EMEA Passive Electronic Components Market: By Product Type (Capacitors, Resistors, and Inductors), By Material Type (Ceramic, Aluminum, Tantalum, and Others), By End Users (Consumer, Electronics, Automotive, Healthcare, Telecommunications, Aerospace, Defense, and Others) and Country

EMEA passive electronic components market held considerable growth during the estimated period. The passive electronic components market's growth is projected to enhance due to the rising demand for electronics. The main factor enhancing the need for inductors is the rising demand for consumer electronics such as tablets, smartphones, laptops, set-top boxes, and portable gaming consoles.

However, the growth of the inductors is presently stable due to the increase in many product launches, innovations in the consumer electronic sector, increasing use of inductors in Electronics and automotive, and the adoption of smart grid. Over the past few years, features like voice-enabled smart devices have also been witnessing increased adoption. The adoption of Amazon Echo, Google Home, and Sonos, was projected to be aggressive by the end of 2023. The heavy demand for modern electronic devices requires components like high-frequency capacitors and inductors. These opportunities are caught by the manufacturers by investing in research and development to create innovative materials and technologies that satisfy the evolving needs of the market.

EMEA Passive Electronic Components Market Key Developments:

• In April 2021, SCHURTER launched DKIV-1 series, a current compensated choke intended for 1-phase high-current application on circuit boards. This choke is compact and lightweight. The product portfolio of the company can be increased by the new product and leave its footprint in the market.
• In November 2020, NXP Semiconductors and Amazon Web Services (AWS) has collaborated to extend their opportunities for connected vehicles. The company will deliver a secure, edge-to-cloud compute solution for its next-generation vehicles, with this collaboration. Hence the company can accelerate its digital transformation initiative and expand its customer base.