportunities, and challenges:
Drivers
Restraints
Opportunities
Challenges
COVID-19 Impact on the Electronic Components Market Analysis:
The COVID-19 pandemic has negatively impacted various industries such as automotive, oil & gas, retail, and others. This is attributed to the strict lockdown imposed by the government to limit the spread of the COVID-19 pandemic. The electronic components market is completely dependent on the end-use industries such as automotive, healthcare, and others. The spending patterns of end-use industries have come down drastically, resulted in decreased demand from consumer electronics due to the weak economic conditions. However, due to the reopening of economies, the sign of recovery are beginning to appear in the electronics industry owing to the increasing demand for smartphones and other electronic appliances. Thus, the electronic components market gaining traction in the coming years.
A detailed analysis specific to the electronic components market will be provided in the report.
The report also provides an in-depth analysis of key trends in the electronic components market:
The report also provides an in-depth analysis of recent news developments and investments:
The unique insights provided by this report also include the following:
Ask for free product review call with the author
Share your specific research requirements for a customized report
Request for due diligence and consumer centric studies
Request for study updates, segment specific and country level reports
Market Introduction
Research Methodology
Executive Summary
Premium Insights
Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
Market Dynamics
COVID – 19 Opportunity Mapping
Regional Market Analysis
Company Profiles
Log in / Register
