How Big Is the Electronic Components Market | Forecast & Insights 2031

Code: MTA6201 Publication Date: Jul 2025

How Big Is the Electronic Components Market?

According to 6Wresearch internal database and industry insights, the Global Electronic Components Market was valued at USD 505 Billion in 2024 and is expected to reach USD 780 Billion by 2031, growing at a compound annual growth rate of 6.30% during the forecast period (2025-2031).

This growth is being driven by the surging demand for consumer electronics, increasing adoption of IoT devices, expansion of electric and autonomous vehicles, and innovations in industrial automation and smart manufacturing globally.

Growth Factors of the Electronic Components Market

  • Rapid digitization and integration of smart systems across consumer devices.
  • Expansion of 5G networks and connected infrastructure requiring advanced RF components.
  • Rising production of EVs and ADAS systems demanding sensors, microcontrollers, and PCBs.
  • Growth in industrial robotics and smart factories boosting component demand.
  • Semiconductor innovation and chip miniaturization enabling multifunctional devices.
  • Strong demand from aerospace, defense, and telecom sectors for durable and high-precision components.

Electronic Components Market Trends

Electronic Components Market is undergoing rapid transformation due to the rising convergence of AI, machine learning, and hardware miniaturization. Trends such as chiplets, advanced packaging technologies, and demand for ruggedized components for harsh environments are shaping the future of the industry.

The move toward sustainability has also prompted the development of components that consume less power and are easier to recycle or reuse. Additionally, the geopolitical push for semiconductor independence is fueling regional manufacturing expansions.

Emerging Developments in the Electronic Components Market

Emerging developments include the rise of gallium nitride and silicon carbide (SiC) components in power electronics, the expansion of open-source hardware ecosystems, and the growth of embedded systems in wearable technology. Companies are increasingly investing in edge computing chips and application-specific integrated circuits (ASICs) to cater to niche, high-performance needs.

Leading Companies in the Electronic Components Industry

  • STMicroelectronics
  • Analog Devices Inc.
  • NXP Semiconductors
  • Murata Manufacturing Co., Ltd.
  • TDK Corporation
  • Texas Instruments
  • Infineon Technologies AG

How Big Is the Electronic Components Market : FAQ's

The electronic components market is primarily driven by rising EV production and a surge in industrial IoT applications.
Consumer electronics, automotive, and industrial automation sectors account for the highest demand globally.
Key companies include STMicroelectronics, Analog Devices Inc., NXP Semiconductors, TDK Corporation, Texas Instruments, and others.
The electronic components market is expected to reach USD 780 Billion by 2031
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
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