DUBLIN–(BUSINESS WIRE)–The “Current Sampling Resistance Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type (Thick Film, Thin Film, and Metal Plate) and Application (Consumer Devices, Industrial, Telecommunication, Automotive, and Other Applications)” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market is expected to grow from US$ 2,145.42 million in 2021 to reach US$ 3,124.36 million by 2028; it is expected to grow at a CAGR of 5.5% from 2021 to 2028.
The use of the Internet of Things (IoT) is constantly rising. According to the New Eclipse Foundation’s IoT Commercial Adoption report, over 40% of industry executives indicate their businesses are adopting IoT solutions now, while another 22% say they expect to use IoT in the next two years. Furthermore, the poll found that IoT expenditure will rise, with 40% of companies expected to spend more on IoT solutions between 2020 and 2021. Further, government agencies are launching projects to make use of IoT technology. For example, the Indian government has implemented laws and projects such as “Digital India” and “Smart Cities” to capitalize on the benefits of IoT technology in many industries, and this growing IoT demand is unquestionably having a beneficial impact on the electronic component industry. Components are critical because they allow IoT products and applications to gather, analyze, and send real-world signals and data. The adoption of IoT creates favorable possibilities for component manufacturers. It also indicates that the component sale is likely to expand exponentially in the coming years.
The COVID-19 outbreak has severely disrupted the supply chain and manufacturing of passive components, including the hardware component of current sampling resistances. The emergence of COVID-19 virus across the globe, followed by lockdown scenarios, has led the semiconductor industry experts to analyze that the industry would face at least a quarter of lag in the electronic equipment supply chain. This disruption is expected to create tremors through till mid-2021. The electronic equipment and semiconductor industry is likely to pick up pace soon after the governments across the globe lift the various containment measures steadily in order to revive the economy. The production of the passive components in the semiconductor industry is anticipated to gain pace from 2022, which is further foreseen to positively influence the electronic and semiconductor manufacturing, including hardware components of current sampling resistors.
The current sampling resistance market is segmented based on type, application, and geography. Geographically, the market is segmented into five major regions-North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South & Central America (SCAM). Asia Pacific held the largest share of the market in 2020, followed by North America and Europe. Further, the market in Asia Pacific is projected to witness the highest growth rate during the forecast period. Based on type, the current sampling resistance market is segmented into thick film, thin film, and metal plate. The thick film segment represented the largest share of the overall market in 2020. In terms of application, the current sampling resistance market is segmented into consumer devices, industrial, telecommunication, automotive, and other applications. In 2020, the industrial segment accounted for the substantial market share.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Current Sampling Resistance market. Highlights key business priorities in order to assist companies to realign their business strategies The key findings and recommendations highlight crucial progressive industry trends in the global Current Sampling Resistance market, thereby allowing players across the value chain to develop effective long-term strategies Develop/modify business expansion plans by using substantial growth offering developed and emerging markets Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution Market Dynamics
Drivers
Growing Production of Consumer Electronics Growing Prevalence’s of Electric Cars across the Globe Restraints
Accuracy over a High Current Range Opportunities
Large Scale Commercialization of IoT and IIoT Future Trends
High density Mounting Resistors Companies Mentioned
Cyntec Co., Ltd KOA Speer Electronics, Inc. Panasonic Corporation ROHM CO., LTD Samsung Electro-Mechanics Co, Ltd. Susumu Co., Ltd. TT Electronics Viking Tech Corporation Vishay Intertechnology, Inc. Walter Electronic Co.Ltd For more information about this report visit https://www.researchandmarkets.com/r/evfoj1