Chip Resistor Market: Rising Digitization in Industries and Growing Application of Electronics in Automobiles to Drive Market
According to a new market research report published by Transparency Market Research , titled ‘Chip Resistor Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ the global chip resistor market was valued at US$ 1,555.3 Mn in 2018 and is expected to expand at a CAGR of 6.14% from 2019 to 2027, to reach value of US$ 2,647.8 Mn by the end of the forecast period. Rising digitization in industries across the globe to fuel the market Technological advancements in sensors, robotics, data capture, connectivity, and computing power are enabling organizations to make improvements in materials to enhance the efficiency of their production, service and supply chain organizations. Furthermore, advancements in telecommunication, robotics, and software are also accelerating the level of automation in industries. These advanced systems employ chip resistors, as they are increasingly being used for efficient operation of devices for limiting the current a...