Middle East and Africa Current Sampling Resistance Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Thick Film, Thin Film, and Metal Plate) and Application (Consumer Devices, Industrial, Telecommunication, Automotive, and Other Applications)
The MEA current sampling resistance market is expected to grow from US$ 86.89 million in 2021 to US$ 108.10 million by 2028; it is estimated to grow at a CAGR of 3.2% from 2021 to 2028.
Mounting large scale commercialization of IoT and IIoT is expected to surge the MEA current sampling resistance market. The use of the Internet of Things (IoT) and IIoT is constantly rising at a fast pace. According to the New Eclipse Foundation's IoT Commercial Adoption report, over 40% of industry executives indicate their businesses are adopting IoT solutions now, while another 22% say they expect to use IoT in the next two years. Furthermore, the poll found that IoT expenditure will rise, with 40% of companies expected to spend more on IoT solutions between 2020 and 2021. Further, government agencies across MEA region are launching projects to make use of IoT technology. Components are critical because they allow IoT products and applications to gather, analyze, and send real-world signals and data. The adoption of IoT creates favorable possibilities for component manufacturers, as well as indicating that component sale to expand exponentially in the upcoming years across MEA region.
In case of COVID-19, MEA is highly affected especially Saudi Arabia. The UAE, Egypt, Morocco, and Kuwait are some of the other MEA countries that are facing the effects of COVID-19 pandemic. The majority of operations in the region have been suspended due to an increase in the number of cases in the region. In order to deal with the pandemic, countries have been compelled to redirect funds to improve their healthcare infrastructure. As a result, the demand for passive components in the electronic industry is dwindling. As a result, the COVID-19 pandemic is limiting the demand development of current sampling resistors in the Middle East and Africa.
Based on application, the consumer devices segment is expected to be fastest growing during forecast period for MEA region. Consumer devices such as LCD televisions, digital cameras, game consoles, computers, tablets, printers, and phones are all moving toward faster speeds and lower power usage. Therefore, the circuitries such as power control and delivery platform need to be simplified and reduced in many cases. Manufacturers' need for lower operating currents and voltages has led to the development of metal plate resistors. The firms are creating tiny current sensing resistors in response to these demands. Advantages of current sampling resistor in consumer devices such as low noise, less current fluctuation, low power usage etc. are expected to increase its demand in coming years, thereby driving the MEA current sampling resistance market.
The overall MEA current sampling resistance market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the MEA current sampling resistance market. The process also serves the purpose of obtaining overview and forecast for the MEA current sampling resistance market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the MEA current sampling resistance market. Panasonic Corporation; ROHM CO., LTD.; Susumu Co., Ltd; TT Electronics; Viking Tech Corporation; and Vishay Intertechnology, Inc. are among a few players operating in the MEA current sampling resistance market.
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