The Thin Film Chip Resistors Market is being driven by Growth of data center infrastructure
The Thin Film Chip Resistors Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 408.2 million. In response to regulatory pressures and growing consumer awareness towards eco-friendly electronics, market participants are prioritizing the development and adoption of lead-free passive components, including chip resistors. These components, such as YAGEO's RC-P series and Vishay Intertechnology's D/CRCW series, offer environmental benefits without compromising performance. With applications spanning consumer electronics, defense, and aerospace industries, lead-free chip resistors are poised to become a preferred choice for manufacturers seeking to minimize their environmental footprint.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Industrial equipment, Consumer electronics, Others) Geography (North America, APAC, Europe, 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:
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Key Features in Thin Film Chip Resistors Market Research Report
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The Thin Film Chip Resistors market encompasses the production and supply of thin film resistors used in various applications, including data capture systems, sensors, computer power management, networking equipment, robotics, and advanced material industries. These resistors, which offer high precision and stability, are essential components in electricity flow control, voltage and current circuits, integrated circuit devices, and surface-mounted electronic components. The market caters to sectors such as automotive and transportation, IT and telecommunications, electronics, and IoT devices, among others. Key features of thin film chip resistors include temperature coefficients, tolerances, power ratings, and resistance values. Wireless communication technology and voltage regulation are other significant applications.
The Thin Film Chip Resistors Market is a significant segment of the larger electrical components and equipment industry. This market caters to the demand for precision resistors used in various applications, including data capture, sensors, computer power, networking, robotics, advanced materials, electricity, voltage, current, and circuits. Key industries served include consumer electronics, electronic devices, smartphones, tablets, automotive electronics, and industrial electronics. The parent market, encompassing electrical components and equipment manufacturers, generates revenue from various sectors, including water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Additionally, the market includes rental and leasing of electrical components and equipment to industrial, commercial, and residential clients.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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