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Integration Of IoT To Shape The General Electronic Components Market Growth

General Electronic Components Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

General Electronic Components Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s General Electronic Components Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, May 2, 2022 /EINPresswire.com/ -- Adaption of the internet of things (IoT) acts as one of the key general electronic components market trends driving the growth of the market. In the past few years, IoT is experiencing a massive boom. IoT provides communication and connection between various devices such as fitness watches, smartphones, and smart meters. General electronic components such as resistors, transistors, capacitors, and diodes are used in making smart devices, sensors, and actuators that can interconnect with each other. According to the IoT Analytics, at the end of 2020, 11.7 billion (or 54%) of the 21.7 billion active linked devices globally will be IoT system connections. More than 30 billion IoT connections, approximately 4 IoT devices per person on average, are projected to exist by 2025. Thus, indicating a high demand for IoT devices.

The global general electronic components market size is expected to grow from $484.99 billion in 2021 to $541.95 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%.The growth in the general electronic components market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The general electronic component market share is expected to reach $805.88 billion in 2026 at a CAGR of 10.4%.

Read more on the Global General Electronic Components Market Report
https://www.thebusinessresearchcompany.com/report/general-electronic-components-global-market-report

Increasing demand for microwave tubes, cathode-ray tubes, X-ray tubes, photoelectric tubes and triodes in display devices is expected to drive the general electronic components market in the forecast period. Display devices are the output devices that offer information in visual form. Most of the devices are going smart nowadays, thus increasing the growth of display devices. The display devices are creating many opportunities for the growth of the electronic component market in various applications such as satellite and space technology, automotive, military applications, IoT and others. Asia-Pacific was the major market in general electronic components with China leading Asia Pacific market due to the presence of largest chip designers, chipmakers and other critical components that are used in laptops, smartphones, and internet of things applications.

Major players covered in the global general electronic components market are Vishay Intertechnology, Fairchild Semiconductor, STMicroelectronics, Texas Instruments, Toshiba, NXP Semiconductors N.V., Panasonic Corporation, Renesas Electric Corporation, Hitachi, and Infineon Technologies.

TBRC’s global general electronic components market analysis report is segmented by product type into passive, active, electromechanical components, others, by end-use industry into aerospace, communication, automotive, others, by sale into aftermarket, manufacturer/distributor/service provider.

General Electronic Components Global Market Report 2022 – By Product Type (Passive, Active, Electromechanical components), By End Use Industry (Aerospace, Communication, Automotive), By Sales (Aftermarket, Manufacturer/Distributor/Service Provider) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a general electronic components market overview, forecast general electronic components market size and growth for the whole market, general electronic components market segments, geographies, general electronic components market trends, general electronic components market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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