Information Technology
Electronic Components Market to Reach $1.0 trillion, Globally, by 2032 at 6.9% CAGR: Allied Market Research
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The electronics components market is expected to witness notable growth owing to a surge in urbanization and the proliferation of smart city projects. Moreover, the adoption of electronics components in the healthcare sector is expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, high initial investment limits the growth of the electronics components market.
Based on type, the active components segment held the highest market share in 2023, accounting for more than half of the global electronics components market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to its indispensable role in powering electronic devices and systems, including amplifying signals, regulating currents, and controlling electronic circuits. However, the passive components segment is projected to manifest the highest CAGR of 7.9% from 2024 to 2032.
On the basis of application, the consumer electronics segment held the highest market share in 2023, accounting for nearly one-third of the global electronics components market revenue, and is estimated to maintain its leadership status throughout the forecast period. However, the automotive segment is projected to manifest the highest CAGR of 9.5% from 2024 to 2032, owing to the widespread adoption of electronics components in the next-generation electric vehicle solution globally.
On the basis of region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than half of the revenue owing to the region's robust manufacturing ecosystem, technological advancements, and increasing demand for electronic devices across various industries such as consumer electronics, automotive, and telecommunication. The Asia-Pacific region is expected to hold the leading position during the forecast period of 2024-2032 with a CAGR of 7.9%.
The report provides a detailed analysis of these key players in the global electronics components market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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