Global General Electronic Components Market Report 2022
New York, March 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “General Electronic Components Global Market Report 2022” – https://www.reportlinker.com/p06247457/?utm_source=GNW
The global general electronic components market is expected to grow from $484.99 billion in 2021 to $541.95 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The growth is mainly due to companies reorganizing their operations and recovering from the COVID-19 impact, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which led to challenges. operational. The market is expected to reach $805.88 billion in 2026 with a CAGR of 10.4%.
The general electronic components market includes 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 operate in an electronic system to affect their associated fields.
These components comprise a certain number of electrical terminals which are connected to form an electronic circuit having a particular function such as an amplifier or oscillator.
The main product types of general electronic components are passive, active, electromechanical and other components. An electromechanical component uses an electrical signal to cause a mechanical change, such as the rotation of a motor.
A magnetic field is created by an electric current, which causes physical motion. Products are sold through the aftermarket and manufacturers/distributors/service providers and are used by aerospace, communications, automotive and other end users.
Asia Pacific was the largest region in the general electronic components market in 2021. North America was the second largest region in the general electronic components market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing demand for microwave tubes, CRTs, X-ray tubes, phototubes, and triodes in display devices is expected to drive the general electronic components market over the forecast period. Display devices are the output devices that offer information in visual form.
Most of the devices are getting smart these days, thus increasing the growth of display devices. Display devices are creating numerous opportunities for the growth of the 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, chipmakers and other critical components used in computers wearables, 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 in the supply of electronic components, which is expected to restrain the growth of the market general of electronic components during the forecast period. The IPC study from mid-February 2020 indicated that around 65% of electronics producers were facing component shortages.
The most affected electronic components are multilayer ceramic capacitors (MLCC), resistors, transistors and integrated circuits. For example, according to market updates from 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 adaptation of the 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 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 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 world’s 21.7 billion active linked devices will be IoT system connections. More than 30 billion IoT connections, or about 4 IoT devices per person on average, are expected to exist by 2025. So this indicates a strong demand for IoT devices.
The countries covered in the general Electronic Components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06247457/?utm_source=GNW
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