Integrated Passive Devices Market to Surpass US$ 3.23 Billion by 2032 As Trend for In-vehicle Infotainment (IVI) Systems Surges
Burgeoning Smartphone Shipments Equipped with Multiple Features across India to Foster Integrated Passive Devices Industry
The integrated passive devices market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the market. The report provides in-depth insights covering vital factors such as drivers, opportunities, key players' strategies, and demand outlook. In addition to this, the study analyzes latest trends across segments, including material, passive devices, application, wireless technology, end-use industry, and region for the forecast period (2022-2032).
NEW YORK, Sept. 20, 2022 /PRNewswire/ -- The global integrated passive devices market is set to exhibit a robust CAGR of 10.3% during the forecast period (2022-2032). The market was valued at US$ 1.1 Billion in 2021 and it is expected to reach a valuation of nearly US$ 3.23 Billion by 2032.
The market for integrated passive devices is growing at a fast pace as a result of their energy efficiency, small footprint, and high performance in AI and 5G terminal devices. Need for integrated passive devices in the automobile industry has been further driven by increased use of in-vehicle infotainment (IVI) systems and sophisticated telematics. GPS systems, instrument clusters, and other automotive electronics extensively use ultra-miniaturized RF passive components, which would aid the market.
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As per Fact.MR, by end-use industry, the consumer electronics category includes electronic gadgets used for leisure, communication, and business purposes. Consumer electronics is projected to remain at the forefront in the global integrated passive devices market during the forthcoming years.
Smartphones, notebook computers, tablets, game consoles, and wearables are some of the examples of consumer electronics. Increasing use of integrated passive devices in smartphones and high demand for multiple features in these phones are projected to push sales in the market.
As per the India Brand Equity Foundation (IBEF), in 2021, the Indian appliances and consumer electronics sector reached a valuation of US$ 9.84 Billion and is estimated to be valued at US$ 21.18 Billion by 2025. In 2021, the country's smartphone shipments witnessed YoY growth of 11%, which is projected to surge at a fast pace in the next decade and propel sales of integrated passive devices.
Based on region, the integrated passive device market is mainly dominated by Europe. Growth is attributed to the early adoption of state-of-the-art technologies in countries such as the U.K. and Germany. Besides, the presence of various renowned integrated passive devices manufacturers like Infineon Technologies across Europe would fuel the market in the region.
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In the integrated passive devices market, regional companies are competing fiercely. Some of the primary tactics of the industry's major players include new collaborations and joint ventures with local or small-scale firms.
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In the latest study, Fact.MR offers a detailed study on the global integrated passive devices market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of integrated passive devices through detailed segmentation as follows:
By Passive Devices:
By Wireless Technology:
By End-use Industry:
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