Passive & Interconnecting Electronic Components Market Worth $257.3 Billion By 2027

The global passive and interconnecting electronic components market size is estimated to reach USD 257.3 billion by 2027, registering a CAGR of 5.3% from 2020 to 2027, according to a new study by Grand View Research, Inc. Electronic components play an essential role in several verticals, including IT and telecommunication, consumer electronics, automotive, aerospace and defense, and healthcare. These components form an indispensable part of an electronic system and helps it to function automatically. Moreover, the rapidly surging demand for consumer electronic goods and household appliances such as smartphones, laptops, digital cameras, and air conditioners is expected to fuel market growth over the forthcoming years.

The rising need for enhanced data speed among consumers, businesses, and industries has enabled key telecom operators such as AT&T Inc., Verizon Communications, China Mobile Limited, and KT Corp. to install 5G network infrastructure in order to deliver seamless connectivity to their customers. With a significant surge in demand for telecom equipment and network devices to build 5G network infrastructure, it is anticipated to augment the adoption of passive and interconnecting electronic components during the forecast period. Moreover, rapidly building data centers across worldwide has stimulated the demand for network devices. As a result, it is expected to boost market growth from 2020 to 2027.

The rapidly evolving technologies such as robotics and sensors-based systems for industrial applications to improve the overall productivity and operational efficiencies is further estimated to augment the demand for passive and interconnecting components. Furthermore, wearables such as smartwatches, virtual reality (VR) headsets, and fitness bands are gaining popularity among consumers. Also, consumers are spending a massive amount on their health and entertainment. As a result, it has accelerated the demand for aforementioned wearable devices among consumers. This, in turn, is anticipated to surge the adoption of passive and interconnecting electronic components from 2020 to 2027. Additionally, voluminous patient data, coupled with investments made by the governments and private players worldwide for establishing state-of-the-art healthcare facilities, has augmented the adoption of high-tech medical equipment and connected devices. As a result, the demand for passive and interconnecting electronic components is expected to surge globally over the forecast period.

Furthermore, the Covid-19 outbreak has affected the production and trade (imports and exports) in many countries across the globe, therefore, it is anticipated to restrict market growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/passive-interconnecting-electronic-components-industry

Further key findings from the report suggest:

In India, the market is expected to exhibit a CAGR of 8.3% from 2020 to 2027, owing to the soaring capital spending by key electronic goods and home appliances manufacturers in view of setting up their manufacturing facilities in the country
The capacitors segment attained the highest market size, approximately USD 30.0 billion in 2019. The significant market size is attributed to the robust rise in the demand for several types of capacitors to be fabricated in numerous electronic devices such as vehicle automation systems, robotics, and consumer electronic devices
Significantly growing deployment of 5G network infrastructure coupled with surging adoption of network devices for data centers is estimated to boost the IT and telecommunication segment during the forecast period
The connectors/sockets segment is anticipated to showcase a considerable growth from 2020 to 2027, owing to its proliferating demand across various applications, including data processing, infotainment, and automation
Various prominent players in the market are strategically focusing on introducing new products to intensify their market share and expand their product portfolios.

Remote Sensing Technology Market Size Worth $29.61 Billion By 2027

The global remote sensing technology market size is expected to reach USD 29.61 billion by 2027, expanding at a CAGR of 11.6% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Remote sensing technology is used to detect and monitor land and weather characteristics by measuring the reflected sunlight and emitted radiation from a satellite or an aircraft. Cameras fitted on the satellite and the aircraft to collect the remotely sensed images, which help organizations observe and analyze the land and forecast weather accordingly. The market is primarily driven by rising investments in earth observation projects. For instance, in August 2020, Indian earth observation startup Pixxel announced it raised investments worth USD 5 million for a constellation of Earth observation satellites.

The growing adoption of precision farming is expected to augment the market growth over the forecast period. The technology is used to identify crop conditions, determine the soil content such as moisture, and estimate the crop production. The health of crops is determined using remote sensing technology to reduce fertilizer usage, which reduces additional costs incurred by farmers. Moreover, the COVID-19 pandemic outbreak has led to the demand for remote sensing technology to monitor and curb the spread of the virus. The technology also helps to keep track of population concentration, determine mobility patterns, and document environmental changes.

