New York, June 11, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “General Electronic Components Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/ p06072068 / ? utm_source = GNW
The global general electronic components market is expected to grow from $ 337.12 billion in 2020 to $ 378.68 billion in 2021 at a compound annual growth rate (CAGR) of 12.3%. The growth is mainly driven by companies reorganizing their operations and recovering from COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the shutdown of business activities which resulted in operational challenges. The market is expected to reach $ 509.06 billion in 2025 at a CAGR of 8%.
The general electronic components market includes the sale of general electronic components and related services used in a wide range of applications in fields such as aerospace, communication, automotive and other industries. General electronic components are the devices that work in an electronic system to have an effect on their associated fields.
These components have a number of electrical terminals which are connected to form an electronic circuit with a particular function such as amplifier or oscillator.
The growing demand for microwave tubes, cathode ray tubes, x-ray tubes, phototubes and triodes in display devices is expected to drive the general electronic components market during the forecast period. Display devices are the output devices that provide information in visual form.
Most of the devices are getting smart nowadays increasing the growth of display devices. Display devices create plenty of opportunities for the growth of electronic components market in various applications such as satellite and space technology, automotive, military applications, IoT and others.
Asia-Pacific was the main market for general electronic components, with China leading the Asia-Pacific market due to the presence of the largest chip designers, chip makers and other critical components used in computers. laptops, smartphones and Internet of Things (IoT) applications.
Due to an increase in the demand for electronic components in various applications such as automotive, IoT, smart devices and others, there is a shortage of electronic components which is expected to restrain the growth of the components market. general electronics during the forecast period.A An IPC study in mid-February 2020 indicated that around 65% of electronics producers face component shortages.
The most affected electronic components are multilayer ceramic capacitors (MLCCs), resistors, transistors and integrated circuits. For example, according to market updates by investment firms such as Morgan Stanley and Stifel, the current shortage of electronic components appears to be getting worse.
The MLCC shortage is the largest among all electronic components with pending order requests.
The general electronic components covered in this report are segmented by product type into passive, active, electromechanical and other components. It is also segmented by aerospace, communication, automotive, and other end use industry.
The adaptation of Internet of Things (IoT) is acting as a key trend driving the growth of the general electronic components market. Over the past few years, the IoT has experienced a massive boom.
The IoT provides communication and connection between various devices such as fitness watches, smartphones and smart meters. General electronic components such as resistors, transistors, capacitors and diodes are used to make smart devices, sensors and actuators that can interconnect.
According to IoT Analytics, by the end of 2020, 11.7 billion (or 54%) of the 21.7 billion active connected devices worldwide will be connections to the IoT system. Over 30 billion IoT connections, around 4 IoT devices per person on average, are expected to exist by 2025, indicating strong demand for IoT devices.
Read the full report: https://www.reportlinker.com/p06072068/?utm_source=GNW
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