NEW YORK, Aug. 25, 2021 /PRNewswire/ -- According to new research study on "Current Sampling Resistance Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Application, and Geography," the market is projected to reach US$ 3,124.36 million by 2028 from US$ 2,145.42 million in 2021; it is expected to grow at a CAGR of 5.5% during 2021-2028.
Growing Production of Consumer Electronics to boost Current Sampling Resistance Market During 2021-2028
Get in-depth details on "Current Sampling Resistance Market" (No. of Pages - 145, No. of Tables, Charts & Figures - 135)
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In recent years, the market for cellphones, 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 current sampling resistance 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.
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.
Report Coverage | Details |
Forecast Period | 2020 - 2028 |
No. of Pages | 145 |
No. of Tables, Charts & Figures | 135 |
Market Size in 2021 | 2145.42 million (USD) |
Market Size by 2028 | 3124.36 million (USD) |
Forecast Period CAGR | 5.5% |
Segments covered | Type, Application |
Country Scope | US, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
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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.
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.
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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.
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