Demand for passive components is recovering as the global economy shows signs of improvement. According to industry sources, demand for passive components in the first quarter of 2023 was up 10% year-on-year, with the strongest growth seen in the automotive and industrial sectors.
The recovery in demand for passive components is being driven by a number of factors, including the easing of supply chain constraints, the continued growth of the global economy, and the increasing adoption of new technologies such as 5G and electric vehicles.
The easing of supply chain constraints is having a positive impact on the availability of passive components, which has led to lower prices and improved delivery times. The continued growth of the global economy is also boosting demand for passive components, as businesses invest in new equipment and infrastructure.
The increasing adoption of new technologies such as 5G and electric vehicles is also driving demand for passive components. 5G requires more passive components than previous generations of cellular networks, while electric vehicles use more passive components than traditional gasoline-powered vehicles.
The recovery in demand for passive components is positive news for the industry, as it will help to offset the losses that were incurred during the pandemic. The industry is expected to continue to grow in the coming years, as the global economy continues to expand and new technologies are adopted.
To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.
For more help with looking at supply chain options, contact Astute Electronics