Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) -- In recent years, the global market for cell phones, computers, and automation systems, among other electronics, has grown significantly. The increased demand for various electronic gadgets is contributing to the rapid growth of the global market. Current sampling resistors are used in a wide range of electrical equipment to protect electronic devices by blocking the flow of excessive power or voltage.
Current Sampling Resistance Market in terms of revenue was estimated to be worth $2.14542 billion in 2021 and is poised to reach $3.12436 billion by 2028, growing at a CAGR of 5.5% from 2021 to 2028 according to a new report published by The Insight Partners.
The growth in work-from-home culture is anticipated to help the rise in demand for goods that improve personal convenience at home. Rural demand may surpass the demand from urban markets because of rising rural wages and government programs connected to rural electrification. As a result of the increased consumer electronics manufacturing, demand for electronics components such as resistors and capacitors are also projected to increase, as resistors are one of the most fundamental components in any electrical or electronic circuit.
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Global Current Sampling Resistance Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 2.14542 Billion in 2021 |
| Market Size Value by | USD 3.12436 Billion by 2028 |
| Growth rate | CAGR of 5.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| Segments covered | By Type, Application, and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
Asia Pacific is expected to lead the current sampling resistors market during the forecast period due to the presence of key electronic resistor manufacturers such as Panasonic Corporation and Samsung Electro-Mechanics Co., Ltd in the region. Moreover, the growing demand of consumer electronics and strong industrial base in countries such as China, Japan, and South Korea are other factors fueling the market growth in the region.
The COVID-19 pandemic has compelled governments to impose several limitations on industrial, commercial, and public activities to control the spread of infection. Hence, the demand for passive components has steadily declined due to the suspension of operations in various industries, shuttering of production units, and people's unwillingness to enter work on the floor. Therefore, the epidemic and its repercussions have slowed down the current sampling resistance market growth.
Large-Scale Commercialization of IoT and IIoT Propels Current Sampling Resistance Market Growth
The Internet of Things (IoT) and Industrial Internet of Things (IIoT) implementation are gaining rapid pace worldwide. According to the IoT Commercial Adoption report by the New Eclipse Foundation, over 40% of industry executives have stated their businesses are adopting IoT solutions, while another 22% say they are expecting its adoption in the next two years. Furthermore, the poll found that IoT expenditure would rise, with 40% of companies expected to spend more on IoT solutions during 2020–2021. Further, government agencies are launching projects to promote the adoption of IoT. For example, the Indian government has taken initiatives such as "Digital India" and "Smart Cities" to capitalize on the benefits of IoT technology in many industries, which is bolstering the demand for various electronic components. Many components are critical as they allow IoT products and applications to gather, analyze, and send real-world signals and data.
Current Sampling Resistance market: Application Overview
Based on application, the current sampling resistance market is segmented into consumer devices, industrial, telecommunications, automotive, and other applications. The industrial segment held the largest market share in 2020. Resistors are used to dampen undesired electrical impulses in inverters, power tools, robotic systems, and motors, among others. Although resistance dissipates energy, resistors are critical to the correct operation of industrial electronics devices. They guarantee that other components are not exposed to excessive voltage or current. Further, resistors are also used in industrial equipment such as heaters and boilers to convert current into heat with the heat lost from the resistor being used to warm the surrounding environment. Filaments in incandescent light bulbs also functions as a resistor, slowing the current and heating a wire to a temperature high enough to produce light.
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Current Sampling Resistance Market: Competitive Landscape and Key Developments
Cyntec Co., Ltd.; KOA Speer Electronics, Inc.; Panasonic Corporation; ROHM CO., LTD.; Samsung Electro-Mechanics Co., Ltd.; SUSUMU CO., LTD.; TT Electronics; Viking Tech Corporation; Vishay Intertechnology, Inc.; and Walter Electronic Co.,Ltd are among the key players in the current sampling resistance market. The leading companies are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
Current Sampling Resistance Market – Key Market Dynamics
Drivers
- Growing Production of Consumer Electronics
- Growing Prevalence’s of Electric Cars across the Globe
Restraints
- Accuracy over a High Current Range
Opportunities
- Large Scale Commercialization of IoT and IIoT
Future Trends
- High density Mounting Resistors
Recent Developments:
In 2021, Susumu was listed on the 2021 Solution Provider TOP10 (electronics manufacturers) in the US. Its ultraprecision, thin-film chip resistors produced using the thin-film technology make allow the electronic equipment manufacturers to produce high-quality and high-performance products.
In 2020, ROHM announced the GMR50 series of compact (5.0 mm × 2.5 mm) shunt resistors, capable of delivering 4W-rated power (at electrode temperature TK=90°C). These resistors are ideal for current detection in motors and power supply circuits that are used in automotive systems and industrial equipment.
Go through further research published by The Insight Partners:
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Welding Consumables Market - Global Analysis and Forecast to 2028.
Welding Equipment Market - Global Analysis and Forecast to 2028.
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