Electronic components industry is a supporting industry that provides details to association complete products, which plays a vital role in the development of the electronics industry. Electronic components are the circuit elements which helps in its functioning. They are used to move electrons in their associated fields. They are mostly industrial products, available in a singular form. They have two or more electrical leads (or terminals) aside from antennas which may only have one terminal. These leads connect to create an electronic circuit using a specific function (for example radio receiver, an amplifier, or oscillator). Basic electronic components may be packaged individually, as arrays or networks of like components, or combined inside of packages for instance hybrid integrated circuits, semiconductor integrated circuits, or thick film devices.
According to study, “Electronic Components Comprehensive Report Q4/2019” the key companies operating in the electronic component comprehensive report are Saigon Stec Co., Ltd., Meiko Vietnam Co. Ltd., Intel Products Vietnam Co., Ltd, Haesung Vina Co. Ltd, Foster Electric Vietnam Co. Ltd, Hanoi Doosung Tech Co. Ltd., Hosiden Vietnam Co. Ltd., Sumidenso Vietnam Co. Ltd. Key manufacturers are opting for innovative technologies to augment their overall productivity and operational efficiency in order to ensure profitability.
Based on type, Vietnam electronic components market is segmented into active electronic components, passive electronic components and electromechanical electronic components. Active electronic components segments are used to produce energy in the form of voltage, whereas passive electronic components segments are used in storing energy in the form of current. Active electronic components are further sub-segmented into vacuum tubes (valves), power sources, discharge devices, display technologies and semiconductors. Semiconductors include diodes, integrated circuits, transistors, optoelectronic devices and others. Passive electronic components are further sub-segmented into memristor, capacitor, networks, magnetic (inductive) devices, transducers, sensors & detectors, antennas, prototyping aids, assemblies & modules and others. In addition, based on application, market is segmented into automotive, computing applications, communications, motor control, industrial, security, instrumentation, medical, lighting and others. The automotive segment is estimated to exhibit substantial growth rate owing to rise in the use of electronic components in new standard cars during the forecast period.
The Vietnam electronic components market is driven by growth in digitization, followed by rise in developments of auto electronics, rapid industrialization, growth in economy, increase in use of the internet of things (IoT) in factories, telecommunication, homes, and domestic & industrial electronics, rise in domestic electronic components production, growth in automotive technologies in electronic devices and rise in demand of multinational electronics groups in country. However, high labor costs in the manufacturing sector may impact the market. Moreover, rise in demand for electronic components by original equipment manufacturers (OEM) in order to fit the smaller components to their circuit board associations is a key opportunity for market. Furthermore, growth in demand for energy-efficient devices is a major trend for market.
Vietnam’s electronic components industry is dominated by foreign-invested enterprises that generates 95% of Vietnam electronics export turnover. In upcoming years, it is expected that future of the market will be bright on account of surge in developments of auto electronics, and growth in adoption of smartphones during the forecast period.
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Ankur Gupta, Head Marketing & Communications