Market Dynamics:

Increasing adoption of 5G technology is one of the major drivers estimated to boost the growth of passive electronic components market over the forecast period. 5G wireless network requires advanced passive components at both infrastructure equipment and mobile devices to process high frequencies and filter signals. In infrastructure equipment, passive electronic components play a vital role in radio frequency (RF), analog frontend modules (AFE), and broadband/optical modules. At mobile devices, passive components are extensively used in RF modules, power management integrated circuits (PMICs), and wafer level packages (WLP).

Another driver fueling the market growth is growing demand for passive components from electric vehicles industry. Passive electronic components are witnessing increasing usage in electric vehicles (EVs) for battery management, power distribution, charging management and other control functions. Rising demand for EVs owing to stringent emission norms is creating new opportunities for passive component manufacturers in automotive sector.

Key Takeaways:

The Global Passive Electronic Components Market Size is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing adoption of passive devices in a wide variety of end-use industries. Advancements in communication networks, industrial automation and electric mobility will remain the key drivers.

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