Asia Pacific chip resistor market is projected to witness high growth owing to the ongoing development & expansion of the consumer electronics manufacturing sector coupled with strong economic growth of the region. Rise in the adoption of electronic vehicles in the region will increase the demand for these ICs in the coming years. According to the IEA, the number of new electric vehicles sales across China was estimated at around 1.2 million in 2018. With such rapid development of electric and hybrid vehicles, the demand for effective resistors with high leakage detection property is expected to grow.
Technological advancements in the healthcare industry are encouraging companies to implement modern solutions, such as Electronic Medical Data (EMR) technology and headend satellite TV systems, fueling the growth of the chip resistor market. The introduction of surface-mount resistors is helping healthcare professionals to have accurate and stable instrumentation and precise reading without error. The resistors are highly adopted in Magnetic-Resonance (MRI) and Computer Tomography (CT) equipment as they provide high-reliability and wide resistance range between 10 Ω to 22 MΩ. Several companies are offering a series of ICs designed for the medical sector.
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Thin film resistors account for a majority of the chip resistor market share. The increasing demand for compact size and high resistance power resistor for improving performance at low cost is accelerating the demand for these devices. Thin film resistors offer lower tolerances, noise, parasitic inductance, and resistor temperature coefficients and provide stability at much higher frequencies compared to thick film resistors. Moreover, due to their highly resistive material and small size of 0.1 micrometre, they are highly adopted in automotive, telecommunication, audio, precision controls, and instrumentation industrial applications, driving the industry growth.
High manufacturing costs associated with the device is a major challenge affecting the growth of the chip resistor market. The production of electronic components requires mining and processing of certain raw materials, such as metal and ceramic, which need to be mined and processed into usable forms, resulting in increased reliability on labors for the efficient production process.
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Growth in data center facilities owing to increasing digitalization is driving the Chip Resistor Market. The rising need for cloud storage and the adoption of online and mobile computing services with the growing usage of social media have led to a rise in the number of data centers globally. These data centers are exposed to harsh environments that have higher percentages of potentially corrosive gases, which can corrode silver terminals in sensitive electronic components. To prevent corrosion and provide superior resistance against sulfur-containing environments, the demand for ICs is increasing. Moreover, these resistors allow a smooth transmission of data, resulting in improved system performance, reliability, robustness, and reduction of downtime. Growth in the data center infrastructure market is expected to drive the chip resistor market over the coming years.
Methodology used in the Chip Resistor Market Report –
Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the chip resistor market
- Demographics and statistical data
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