Albany, NY -- (SBWIRE) -- 04/26/2016 -- In a new report presented by Transparency Market Research, insights into the usability of passive components in electronic circuits are presented at length. The report presents answers to many questions about the passive and interconnecting electronic components market. Complete analysis of the progression of the global passive and interconnecting electronic components market for the 2013-2023 period is presented in the report, titled "Passive and Interconnecting Electronic Components Market - Global Industry Analysis, Market Share, Drivers, Restraints, Growth and Forecast, 2013 – 2023."

Electronic components are vital elements of an electronic circuit and are used for several reasons such as to control the flow of electrons, to interconnect parts in the circuitry, etc. Passive electronic components do not require power to be functional. Interconnecting electronic components are used to connect various elements and integrate them into the assembly. With the rising demand for multichip modules in electronic circuits, the need for passive and interconnecting electronic components will surge in the coming years.

Innovations and technological advances in electronic devices, of which passive components are an integral part are favoring growth of the passive and interconnecting electronic components market. This, along with the consistently increasing sales of electronics such as digital cameras, gaming consoles, portable music players, and laptops, will lead to strong growth of the market. Hi-tech electronic devices such as global positioning systems (GPS) are installed in automobiles for navigation, which is fueling demand for passive components for automotive electronics. Advancement in medical devices that have hi-tech electronic circuitry and extensive development in telecommunication systems that operate on the transmission of electronic signals have fueled the market. With rapid growth of these industry segments, the passive and interconnecting electronics components market will display robust growth until the end of the forecast period.

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Currently, Asia Pacific is the largest market for these components. Over the forecast period, the region is expected to continue its lead position owing to growth of the telecom, healthcare, consumer electronics, and information technology verticals. The transition from the currently used 3G and 4G wireless networks to speedier and higher-bandwidth networks such as 4G LTE and 5G will positively impact this market. With the Internet becoming an integral part of everyday functioning, the demand for electronic devices and their ancillary components will rise.

Top players that operate in the global passive and interconnecting electronic components market are AB Connectors Limited, API Electronics Inc., Cisco Systems Inc., EDAC Inc., Hosiden Corp., Panasonic Electronic Devices Co. Ltd., Yageo Corporation, American Electronic Components, AVX Corporation, Delphi Connection Systems, Fujitsu Component Limited, Hirose Electric Co. Ltd., and Philips Electronics NV, among others.

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