2024 Octopart User Survey Results: Insights from the Electronic Components Industry

Behind every electronic device lies a complex web of components, each carefully selected and sourced by professionals who are making critical decisions daily. The tools these experts choose can mean the difference between efficiency and frustration, between meeting deadlines and falling behind. To understand how industry professionals navigate these challenges, Octopart conducted its annual user survey between November 12, 2024, and January 17, 2025, gathering responses from 584 industry professionals.

The results paint a compelling picture of how engineers, procurement specialists, and supply chain professionals rely on Octopart for their component sourcing needs. This year's data reveals particularly interesting patterns in usage frequency and procurement practices while also shedding new light on how companies approach vendor management.

Usage Patterns Show Strong Platform Engagement

One of the most striking findings from this year's survey is the high frequency of platform usage. With 43% of respondents visiting Octopart weekly and 34% accessing the platform daily, an impressive 77% have integrated Octopart into their regular workflow. This high-frequency usage demonstrates Octopart's evolution into an essential professional tool.

As Jordan, a Director of Engineering, notes, When needing good data quickly, nothing beats Octopart.

The platform's value is further evidenced by user loyalty, with 67% of respondents reporting they have been using Octopart for more than two years. This high retention rate suggests that once professionals discover Octopart's capabilities, it becomes an indispensable tool in their component sourcing arsenal.

How Professionals Leverage Octopart

The survey reveals that users rely on Octopart for a diverse range of sourcing activities, with inventory availability checking leading the way at 88% of respondents. This high percentage reflects the platform's role in helping professionals navigate supply chain complexities.

As Ryan, a Director of Operations, emphasizes, Octopart is king for me. When I can't find a part, I go straight to Octopart and locate it immediately.

Price comparison emerges as the second most common use case, with 76% of respondents leveraging Octopart to optimize their procurement costs. This capability, combined with the ability to find replacement parts (utilized by 51% of users), positions Octopart as a comprehensive solution for electronic component sourcing challenges.

The platform's technical depth is equally valued, with users relying heavily on datasheets and technical specifications for their research. When researching components, 59% of respondents prioritize availability data, while 45% focus on price and stock comparisons and 43% are looking for technical specifications, demonstrating how Octopart serves both procurement and engineering needs effectively. 

Procurement Practices and Preferences

The survey reveals that 82% of respondents prefer to purchase from authorized distributors at pricing available online, while 71% work with authorized distributors through quoted or negotiated pricing. Direct manufacturer relationships round out the top three procurement sources, being utilized by 64% of respondents.

When it comes to specific distributor preferences, Digi-Key (87%) and Mouser Electronics (86%) lead the way as the most frequently used distributors, followed by Arrow Electronics (49%).

When lead times are tight, Octopart is a lifesaver, notes Christophe, a Purchasing and Procurement Manager. It helps me quickly find alternates available for immediate procurement.

The survey also provides insight into purchasing patterns and order values. The majority of companies (55%) report annual electronic component expenditures between $1,000 and $1 million, with 26% spending between $1 million and $100 million annually. This broad range of purchasing volumes demonstrates Octopart's ability to serve businesses of all sizes.

Notably, 61% of users report visiting distributor websites directly for additional research, while 58% consult manufacturer websites directly. This multi-channel approach to sourcing, with Octopart serving as a central hub, highlights the platform's role in streamlining the procurement process.

As Ryan further explains, On the engineering side, it's equally valuable, helping designers ensure they're choosing the right components for their designs.

Understanding Approved Vendor List Dynamics

This year's survey provides new insight into how companies manage their approved vendor lists (AVLs). The data reveals that 65% of respondents work at companies that maintain AVLs, highlighting the widespread adoption of formal vendor management practices in the industry.

Perhaps more revealing than the adoption rate is the flexibility built into these programs. Among companies with AVLs, 47% of respondents indicate they can purchase from non-approved vendors with proper justification. This balanced approach allows organizations to maintain quality standards while adapting to market conditions and supply chain challenges.

When evaluating potential vendors for AVL inclusion, companies prioritize three key criteria: manufacturer authorization status, competitive pricing, and available stock levels.

I cannot see a world where I do not use Octopart, states George, a Procurement Specialist.

This sentiment reflects how Octopart's comprehensive distributor network and detailed vendor information help professionals navigate their AVL requirements effectively. The platform's ability to clearly display authorization status, pricing and inventory levels aligns perfectly with the top criteria companies use in their vendor selection process.

The survey also reveals that 32% of respondents must strictly adhere to approved vendor lists, while 21% have complete flexibility in their vendor selection. This distribution suggests that while formal vendor management remains important, companies are increasingly adopting flexible approaches that balance risk management with procurement efficiency.

The Future of Component Sourcing

The 2024 survey results paint a clear picture of Octopart's central role in the electronic component sourcing ecosystem. With 20 million unique users in 2024 and nearly 13 million new parts added to the platform, Octopart continues to expand its reach and capabilities to meet evolving industry needs.

Octopart's impact on procurement efficiency cannot be overstated.

When I started in procurement, I was fortunate that Octopart was already available. Before that, searching for parts meant visiting each distributor individually, which was incredibly time-consuming, reflects Ryan, a Director of Operations. Octopart, on the other hand, provides “a one-stop shop – I can quickly see who stocks a part, saving a huge amount of time. On the engineering side, it’s equally valuable, helping designers ensure they’re choosing the right components for their designs.

As we look toward the future, Octopart remains focused on enhancing the user experience through improved search capabilities, expanded technical data, and stronger distributor partnerships. With two-thirds of users (67%) being long-term platform adopters and a robust 77% accessing the platform at least weekly, Octopart continues to be the trusted solution for electronic component sourcing professionals worldwide.

Visit www.octopart.com to experience firsthand why millions of professionals rely on Octopart for their component sourcing needs.