Active Electronic Components Market Analysis
The global active electronic components market size will touch USD 330 billion at a 10% CAGR between the forecast period 2016- 2022, states the recent Market Research Future (MRFR) analysis. An active electronic component, simply put, is a component that helps to control the flow of electricity. Vacuum tube, display technologies, optoelectronic devices, semiconductor devices, and others are the different types that have wide applications in information technology, aerospace and defense, automotive, healthcare, consumer electronics, and others.
Various factors are propelling the active electronic components market revenue. According to the recent MRFR report, such factors include demand for consumer electronics devices like laptops and smartphones, growing demand for high bandwidth with low latency, deployment of next-generation 5G network infrastructure, demand for new IT and telecom equipment, rising penetration of wearable devices industrial automation, growing demand from the healthcare and automotive industry, growing adoption of MEMS technology, and growing modernization of cars. Additional factors adding market demand include the demand for technologically advanced and luxury cars, increasing application in wearables and consumer goods, growing adoption of renewable energy resources, increasing adoption in connected devices, concerns for energy efficiency, rising adoption of IoT, demand from emerging economies, and technological advances.
On the contrary, the current COVID-19 impact and the on-going trend of automation in the automotive sector may limit the global active electronic components market share over the forecast period.
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Key Players
Key market players profiled in the global active electronic components market report include Maxim Integrated (U.S.), Renesas Electric Corporation (Japan), STMicroelectronics (Switzerland), Toshiba Corporation (Japan), Panasonic Corporation (Japan), NXP Semiconductors N.V. (Netherlands), Analog Devices, Inc. (U.S.), Texas Instruments, Inc. (U.S), Infineon Technologies AG (Germany), and Hitachi AIC Inc. (Japan).
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global active electronic components market based on end users and product type.
By product type, the active electronic components market is segmented into vacuum tube, display technologies, optoelectronic devices, semiconductor devices, and others.
By end users, the global active electronic components market is segmented into information technology, aerospace and defense, automotive, healthcare, consumer electronics, and others. Of these, consumer electronics will dominate the market over the forecast period at an 11.95% CAGR.
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Regional Analysis
By region, the global active electronic components market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Huge demand for business intelligence and security system, booming trend for connected cars, presence of key telecom giants, deployment of 5G network infrastructure, demand for seamless connectivity to cars with infrastructure, investments of huge amounts by the US government to develop smart cities, and new installation of telecom equipment and other forms of networking devices are adding to the growth of the active electronic components market in the region.
In Europe, the global active electronic components market is predicted to have the second-largest share over the forecast period.
In the APAC region, the active electronic components market is predicted to have healthy growth over the forecast period. Growing demand and need for energy-efficient devices, rising adoption of smartphones, rapid industrialization, growing digitization, economic development, development of auto electronics, growing need for miniaturization, and rising penetration of high-tech devices are adding to the global active electronic components market growth in the region. Besides, the presence of a huge consumer electronics market, demand for several industrial automated systems, and presence of top consumer electronics manufacturers are also adding market growth.
In the Rest of the World, the global active electronic components market is predicted to have sound growth over the forecast period.
