Inductor Market Size

Inductor Market Analysis

The Inductor Market is valued at USD 11.01 billion in the current year and is expected to reach USD 14.58 billion by the end of the forecast period by registering a CAGR of 4.4% during the forecast period. Power inductors are used more frequently in consumer electronics due to their small size, high current capacity, and low DCR characteristics. Consumer electronics gadgets frequently employ RF inductors and other types of inductors. The rise of a few key emerging technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), as well as manufacturers' increased attention to new technologies, have accelerated the use of inductors. Inductor industry development has also been fueled by the incorporation of network technologies, including 3G, 4G, and 5G, in different electronic products.

• Consumer electronics is a dynamic and fast-evolving industry with rising market vendor competition and game-changing technology advancements. The functionality and quality of consumer electronic device items are improving due to these technological advancements and inventions. Additionally, they are anticipated to increase the overall volume of inductors used in consumer electronics products.
• The smart home system provides a living environment that is safe, convenient, comfortable, environmentally friendly and uses less energy. One of the main components of a smart home system is the home environment control system. Other components include the home wiring system, home network system, smart home (central) control system, home lighting control system, home security system, etc. In order to achieve this, a variety of sensors must be employed to gather data, in addition to power, protection, filter, and power amplifier circuits. In each of these circuits, inductance is an essential electrical component.
• The most crucial electrical component in the filter and power amplifier circuits is inductance. Therefore, the accuracy of the current signal in the smart home system cannot be guaranteed without the inductance, and the signal transmission cannot be smooth. In short, without inductance, a smart house is impossible. Inductor producers have an opportunity as the smart home industry advances from the intermediate stage to the advanced stage.
• Copper, iron, and ferrite are the most common materials used to make inductors because of their characteristics, including excellent electrical connection and low power losses. Since copper has excellent mechanical and thermal properties, inductors are frequently made with it. Any glitch in a region's mining operations can have a big impact on copper prices worldwide. Land slips in the mining region, for example, can have an impact on copper mining and drive up costs.
• During the COVID-19 pandemic, due to the lockdown in several countries manufacturing of the component and supply chain got disrupted. Post-COVID-19, after the situation got normalized, the industry is slowly reviving. The demand for inductors has increased due to rising use in the automotive industries as well as smart city projects are also booming, which will propel the market growth during the projected period.