In the highly competitive vendor landscape of the global integrated passive devices market, companies are investing more on mergers and acquisitions with the aim of expanding their product portfolios and geographical presence, observes Transparency Market Research in a recent report. Focus on research and development activities with the aim of introducing innovative products has also substantially increased in the market.
Some of the leading companies in the market are Texas Instruments, Qorvo, Inc., Murata Manufacturing Co., Ltd, NXP semiconductors, Broadcom, On Semiconductor Corporation, Taiwan Semiconductor Manufacturing Company Limited, Johanson Technology, Inc., STMicroelectronics, MACOM, and CTS Corporation.
According to the report, the global integrated passive devices market is projected to expand at a CAGR of 10.72% during 2017 and 2025, rising to a valuation of US$1,646.6 mn by 2025.
Of the key applications of integrated passive devices, the segment of LED lighting generated a revenue of US$150 mn in 2016 and is expected to expand at the highest CAGR of 11.21% during the forecast period. This growth can be attributed to the steady rise in usage of LEDs for residential, commercial, and municipal lighting purposes owing to their cost effective nature. Additionally, LED displays are finding massive demand for use in 4-K television and smartphones display, thus fueling the global demand for LEDs.
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Geographically, the market in North America was the topmost revenue generator in 2016, followed by Asia Pacific. These regional markets are expected to maintain their positions over the forecast period over the forecast period. The Asia Pacific market is expected to expand at highest CAGR from 2017 to 2025 owing to the thriving expansion of the semiconductor and electronics industries. Furthermore, the presence of several established players in the region is anticipated to fuel the growth of the integrated passive device market in the region.
Integrated passive devices have witnessed increased adoption in the Asia Pacific region owing to the presence of large number of electronics manufacturing facilities of the established players and various domestic players in the region. Additionally, the increasing number of wireless devices and the advent of high speed internet which employ Integrated Passive Device technology for efficient and improved performance.
The widespread adoption of automation in the industries couples with the growing implantation of the Integrated Passive Device in the healthcare sectors is further expected to fuel the growth of the integrated passive device market in the region. The Asia Pacific region is anticipated to grow at a CAGR of 11.97% over the forecast period and occupy a revenue share of US$ 471.6 Mn in 2025.
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The key players profiled in the global integrated passive device market include Texas Instruments, Qorvo, Inc., Murata Manufacturing Co., Ltd, NXP semiconductors, Broadcom, On Semiconductor Corporation, Taiwan Semiconductor Manufacturing Company Limited, Johanson Technology, Inc., STMicroelectronics, MACOM, and CTS Corporation, among others.
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