Latest News- Passive Component Market: Capacitors is expected to lead the Product segment during 2025-2029

The Passive Component Market is being driven by Increase in need for passive components in space applications

The Passive Component Market is expected to grow at a CAGR of 7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 14761.7 million. The Internet of Things (IoT) is revolutionizing industries by enabling the integration of vast numbers of devices into industrial networks. This trend is driving significant growth in the demand for sensors, actuators, and other passive components that support IoT applications. With the increasing adoption of IoT, industries are witnessing unprecedented production volume increases. Big data analysis, facilitated by IoT, can automatically identify and resolve issues with high accuracy, leading to increased operational efficiency. The IoT's impact extends beyond production, enhancing procurement, research and development, and sales processes. Key sectors like automotive and electronics are harnessing IoT to optimize production lines, eliminate waste, reduce inconsistencies, and shorten delivery times. The demand for reliable passive components to support these transformative initiatives is escalating. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Capacitors
  • Resistors
  • Inductors
  • Diode
  • Transformers
• End-user
  • Consumer electronics
  • IT and telecom industry
  • Automotive industry
  • Industrial machinery
  • Others
• Component
  • Passive
  • Interconnecting
• Material
  • Ceramic
  • Metal
  • Polymer
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in need for passive components in space applications
• Rising adoption of passive components in automotive industry
• Growing demand for smartphones and tablets

However, the market also witnesses some limitations, which are as follows:

• Growing concerns on volatility in raw material prices
• Increasing number of counterfeit products
• Declining demand for desktop computers and TV sets

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Market Scope in Passive Component Market Research Report

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Research Analysis Overview

In the realm of electronics engineering, passive components play a vital role in electric circuits, working in harmony with power sources and active components. While active components like semiconductor devices amplify signals and provide power gain, passive components facilitate power delivery and absorption. These circuit elements, including ceramic capacitors, resistors, inductors, and transformers, experience current flow and are influenced by electric and magnetic fields. They are essential for power regulation in communication equipment, IoT devices, miniaturized components, automotive electronics, telecom networks, consumer electronics, and high-performance devices. Power sources, such as voltage and current sources, energy sources, and heat dissipation systems, all interact with passive components to ensure efficient power transfer and effective operation.

Market Research Overview

The passive component market is a significant segment of the larger global semiconductor industry. This market encompasses the manufacturing and distribution of passive electrical components, such as resistors, capacitors, inductors, and transformers, which play a crucial role in electric circuits as power sources and in conjunction with active components like transistors and integrated circuits (ICs). According to market research firm Technavio, the global semiconductor market size is determined by the revenue generated from the sale of ICs, which are shipped to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) by both fab and fabless companies, as well as integrated device manufacturers (IDMs). Factors driving growth in the semiconductor market include substantial investments in constructing new fabrication plants (fabs) and expanding existing ones to meet the increasing demand for advanced semiconductor technologies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/