The growing use of passive components in many applications such as laptops, smartphones, and others is prognosticated to accelerate the growth of global high and medium power passive components market.
The high and medium power passive components are utilized across wide range of industry verticals, such as automotive and industrial, data processing, consumer electronics, aerospace and defense, telecommunication, and others.
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Increased Demand for Thinner Consumer Products to Drive Market Growth
Passive devices refer to the major components that are utilized in various consumer electronic products such as capacitors and transformers, inductors, and resistors. These components are needed in the manufacturing of any electronic or electrical circuit.
The global high and medium power passive components market is anticipated to gain traction from the relentless efforts of the manufacturers to provide components at a reasonable price. Passive components like microwave components, radio frequency (RF) components, and many other such components are widely used across numerous industries worldwide. Such high use of passive components is likely to stimulate the growth of global high and medium power passive components market.
The massive use of passive components by the smartphone industry is the major force that is catalyzing the global high and medium power passive components market. The major manufacturers of passive components have forayed into a market where smartphones account for nearly 80% of the overall phone market. Dominance of smartphones will necessitate the demand for passive component market. A large number of passive components are required for the purpose of integration smartphones, and it will propel the growth of global high and medium power passive components market.
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To cater to the rising demand for reduced size of products, particularly in the consumer electronics industry, use of multilayer ceramic capacitors has been made popular. It has resulted in the integration of passive component into semiconductor dies and the packaging of consumer electronics.