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General Electronic Components Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·3-min read

Major players in the general electronic components market are Vishay Intertechnology, Fairchild Semiconductor, STMicroelectronics, Texas Instruments, Toshiba, NXP Semiconductors N. V. , Panasonic Corporation, Renesas Electric Corporation, Hitachi, and Infineon Technologies.

New York, June 11, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release 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 due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that 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 consists of sales of general electronic components and related services used in a wide range of applications in areas such as aerospace, communication, automotive and other industries.General electronic components are the devices that works within 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.

Increasing demand for microwave tubes, cathode-ray tubes, X-ray tubes, photoelectric tubes and triodes in display devices is expected to drive the general electronic components market in the forecast period.Display devices are the output devices that offer information in visual form.

Most of the devices are going smart nowadays, thus increasing the growth of display devices.The display devices are creating many opportunities for the growth of the electronic component market in various applications such as satellite and space technology, automotive, military applications, IoT and others.

Asia-Pacific was the major market in general electronic components with China leading the Asia Pacific market due to the presence of largest chip designers, chipmakers and other critical components that are used in laptops, smartphones, and internet of things (IoT) applications.

Due to an increase in demand for electronics components in various applications such as automotive, IoT, smart devices and others, there is a shortage of electronic components supply, is expected to restrain the growth of the general electronic components market in the forecast period.A mid-February 2020 IPC study reported that about 65% of electronics producers were facing component shortages.

The most affected electronic components are multi-layer ceramic capacitor (MLCC), resistors, transistors, and integrated circuits.For instance, according to the market updates by investment firms such as Morgan Stanley and Stifel, the ongoing electronic component shortage appears to be getting worse.

The shortage of MLCC is the most among all the electronic components with pending order requests.

The general electronic components covered in this report is segmented by product type into passive, active, electromechanical components and others. It is also segmented by end use industry into aerospace, communication, automotive and others.

Adaption of the internet of things (IoT) acts as a key trend driving the growth of the general electronic components market.In the past few years, IoT is experiencing a massive boom.

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 in making smart devices, sensors, and actuators that can interconnect with each other.

According to the IoT Analytics, at the end of 2020, 11.7 billion (or 54%) of the 21.7 billion active linked devices globally will be IoT system connections. More than 30 billion IoT connections, approximately 4 IoT devices per person on average, are projected to exist by 2025. Thus, indicating a high demand for IoT devices.
Read the full report: https://www.reportlinker.com/p06072068/?utm_source=GNW

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