Global Chip Resistor Market Anticipated to Generate a Revenue of $3,330.3 Million and Grow at a CAGR of 6.9% during the Anal
The global chip resistor market is predicted to witness prominent growth during the analysis period, owing to the increasing demand for electronic devices among individuals all across the globe. Based on technology, the thick film chip resistor sub-segment is predicted to be the most productive. Regionally, the Asia-Pacific region is expected to hold the largest share of the market.
New York, USA, Oct. 04, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global chip resistor market is envisioned to garner a revenue of $3,330.3 million and rise at a CAGR of 6.9% throughout the forecast period from 2021 to 2028.
As per our analysts, with the growing demand for electronic devices among individuals such as smartphones, the chip resistor market is expected to experience significant growth over the estimated timeframe. Besides, the rapid growth in automotive and industrial electronics is expected to fortify the growth of the market throughout the forecast period. Moreover, the continuous development of emerging technologies such as AI in products, IoT, and 5G networks is expected to upsurge the growth of the market over the analysis timeframe. However, the volatile price of raw materials may impede the growth of the market during the estimated period.