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Thin film chip resistors market is projected to grow by USD 629.45 million with a CAGR of 6.61% during the forecast period 2021 to 2026.
This thin film chip resistors market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers thin film chip resistors market segmentation by end-user (industrial equipment, consumer electronics, and others) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The thin film chip resistors market report also offers information on several market vendors, including ASJ Pte Ltd., Bourns Inc., Cal Chip Electronics Inc., Hong Kong Resistors Manufactory, International Manufacturing Services Inc., KOA Speer Electronics Inc., Micro Ohm Corp., Mini Systems Inc., Ohmite Manufacturing Co., OnChip Devices Inc., Panasonic Corp, SRT Resistor Technology GmbH, State of the Art Inc., Susumu Co. Ltd., Synton Tech Corp., TE Connectivity Ltd., TT Electronics Plc, Viking Tech Corp., Vishay Intertechnology Inc., and Yageo Corp. among others.
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The growth of data center infrastructure is notably driving the thin film chip resistors market growth, although factors such as changing consumer preferences may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the thin film chip resistors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Thin Film Chip Resistors Market Driver
The growth of data center infrastructure is one of the key factors driving the thin film chip resistors market growth. Many enterprises, such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform, are moving their data to the cloud with the help of cloud service providers. The rising adoption of digitalization has considerably increased the volume of data generated and processed by enterprises. Companies are adopting data centers and powerful networking technologies to access the data stored in data centers and the data obtained from connected devices. Hence, the growth of data center infrastructure is expected to drive the growth of the market during the forecast period.
Key Thin Film Chip Resistors Market Trend
Shifting focus toward lead-free components is one of the key thin film chip resistors market trends fueling the market growth. Market players are focusing on the use of lead-free, passive electronic components due to the harmful nature of lead. The governments of some countries are emphasizing the manufacturing of eco-friendly electronics and electronic components. As a result, vendors have developed lead-free chip resistors, which do not harm the environment. This makes the resistors suitable for use in consumer electronics as well as defense and aerospace applications. This, in turn, will fuel the market growth in the forecasted period.
Key Thin Film Chip Resistors Market Challenge
Varying consumer preferences is one of the key factors challenging the thin film chip resistors market growth. The semiconductor and IC manufacturing industry involves the manufacturing of a wide range of components, such as capacitors, chip resistors, and microprocessors, which are extensively used in electronic devices. Several advances in the consumer electronics industry have given rise to the need for wireless semiconductors, especially products such as high-performance smartphones and tablets with new operating systems. Manufacturers' attempt to satisfy the market demand leads to an increase in inventory turnover, which decreases profitability. Thus, the dynamic nature of industry demand and changing consumer preference pose a major challenge to the market.
This thin film chip resistors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global thin film chip resistors market as a part of the global semiconductor market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the thin film chip resistors market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the thin film chip resistors market encompasses successful business strategies deployed by the key vendors. The thin film chip resistors market is fragmented, and the vendors are deploying growth strategies such as investing in R&D and product development activities to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and the information on production and sustainability along with this report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of thin film chip resistors market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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32% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for thin film chip resistors in North America. Market growth in this region will be slower than the growth of the market in APAC and South America.
The presence of several machines and automotive manufacturers will facilitate the thin film chip resistors market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 negatively impacted the growth of the regional market. However, the reopening of various businesses due to vaccination drives conducted in the region led to the lifting of lockdowns from 2021 onward. Thus, the regional market is expected to regain momentum during the forecast period.
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The thin film chip resistors market share growth in the industrial equipment segment will be significant during the forecast period. The industrial equipment segment covers the use of thin film chip resistors in industrial and medical equipment, test and measuring equipment, telecommunication, power system, computing servers, and outdoor electronic applications. Moreover, the growth of the industrial equipment end-user segment is primarily attributed to the rising demand for automation and the adoption of Industry 4.0.
This report provides an accurate prediction of the contribution of all the segments to the growth of the thin film chip resistors market size and actionable market insights on the post-COVID-19 impact on each segment.
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Thin Film Chip Resistors Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.61% |
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Market growth 2022-2026 |
$629.45 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.03 |
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Regional analysis |
North America, APAC, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
North America at 32% |
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Key consumer countries |
US, Canada, China, Japan, India, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
ASJ Pte Ltd., Bourns Inc., Cal Chip Electronics Inc., Hong Kong Resistors Manufactory, International Manufacturing Services Inc., KOA Speer Electronics Inc., Micro Ohm Corp., Mini Systems Inc., Ohmite Manufacturing Co., OnChip Devices Inc., Panasonic Corp, SRT Resistor Technology GmbH, State of the Art Inc., Susumu Co. Ltd., Synton Tech Corp., TE Connectivity Ltd., TT Electronics Plc, Viking Tech Corp., Vishay Intertechnology Inc., and Yageo Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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