Through-hole Passive Components Market Size

Through-hole Passive Components Market size is predicted to reach USD 85 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of through-hole passive components was over USD 38 Billion. The proliferation of electronic devices in recent years has been remarkable, and its impact on various industries has been nothing short of transformational.

The automotive, consumer electronics, telecommunications, and healthcare sectors, in particular, have seen significant growth due to the increasing use of electronic devices. According to analysts at Research Nester, the number of global smartphone users is expected to increase by 2.2% annually, reaching 4.74 billion by 2024. These devices frequently incorporate through-hole passive components such as resistors, capacitors, and inductors, which has resulted in a surge in demand for these components. Overall, the trend toward electronic devices is expected to continue, and the need for passive components is projected to remain strong in the foreseeable future.

Further, the ever-evolving technological landscape demands components that offer higher performance, reliability, and miniaturization. Through-hole passive components have adapted to these requirements, offering improved specifications and capabilities to meet the demands of cutting-edge technologies like IoT, 5G, and AI. According to a recent survey, 66% of organizations are planning to deploy 5G technology in the year 2020.

Moreover, 59% of these organizations will be using IoT (Internet of Things) communications as a part of their 5G use case. It has also been estimated that the number of IoT devices will increase from 27 billion in 2017 to 73 billion by the year 2025. All of these factors will result in a significant increase in data volume and create new opportunities for market growth.