Global General Electronic Components Market To Reach Value Of About $509 Billion In 2025
11 Mar, 2021
The general electronic components market consists of sales of general electronic components and related services used in a wide range of applications in areas such as aerospace, communication, automotive and other industries. General electronic components are the devices that works within an electronic system to have an effect on their associated fields. These components have a number of electrical terminals which are connected to form an electronic circuit with a particular function such as amplifier or oscillator.
Global General Electronic Components Market Size And Drivers:
The global general electronic components market is expected to grow from $337.12 billion in 2020 to $378.68 billion in 2021 at a compound annual growth rate (CAGR) of 12.3%. The market is expected to reach $509.06 billion in 2025 at a CAGR of 8%.
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.
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Trends In The Global General Electronic Components Market
Adaption of the internet of things (IoT) acts as a key trend driving the growth of the general electronic components 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.
Global General Electronic Components Market Segments:
The global general electronic components market is further segmented based on product type, end use industry, sales and geography.
By Product Type: Passive, Active, Electromechanical components, Others.
By End Use Industry: Aerospace, Communication, Automotive, Others.
By Sales: Aftermarket, Manufacturer/Distributor/Service Provider.
By Geography: The global general electronic components market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global General Electronic Components Market At:https://www.thebusinessresearchcompany.com/report/general-electronic-components-global-market-report
General Electronic Components Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides general electronic components market overviews, analyzes and forecasts market size and growth for the global general electronic components market, general electronic components market share, general electronic components market players, general electronic components market segments and geographies, general electronic components market’s leading competitors’ revenues, profiles and market shares. The general electronic components market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.