Passive
and Interconnecting Electronic Components Market Share, Trends, Analysis Report
– 2034

The global passive and interconnecting electronic components
market reached USD 180.2 billion in 2024 and is projected to grow at a CAGR of
6.9% between 2025 and 2034.

This growth is fueled by the increasing adoption of the
Internet of Things (IoT), rapid advancements in automotive electronics, and
rising demand for high-performance electronic components across multiple
industries. As the world becomes more connected, industries are placing greater
emphasis on energy efficiency, automation, and seamless connectivity, driving
the need for reliable electronic components.

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IoT integration has been a key factor in shaping the market
landscape. With smart devices becoming an essential part of everyday life, the
demand for high-quality passive and interconnecting components continues to
surge. Smart home systems, wearable devices, industrial automation, and smart
cities all rely on these electronic components for efficient performance and
connectivity. The rise in data-driven technologies, edge computing, and
cloud-based applications has further accelerated demand. Additionally, the
increasing penetration of 5G networks, artificial intelligence (AI), and
advanced telecommunication infrastructure has amplified the need for resilient
and high-efficiency electronic components.

The automotive sector is also a major contributor to passive
and interconnecting electronic components market expansion. Modern vehicles are
increasingly dependent on electronic systems, from advanced driver-assistance
systems (ADAS) and infotainment to electric vehicle (EV) powertrains and
battery management systems. The shift toward electric and autonomous vehicles
has created a higher demand for passive and interconnecting components,
ensuring performance, safety, and longevity in next-generation automotive
technologies. Automakers are integrating more electronic control units (ECUs),
sensors, and high-speed connectors to enhance vehicle efficiency, automation,
and user experience.

The passive components segment generated USD 101 billion in
2023, comprising essential components such as resistors, capacitors, inductors,
and transformers. These components do not require external power to operate but
instead store, absorb, or dissipate energy within circuits. Their indispensable
role in consumer electronics, industrial applications, telecommunications, and
medical devices is fueling steady demand. With manufacturers prioritizing
miniaturization and higher energy efficiency, passive components have become
critical to ensuring durability, performance, and reliability in modern
electronic devices.

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The consumer electronics segment in the passive and
interconnecting electronic components market accounted for a 24.7% share in
2024. The growing proliferation of smartphones, laptops, home appliances, and
wearable devices continues to drive demand for high-quality capacitors,
resistors, and connectors. As electronic devices evolve with faster processing
speeds, enhanced battery life, and compact designs, manufacturers increasingly
depend on passive and interconnecting components to maintain seamless functionality.

The U.S. passive and interconnecting electronic components
market reached USD 54.9 billion in 2024, driven by strong technological
advancements, increasing automation, and continued investment in digital
infrastructure. The country remains at the forefront of innovation in sectors
like automotive, telecommunications, and consumer electronics, creating a
sustained demand for electronic components. With industries increasingly
adopting AI, robotics, and smart manufacturing, the need for reliable, high-performance
passive and interconnecting components is expected to rise further in the
coming years.

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