The market comprises a high degree of competition due to the presence of numerous companies operating at the global level. These companies are focusing on enhancing their product portfolio to maintain and increase their market share. For instance, in October 2019, Hexagon AB announced the launch of its Power Portfolio which includes the latest version of remote sensing, Geographic Information System (GIS), and cartography products. The new versions have machine learning capabilities that help users address big data management issues.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/remote-sensing-technologies-market

Further key findings from the report suggest:

The passive remote sensing segment is anticipated to expand at the fastest CAGR exceeding 8% over the forecast period owing to the rising adoption of passive sensor technology in earth observation satellites
The military and intelligence segment held the largest market share of 32.25% in 2019. This share is attributed to the increasing usage of remote sensing technology for surveillance applications
The aerial systems segment is projected to expand at the fastest CAGR of over 8% during the forecast period due to the growing usage of UAVs for research and exploration applications
North America held the highest market share of 38.12% in 2019. This share is due to the increasing adoption of remote sensing technology in the U.S. for precision farming applications

Electric Vehicle Battery Thermal Management Systems Market Worth $12.1 Billion By 2027

The global electric vehicle battery thermal management systems market size is expected to reach USD 12.1 billion by 2027, registering a CAGR of 28.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. Thermal management systems are used in electric vehicles (EVs) for maintaining the heating temperature of the batteries used in these vehicles. These batteries provide power to the motors for the traction of the vehicle and therefore, the vehicle movement is entirely dependent on battery health. Hence, the need to control the battery heat becomes critical for the seamless operation of EVs.

Stringent government regulations have been observed in various nations for controlling the carbon emissions from the vehicles. Also, governments are taking initiatives to boost the adoption of EVs. For instance, the Chinese government has waived off the purchase taxes on EVs till 2020. In addition, most of the countries are planning for a complete transformation from Internal Combustion Engine (ICE) vehicles to battery EVs. As a result, the sales of new and more efficient EVs have increased. This trend is expected to fuel the growth of the overall market in the coming years.

Automobile manufacturers across the globe are increasingly investing in R&D to develop new methods and systems for maintaining & controlling the battery temperatures. For instance, in 2019, Robert Bosch GmbH announced a cloud-connected software service for battery management, which is capable of monitoring and managing the electric battery remotely. Such innovations and developments are projected to bolster the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/electric-vehicle-battery-thermal-management-systems-market

Further key findings from the study suggest:

The passive segment held the largest revenue share of over 78% in 2019. This growth was credited to the benefits offered by these systems including low cost and ease of installation in the vehicle
The active segment is expected to register the highest CAGR from 2020 to 2027 owing to the benefits of these products, such as enhanced efficiency and improved battery life
Passenger vehicles segment accounted for the majority share in 2019 primarily owing to the high penetration of EVs in this segment
The commercial segment is expected to expand at steady a CAGR over the forecast period due to the increasing demand for battery-powered buses and lightweight trucks
Asia Pacific is expected to be the largest as well as fastest-growing regional market from 2020 to 2027 owing to the highest production and adoption of EVs in the region

Harmonic Filters Market Size Worth $1.28 Billion By 2025

The global harmonic filters market size is estimated to reach USD 1.28 Billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 7.1% during the forecast period. Harmonic filters are an integral part of electric power systems that are used for mitigation of harmonics, an effect produced due to non-linear loads. Significant investments in building renewable energy infrastructure worldwide coupled with the rapid adoption of variable frequency drives (VFDs) for industrial applications such as heating, ventilation, and air conditioning (HVAC) and electric motors are anticipated to boost the growth of the market.

Harmonic filter is an essential component integrated into power converters and inverters, UPS systems, and other commercial applications such as data centers, hospitals, and offices to enhance power quality in these systems. The global demand for the product is projected to rise tremendously by 2030 on account of increasing investments by governments in the deployment of renewable energy infrastructure (wind energy and solar energy).

For instance, China invested approximately USD 126 Billion on renewable energy infrastructure in 2017. Harmonic resonance is a key concern during the set-up of large solar and wind power plants. Harmonic filters are installed during the deployment of renewable energy infrastructure for the purpose of mitigating harmonic disturbances and power losses.

Additionally, key market players are focusing on developing new innovative products for the rapidly growing e-mobility market across the world. For instance, in 2017, Schaffner Holding AG introduced a new lightweight active harmonic filter for electric vehicles with the objective of delivering high performance and reducing power losses even at a high frequency. Moreover, the strong adoption of harmonic filters in the manufacturing and consumer electronics industry coupled with significant renewable energy investments enabled the Asia Pacific regional market to gain a substantial share in 2017.

Increasing investments aimed at the construction of new data centers and renewable energy infrastructure in key countries such as the U.S., China, India, and the U.K. are poised to drive the market over the forecast period. Despite all these benefits, lack of product awareness among small and medium-sized manufacturers coupled with significant availability of substitute products is likely to inhibit the growth of the global harmonic filters market over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/harmonic-filter-market

Further key findings from the report suggest:

In 2017, Asia Pacific represented the leading share in the market, owing to the high adoption of VFDs in the manufacturing industry, data centers, and the energy & power sectors
Europe is expected to reflect the highest growth during the forecast period on account of increasing investments in the deployment of renewable energy infrastructure along with burgeoning demand for harmonic filters from the automotive industry, specifically for their use in electric vehicles
Significant investments in R&D initiatives to develop new and innovative harmonic filters with the objective of reducing the overall input voltage and enhancing product performance is estimated to stimulate the growth of the market
Investments aimed at building new data centers to meet the needs of business enterprises are anticipated to stir up the adoption of harmonic filters over the forecast period.