May 18, 2024

The General Electronic Components Market is driven by increasing demand for consumer electronic devices

 

The general electronic components market consists of a wide range of components and parts that perform basic functions and are commonly used in various electronic devices and equipment. Components such as resistors, capacitors, inductors, transformers, diodes, transistors and integrated circuits form the backbone of any electronic device. They play a critical role in determining the performance, efficiency and reliability of products ranging from simple circuits to complex systems. The key function of these basic components is to control and regulate voltage and current within various circuits. In addition, other passive components such as connectors and cables are also included in this market. The demand for electronic components is stimulated by the ever-growing consumer electronics industry. Smartphones, tablets, laptops and other portable consumer devices require a variety of electronic parts and interconnects to perform different operations. General components allow circuit designers to develop innovative product form factors with enhanced functionality. 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 key trends:

One of the key trends in the general electronic components market is the increasing miniaturization of components. Constant innovation and advancement in semiconductor manufacturing technologies have enabled the development of smaller and more powerful electronic parts. Miniaturization allows for the integration of more components into compact spaces and the development of smaller electronic devices. This is especially important in portable consumer electronics where small size and lightweight products are preferred by consumers. Ongoing research focuses on developing semiconductor technologies like 3D integration to stack more transistors vertically and reduce the overall footprint of components. The miniaturization trend will continue to drive innovation and progress in the general electronic components industry.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as high capital investment is required for R&D, manufacturing, and marketing. However, the availability of suppliers reduces the entry barriers.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitute products. Buyers can switch between suppliers easily based on better product offering and pricing.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials are available but some components require specialized manufacturing processes.

Threat of new substitutes: The threat of new substitutes is high with continuous innovations in various semiconductor technologies, processors, sensors, and memory devices.

Competitive rivalry: The competitive rivalry is high due to the presence of numerous global and regional players competing on product quality, pricing, and reliability.

Key Takeaways
The global General Electronic Components market is expected to witness high growth. The Asia Pacific region currently dominates the market owing to rapid industrialization and growing consumer electronics industry in countries like China, India, South Korea, and Japan.

Regional analysis: The Asia Pacific region is projected to be the fastest growing as well as the largest market during the forecast period. China dominates Asia Pacific’s general electronic components market due to the presence of manufacturing facilities of prestigious brands.

Key players: 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.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it