Integrated Passive Device refers to the passive components including resistors, capacitors, and inductors, among others which are arranged in various combinations depending upon their applications. With the help of Integrated Passive Device various functional blocks can be realized which includes filters, RF filters, converters, couplers, diplexers, among others. Filters are predominantly used in wireless applications where there is high interference from the radiation caused due to stray magnetic field and that created by the other devices in the environment. Filters help in eliminating the stray fields and allow only those waves which are required to pass through them. With the use of Integrated Passive Devices, it is possible to reduce the size of the circuit by approximately seventy percent which results in cost saving while ensuring increased performance along with a compact design of the electronic device.
According to the report, the global integrated passive devices market is projected to expand at a CAGR of 10.72% during 2017 and 2025.
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Consumer Electronics Emerges as Leading End-use Segment
Based on the End-User, the market has been divided into automotive, consumer electronics, healthcare and others. In 2016, the consumer electronics segment was the topmost revenue generating segment owing to the increased implementation of the Integrated Passive Devices in electronic devices which are becoming compact in size. Furthermore, the automotive segment is also expected to witness a healthy growth owing to the large scale adoption of electronics in the automobiles for infotainment, battery management system, driver assistance systems, and GPS among others. The consumer electronics segment is expected to grow at CAGR of 10.80 % over the forecast period from 2017 to 2025.
LED Lighting Segment to Remain Prominent Application Segment
Based on the application, the market has been segmented into EMI/RFI filtering, RF Integrated Passive Device, LED lighting and others. In 2016, the LED lighting segment generated a revenue of US$ 150.1 Mn and is expected to grow at the highest CAGR of 11.21%. This growth can be attributed to the increasing use of LEDs for residential, commercial and municipal lighting which is found to be cost effective in the long run. Additionally, there is also a bolstering growth in the use of LEDs for display in 4-K television and smartphones display that is fuelling the growth of LEDs.
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Asia Pacific to Remain Highly Promising Regional Market
Integrated passive devices have witnessed increased adoption in the Asia Pacific region owing to the presence of large number of electronics manufacturing facilities of the established players and various domestic players in the region. Additionally, the increasing number of wireless devices and the advent of high speed internet which employ Integrated Passive Device technology for efficient and improved performance. The widespread adoption of automation in the industries couples with the growing implantation of the Integrated Passive Device in the healthcare sectors is further expected to fuel the growth of the integrated passive device market in the region. The Asia Pacific region is anticipated to grow at a CAGR of 11.97% over the forecast period and occupy a revenue share of US$ 471.6 Mn in 2025.
The key players profiled in the global integrated passive device market include Texas Instruments, Qorvo, Inc., Murata Manufacturing Co., Ltd, NXP semiconductors, Broadcom, On Semiconductor Corporation, Taiwan Semiconductor Manufacturing Company Limited, Johanson Technology, Inc., STMicroelectronics, MACOM, and CTS Corporation, among others.
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