LONDON, June 21, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Integrated Passive Devices Market Report 2023, the market will grow from $1.4 billion in 2022 to $1.6 billion in 2023, at a compound annual growth rate (CAGR) of more than 10%. Further, the integrated passive device market will reach $2.3 billion by 2027, maintaining a CAGR of more than 9%. North America was the largest region in the integrated passive device market in 2022.
The growing demand for smartphones is expected to be a significant driving factor for the integrated passive devices industry. Smartphones, portable electronic devices that connect to the internet and cellular networks, rely on integrated passive devices for functionalities like GPS tracking and information recording. This rising demand for smartphones is evident in various regions.
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Major integrated passive devices companies are Infineion Technologies AG, STMicroelectronics N.V., Murata Manufacturing Co. Ltd., Johanson Technology Inc., OnChip Devices Inc., MACOM Technology Solutions, Broadcom Inc., JCET Group Co. Ltd., and Taiwan Semiconductor Manufacturing Company Limited.
A key trend observed in the integrated passive devices market is technological advancement. Key industry players are actively engaged in developing new technologies to maintain their market positions.
For instance, in September 2020, Qorvo introduced a high-performance n41 sub-Band 5G bulk acoustic wave (BAW) filter with low insertion loss, good out-of-band rejection, and a small footprint. This filter, known as the Qorvo QPQ1298, offers the necessary frequency and bandwidth for high data capacity in 5G networks across rural, suburban, and urban locations.
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The global integrated passive devices market is segmented as-
1) By Material: Silicon, Glass, Other Materials
2) By Passive Devices: Baluns, Filter, Couplers, Diplexers, Customized Integrated Passive Devices, Other Passive Devices
3) By Packaging: Wire Bonding, Single In-Line Package (SIL), Quad Flat No Lead (QFN), Chip-Scale Package, Wafer Level Package, Other Packagings
4) By Application: Electrostatic Discharge (ESD) Or Electromagnetic interference (EMI), RF Integrated Passive Device, Digital And Mixed Signals, Other Applications
5) By End-Use: Consumer Electronics, Automotive, Communication, Aerospace And Defence, Healthcare And Life Sciences
The integrated passive devices market report provides a comprehensive analysis of the global market, highlighting its current status, projected growth, and key factors driving its development. By examining the market size, trends, and major players, we have gained insights into the market's potential and the strategies employed by industry leaders. The report not only analyzes the present and future growth prospects of the integrated passive device market but also highlights its crucial role in powering the technological advancements and connectivity demands of our digital world. Its findings and insights have far-reaching implications for industry players, ensuring they stay ahead of the curve in this rapidly evolving market.
Integrated Passive Devices Global Market Report 2023 by The Business Research Company provides insights on the integrated passive devices market size, integrated passive devices market segments, integrated passive devices market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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