Integrated Passive Device Market is estimated to reach US$ 1,647.8 million by 2027 from US$ 820.6 million in 2018
PUNE, MAHARASHTRA, INDIA, December 11, 2019 /EINPresswire.com/ — Asia-Pacific is anticipated to be the fastest growing market in the integrated passive device market. The APAC region comprises a broad geographical footprint that embeds the large number of industrial and economic growth, which foresee huge application of IPDs which would accentuate the growth of integrated passive device market in APAC. Moreover, the North American countries witnessed higher consumer electronics usage, as this region comprises of technologically advanced country, coupled with high disposable incomes with individuals, the consumer electronics industry has blossomed in the region. The overall consumer electronics spending recorded by North American region in the year 2018 was over US$ 115.9 Bn, which is expected to fuel integrated passive device market in this region.
The consumer electronics industry has experience enormous growth across the globe and the primary driver to enhance this growth is the demand for miniaturization. In the current scenario, several consumer electronic devices are used by consumers across the globe for several tasks. Consumer electronic devices such as tablets, smart watches, smartphones, etc. have become an essential part of users’ lifestyle. The consumer devices are becoming smarter with the advancement in technology. The AI-enabled applications have strengthened the demand for cheaper chipsets which require less space to be installed inside the device. The consumer electronics market is rapidly growing, owing to the fact that several semiconductor companies are regularly coming up with advanced technologies which are attracting the industry. This will drive the integrated passive device market in the forecast period.
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Some of the key companies operating in integrated passive device market across the globe include Johanson Technology, Inc., STMicroelectronics N.V., Murata Manufacturing Co., Ltd., OnChip Devices, Inc., 3D Glass Solutions, Inc., AVX Corporation, STATS ChipPAC Pte. Ltd., NXP Semiconductors N.V., ON Semiconductor, and Infineon Technologies among various other leading market players. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
The growing demand for advanced electronic devices across various industries such as telecommunication, healthcare, automotive, and others the requirement of miniaturization of devices is increasing. The IPD’s are integrated within these electronic devices namely: RF IPD is incorporated into connected devices that comprise of mobile phones and tablets. These products are interconnected with various assembly modes, such as wire bonding, micro bumping, and thus, provides the scope for customization of products as per the requirement of the customer. The end users are demanding the chip manufacturer to customize the chip with the use of IPDs instead of discrete components to meet the need of miniaturization of the devices are the upcoming trend of integrated passive device market.
The integrated passive device market by application is segmented into ESD/EMI Protection, Digital and Mixed Signals, RF IPD, and Others. Increasing adoption of electronics devices, automotive infotainment, smart wearable devices, and other IoT devices. However, the rapidly changing nature of technology requiring consistent changes in manufacturing equipment. Also, the proliferation of customized IPDs and surging 5G technology are expected to provide substantial growth opportunity to the key players in integrated passive device market.
New market initiatives were observed as the most adopted strategy in global integrated passive device market. Few of the recent market initiatives are listed below:
2019: STMicroelectronics announced its collaboration with Truphone, to provide its technology to Murata for introducing a low power cellular module for the world of IoT/M2M devices.
2018: 3D Glass Solutions announced its new headquarter in Albuquerque, along with the investment of about US$ 23 million for the next five years. With this expansion the company focuses on continuous growth across science and technology sector.
2018: NXP Semiconductors signed a pact with Tata Consultancy Services to work together on unique solutions for automotive, security and IoT industries.
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Source: EIN Presswire