A Detailed Outlook of the Electronic Components Market: Trends, Industry Highlights, and Competitive Scenario
The Global Electronic Components Market was valued at $0.6 trillion in 2023 and is projected to reach $1.0 trillion by 2032
The report offers a detailed quantitative and qualitative analysis of the global electronic components market from 2024 to 2032, providing shareholders with valuable insights into the current industry landscape. It covers an in-depth examination of both regional and global markets, with all the essential data sourced from trusted references and rigorously validated by industry experts. According to AMR analysis, the market is projected to reach $1.0 trillion by 2032, achieving a remarkable CAGR of 6.9% from 2024 to 2032.
The study further examines the market’s demographics, suitability, and growth potential over the forecast period. This analysis helps assess the sector’s size and offers a framework for understanding its growth trajectory. It also highlights current and future investment opportunities across different segments.
Industry updates
In November 2023, Jabil Inc., a leading designing and manufacturing company announced its acquisition of Retronix Ltd., a UK-based electronics recycler. With this acquisition, Jabil planned to take an environmental-supportive initiative to reuse and recycle electronic components. With this step, the company envisions offering decarbonization solutions to its customers worldwide.
In September 2024, Mouser Electronics, Inc., a global distributor of electronic components joined forces with Altium LLC, a leader in software and solutions for the electronic industry. Under this agreement, the companies aim to empower future electronic design engineers by offering expanded access to state-of-the-art design tools and resources.
Market dynamics
The growth of the electronic components industry is attributed to the surging investments made by leading electronic components manufacturers in the next-generation AI-integrated chips, resistors, and various advanced display technologies. Furthermore, the rapid integration of IoT technology in this field is predicted to create lucrative opportunities for the landscape in the coming years. However, the high investment costs have become a bigger concern in this domain.
Latest trends bringing green revolution in electronic manufacturing
The electronic components industry has undergone a significant transition toward sustainable manufacturing practices. Companies are increasingly focusing on reducing their carbon footprints through eco-friendly initiatives, such as utilizing renewable energy sources and improving waste management. For instance, manufacturers like Infineon aim for substantial reductions in greenhouse gas emissions. Moreover, with the rising global energy concerns, there is a heightened demand for energy-efficient electronic components. In addition, innovations in low-power processors and memory optimization are creating waves in the domain. This trend is particularly evident in the development of advanced chips that balance performance with energy efficiency. On the other hand, the automotive electronics segment is booming, fueled by advancements in advanced driver assistance systems and the electrification of vehicles. This growth is driven by the increasing integration of infotainment systems and other smart technologies in vehicles.
Regional insights
The AMR report also highlights the regional analysis of the electronic components market covering different geographical areas including LAMEA, Europe, Asia-Pacific, and North America. Based on the report, the Asia-Pacific region is projected to manifest the highest CAGR of 7.9% during the forecast period. This is mainly due to the presence of top electronic components manufacturers and the existence of high-tech manufacturing infrastructure across the region. Moreover, the continuous investments made by leading countries such as China in R&D activities and the rising government initiatives for boosting technological innovation are expected to create wide growth opportunities in the region.
Competitive landscape
- NXP Semiconductors N.V.
- Hitachi AIC
- Fujitsu Component
- AVX Corporation
- fci electronics
- API Technologies Corp
- Panasonic Corporation
- Datronix Holdings
- Renesas Electric Corporation,
- Eaton Corp.
In summary, the AMR report on the electronic components market sheds light on key factors that positively influence the industry's future. Its comprehensive analysis of the competitive landscape, emerging trends, and regional dynamics equips companies with the necessary insights to adapt their strategies aligning with the changing industry conditions.
About the Creator
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Comments (1)
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