The global General Electronic Components Market is estimated to be valued at US$ 498.34 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

General electronic components refers to basic electronic elements that are used for developing various consumer electronics and industrial systems. They include integrated circuits, resistors, capacitors, and sensors which are widely used in computers, televisions, mobile phones and other appliances due to their ability to conduct signals with high accuracy and efficiency.

Market key trends:-

The development of advanced nanoscale general electronic components facilitates the production of sophisticated electronic devices with minimal space and power consumption. Products such as graphene-based transistors and compact nanoscale resistors are enabling the fabrication of extremely thin wearables and miniature consumer electronics. Furthermore, rapid developments in sensor technologies allow for more precise temperature, pressure and motion detection for use across various industries including automotive, healthcare, manufacturing and defense. Growing demand for IoT-enabled devices worldwide is also driving research and development of cost-effective sensing components and integrated circuits suitable for low-power applications. Advancements in semiconductor fabrication processes would con

SWOT Analysis:-

• Strength:- Wide applications in automotive, telecommunication, consumer electronics augment the demand for general electronic components.
• Weakness:- Significant investment required for setting up manufacturing units of electronic components.
• Opportunity:- Growing need for miniaturized components to facilitate compact industrial and consumer device designs presents an opportunistic area.
• Threats:- Presence of low-cost alternatives and availability of substitutes can threaten growth.

Key Takeaways:-

The global General Electronic Components Market is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing demand for smart appliances and consumer electronic devices.

Regional analysis:- Asia Pacific dominated the market with a share of over 40% in 2023 owing to presence of electronic manufacturing hubs in China, Taiwan and emergence of fabless design companies in India and South Korea. Furthermore, high domestic demand from burgeoning middle class is driving the regional market.

Key players operating in the General Electronic Components Market are Panasonic Corporation, Samsung Electronics Co. Ltd., Intel Corporation, Texas Instruments Incorporated, Toshiba Corporation, Sony Corporation, STMicroelectronics N.V., NXP Semiconductors N.V., Infineon Technologies AG, Broadcom Inc., Analog Devices Inc., Murata Manufacturing Co. Ltd., Vishay Intertechnology Inc., ON Semiconductor Corporation, Renesas Electronics Corporation.

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