Project Report For Electronic Item
Project report for Electronic Item is as follows.
The need for numerous electronic devices, such as driver assistance systems, DC to AC converters, controllers, and power integrated devices, telematics, and Global Positioning Systems (GPS), has increased as the automotive industry has become more automated. These devices are commonly found in electric vehicles (EVs) and self-driving cars. As a result, over the forecast period, rising demand for electric cars is expected to drive product adoption. The industrial industry is quickly changing as a result of connected technology.
By enabling simplicity of operation and lowering total downtime, these linked devices assist industrial facilities in increasing overall productivity and operational efficiency. Furthermore, as industry 4.0 evolves, numerous industrial businesses are embracing digitalization to streamline operational operations via remote monitoring. As a result, the market is likely to be driven by the increasing deployment of connected devices throughout manufacturing facilities in the coming years.
Market potential & Strategy
The global market for active electronic components was valued at USD 273.7 billion in 2020, and it is predicted to increase at a CAGR of 9.2 per cent from 2021 to 2028. The market is being driven by the rapidly expanding demand for consumer electronics devices like smartphones and laptops. Active electronic components are essential parts of telecommunications equipment and other networking devices that require an energy source to function. Consumer desire for greater bandwidth and low latency has enabled telecom carriers to meet this demand .especially in emerging economies like India, to deploy next-generation 5G network infrastructure. This, in turn, will augment the demand for new IT and telecom equipment, thereby increasing product adoption The COVID-19 epidemic has had a significant impact on the manufacturing of passive and interconnected electronic components all around the world. Countries including China, Germany, the United States, Japan, and South Korea have a large number of COVID-19 instances, forcing governments to enact restrictions such as city lockdowns, locking international trade boundaries, and allowing firms to give employees with work-from-home options. Due to the temporary suspension of production facilities and international borders, a drop in electronic component output and exports had a substantial impact on total market growth in Q1 and Q2 of 2020.
Defence applications for intelligence gathering, navigation, and communication establishing have long relied on active electronic components. Increased defence spending in important countries such as the United States, India, and China will further aid market expansion. For example, the US federal government planned spending on the military of roughly USD 686 billion in 2019.
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