Integrated Passive Device Market - Global Size, Share, Trends, Growth and Forecast Year ( 2023 – 2032 )
Integrated Passive Device Definition
An Integrated Passive Device (IPD) is a microelectronic component. This device combines a few elements, including resistors, capacitors, and inductors. These elements, when combined, make a single integrated circuit. Integrated passive devices have several advantages. These advantages include small-size devices, higher reliability, higher performance, and easier integration into the circuit design.
Integrated Passive Devices are used in various applications. These applications include mobile phones, laptops, and tablets. These devices are also used in automotive, healthcare, and industrial systems.
Integrated Passive Device Market Size and Share Overview
The market size for the integrated passive device market was USD 1.5 billion in the year 2022. It is expected that the market size for passive devices will increase by approximately USD 4.2 billion by 2032 as the market for integrated passive devices is continuously growing at a compound annual growth rate (CAGR) of 10.9% during the forecast period. The market for integrated passive devices is growing significantly. The demand for compact and more efficient electronic devices is increasing day by day.
The market is expected to grow in the upcoming years. The factors on which, the market is driving are the proliferation of IoT devices and the increasing demand for energy-efficient electronic systems. Key players in the IPD market include Murata Manufacturing, Taiyo Yuden, and Samsung Electro-Mechanics, among others.
Integrated Passive Device Market Report Scope
USD 1.5 billion
USD 4.2 billion
10.9% from 2023 to 2032
Integrated Passive Device Market Key Drivers
There are various factors which help in the growth of the integrated passive device market. They are as follows:
- Increasing demand for smaller, more efficient electronic devices: There is an increased demand for compact and more efficient electronic devices as they are easy to carry. These compact devices need less space and consume less power in comparison to normal devices. Integrated passive devices offer these qualities as they are small in size and give efficient solutions.
- The proliferation of IoT devices: There is an increasing demand for Internet of Things devices these days. This growing demand leads to drive the demand for integrated passive devices. This is because these Internet of Things devices require passive components, including resistors and capacitors.
- Increasing demand for energy-efficient electronic systems: There is a high demand for energy-efficient electronic systems nowadays. These energy-efficient systems focus on reducing energy consumption and carbon emissions. An integrated passive device reduces power consumption. This helps in making the system more efficient.
- Advances in manufacturing technology: The production of integrated passive devices is improving with advancements in technologies. Due to this, the devices are performing better, and there is a higher level of integration. This is further increasing the demand for integrated passive devices in various applications.
- Growing adoption of 5G technology: The advancements in technology, such as the introduction of 5G networks, need passive components to support their higher frequencies and data rates. This is increasing the growth of passive devices in the market.
Integrated Passive Device Market Challenges
There are many challenges which are faced by integrated passive devices market. They are listed below:
- Intense competition: There are a large of players in the market for integrated passive devices who are fighting for market share. This shows that the market for IPDs is highly competitive. Due to this competition, it is very difficult to differentiate the products and maintain profitability for the companies.
- Complex supply chain: Some multiple suppliers and manufacturers are involved in the production process of integrated passive devices. This makes the supply chain very complex. Due to this, it is very difficult for the manufacturers to maintain the quality with cost-efficient devices. This acts as a barrier to the market of integrated passive devices.
- Price pressure: The companies of integrated passive devices compete in the market to offer the lowest price possible. This makes pressure on prices in the market. Due to this, it is very difficult for companies to take out the margins for investing in research and development.
- Technological challenges: There is the use of advanced technology in the production process of integrated passive devices. It can be technically challenging for these devices. It may lead to higher costs of production for IPDs. This may also lead to delays in the manufacturing process and the development of new products.
- Regulatory challenges: There are several rules and regulations which have to be followed for IPDs. This includes safety measures and environmental regulations. Working with these regulations can be time-consuming and may incur a higher cost. This may have an impact on the profitability of IPD manufacturers.
Integrated Passive Device Market Regional Synopsis
The Integrated Passive Device (IPD) market is a worldwide market. It has its manufacturers and suppliers located all over the world.
- Asia Pacific: China, Japan, and South Korea markets are the significant market in this region. The Asia-Pacific market is strong as it has a high demand for electronic devices. Moreover, the presence of several integrated passive device manufacturers drives the market. Japan is a significant market for integrated passive devices (IPDs), with several major manufacturers based in the country. Japan is home to leading IPD companies such as Murata Manufacturing and Taiyo Yuden, which have a strong presence in the global IPD market.
- North America: The North American region is considered to have significant growth during the forecast period. The leading markets in this region are Canada and the United States. Semiconductor industries are dominating the market. Hence, there has been seen rapid growth in the region.
- Europe: There is a rapid growth of technology in this region. Due to this rapid growth, the European market is growing in a fast-paced environment. The United Kingdom, France, and Germany are the countries that have a high demand for integrated passive devices. This contributes to the growth of the market in this region.
- Latin America: In this region, there will be moderate growth, as predicted during the forecast period.
- Middle East: The Middle East market is also growing moderately for integrated passive devices.
Overall, the worldwide IPD market is expected to see strong growth in the upcoming years. The market will be driven by factors, including the increasing demand for smaller, more efficient electronic devices, the proliferation of IoT devices, and the growing adoption of 5G technologies.
Integrated Passive Device Market Segmentation
The DMMs market is segmented into various categories which are listed below:
- By product type: Resistors, Capacitors, and Inductors.
- By application: PFID tags, smart cards, and Wireless charging pads.
- By end-user industries: Consumer Electronics, Automotive, Healthcare, and Industrial systems.
- By geography: Asia-Pacific, Europe, North America, Latin America, and the Middle East.
- By technology: Thick film, Thin film, and Printed Circuit Board (PSB) technology.
Integrated Passive Device Market Key Players
- Murata Manufacturing
- Taiyo Yuden
- Samsung Electro-Mechanics
- AVX Corporation
- Wurth Electronics
- Johanson Technology
- Infineon Technologies
- STATS ChipPAC Ltd
- Micron Technology
- Global Communication Semiconductors