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$187.5 Billion Interconnects and Passive Components Market
April 6, 2017 | Business WireEstimated reading time: Less than a minute
Research and Markets has announced the addition of the "Interconnects and Passive Components Market by Passive Components, Interconnect Type, Application, and Region - Global Forecast to 2022" report to their offering.
The interconnects and passive components market is expected to grow from USD 144.35 billion in 2016 to USD 187.55 Billion by 2022, growing at a CAGR of 4.41% between 2017 and 2022.
The growth of the interconnects and passive components market could be attributed to the increasing demand for miniaturized and high-performance electronic devices, and proliferation of automotive infotainment and consumer electronics, and increasing government support for healthcare IT solutions. The main restraints in interconnects and passive components market are the overall drop in commodity prices and declining profit margins for manufacturers. The key reasons behind these factors are aggressive competition among manufacturers, severe price erosion, and changing end-use markets.
Data processing application is expected to dominate interconnects and passive components market during the forecast period. This growth is attributed to the increased demand for data processing products, such as laptops, desktops, personal computers, servers and peripherals, in residential and commercial applications, thereby creating a huge demand for passive components and interconnects.
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