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.
- The integrated passive devices market in China is expected to witness growth at a CAGR of 11.9% from 2022-2032.
- Based on material, the silicon-based integrated passive devices segment is projected to dominate by showcasing a CAGR of 10.3% through 2032.
- The U.S. integrated passive devices market is projected to showcase steady growth at a CAGR of 9.8% in the evaluation period.
- The integrated passive devices market in Japan is expected to grow considerably at a CAGR of 11.5% from 2022 to 2032.
- India is set to exhibit exponential growth in the integrated passive devices market by exhibiting a CAGR of 11.4% in the forthcoming years.
- Increasing use of entertainment & navigation systems in automobiles and high demand for consumer durables are projected to spur the market.
- Rising demand for miniaturized & high-performance electronic devices and rapid development of next-generation communication technology are set to aid growth.
- In comparison to discrete components, integrated passive devices are more expensive, which may hamper the market.
- As conventional printed circuit boards are standardized for individual discrete components, integrated passive devices are not suitable for these.
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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.
- In June 2021, Apple announced that it is planning to considerably boost the use of integrated passive devices (IPD) in upcoming iPhones and other iOS products, thereby generating solid economic potential for TSMC and Amkor.
- In August 2020, Johnson Technology announced the launch of its new filter/balun-based integrated passive devices for Semtech’s LoRa Smart Home and Long Range & Low Power LoRa RF transceivers.
- In November 2019, a financial initiative to advance Microelectronics Training, Industry, and Skills (METIS) across the area was launched by the European Union and SEMI. It will help the government support the emerging verticals in the area such as industry 4.0, AI, and autonomous vehicles.
- In 2019, STMicroelectronics and Truphone confirmed a collaboration to provide Murata with Truphone’s technology for the creation of a low-power cellular module for the Internet of Things/M2M devices.
Key Companies Profiled by Fact.MR
- Texas Instruments Incorporated
- Qurvo, Inc.
- Murata Manufacturing Co. Ltd.
- NXP Semiconductors
- ON Semiconductors
More Valuable Insights on Integrated Passive Devices Market
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:
- Customized IPDs
- RF IPD
- Digital & Mixed Signals
By Wireless Technology:
By End-use Industry:
- Consumer Electronics
- Aerospace & Defense
- Healthcare & Lifesciences
- North America
- Latin America
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Key Questions Covered in the Integrated Passive Devices Market Report
- What is the projected value of the integrated passive devices market in 2022?
- At what rate will the global integrated passive devices market grow until 2032?
- Which are the factors hampering the growth in the integrated passive devices market?
- Which region is expected to lead in the global integrated passive devices market during 2022-2032?
- Which are the factors driving the integrated passive devices market during the forecast period?
- What is the expected market value of the integrated passive devices market during the forecast period?
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