The Electrical And Electronics Components by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electrical And Electronics Components , The electrical and electronics components market size has grown rapidly in recent years. It will grow from $60.34 billion in 2023 to $67.54 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to consumer electronics boom, automotive electronics growth, industrial automation, increased data storage needs, demand for energy-efficient devices.
The electrical and electronics components market size is expected to see rapid growth in the next few years. It will grow to $104.99 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to electric vehicles and charging infrastructure, edge computing expansion, flexible and printed electronics, cybersecurity demands, smart cities initiatives, sustainable and green electronics.. Major trends in the forecast period include advanced semiconductor technologies, customization in component design, ai integration in component development, supply chain resilience and digitalization, 5g technology deployment.
The rising penetration of smartphones is expected to propel the growth of the electrical and electronics components market going forward. Smartphones are portable handheld devices used for various functions. In recent times, consumers have had access to a wide range of gadgets for entertainment and shopping, including laptops, and smartphones which increased the demand for smartphones, which in turn increased the demand for electronic components used in smartphones. For instance, in 2022, according to the recent data published by Obrelo, a Lithuania-based e-commerce website, 96.1% of consumers would own a mobile phone. Tablets are the third most common electronic gadget, with 34% of people globally owning at least one, followed by laptops and desktop computers owned by 59% of global consumers. Hence, the rising penetration of smartphones drives the electrical and electronics components market.
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The electrical and electronics components market covered in this report is segmented –
1) Electrical And Electronics Components Market By Type: Passive, Active, Electro Mechanics
2) Electrical And Electronics Components Market By End User: Consumer Electronics, Networking And Telecommunication, Automotive, Manufacturing, Aerospace And Defense, Healthcare, Other End users
Top Major Players
Technological advancement is a key trend gaining popularity in the electrical and electronic components market. Major companies operating in the electrical and electronics components market are focused on developing new technological solutions to strengthen their position in the market. For instance, in March 2022, Odyssey Semiconductor Technologies, Inc., a New York-based semiconductor manufacturing company, developed advanced vertical GaN power field-effect transistors (FETs). These transistors combine SiC’s higher voltage rating with GaN’s excellent conversion efficiency would result in ground-breaking performance for the most demanding applications by providing industry-leading efficiency that has been validated with its approach at a 700 V rating that exhibits very low gate leakage and can be operated in a mode where they are normally off.
The electrical and electronics components market report table of contents includes:
1. Executive Summary
2. Electrical And Electronics Components Market Characteristics
3. Electrical And Electronics Components Market Trends And Strategies
4. Electrical And Electronics Components Market – Macro Economic Scenario
5. Global Electrical And Electronics Components Market Size and Growth
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31. Global Electrical And Electronics Components Market Competitive Benchmarking
32. Global Electrical And Electronics Components Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electrical And Electronics Components Market
34. Electrical And Electronics Components Market Future Outlook and Potential Analysis
35. Appendix
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