The global active electronic components market size is expected to surpass over US$ 521.11 Bn by 2027 with a CAGR of 8.2% over forecast period 2020 to 2027.
OTTAWA, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Precedence Research, Recently Published Report on titled “Active Electronic Components Market (By Product Type: Semiconductor Devices (Transistors, Diodes, Optoelectronic Components, And Integrated Circuits) And Display Devices (Cathode-Ray Tubes, Microwave Tubes, X-Ray Tubes, Triodes, And Photoelectric Tubes), And Other Devices) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027”.
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The global active electronic components market size was valued at US$ 273.25 billion in 2019 and growing at a compound annual growth rate (CAGR) of 8.2% from 2020 to 2027.
Active electronic components require an energy source to operate, typically in the form of direct current. They can control and manipulate the flow of electricity through them. Generally, every electronic circuit consists of one active electronic component. Some of the active electronic components include transistor, diode, triodes, optoelectronic components, photoelectric tubes, and integrated circuits among others. Integrated circuits are the most demand active electronic component owing to its large number of applications such as electronic devices, microphones, smartphones, and many others. Furthermore, significant number of technological developments in the integrated circuits has made it most lucrative such as flexible ICs and multi-layered ICs.
Growth Factors
The rising trend for autonomous vehicles is propelling the demand for various electronic devices, such as DC to AC converter, driver assistance system, power integrated devices, controllers, Global Positioning Systems (GPS), and telematics among others. These devices are largely used in autonomous and electric vehicles. In addition, the government initiative to spur the adoption of electric vehicle for the reduction in carbon emission has driven the demand for active electronic components across the world. Governments of several regions such as U.S., Europe, China, and India are adopting low carbon emission vehicles to reduce the stress on environment.
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Moreover, rising penetration of IoT for the digitization has further transformed the electronics market. Today, consumers prefer smart and connected solutions to access the ease in controlling and monitoring their devices. These aforementioned factors are projected to boost the demand for active electronic components significantly in the coming years.
Regional Snapshots
North America is the major revenue generator in 2019 and expected to grow with rapid pace during the forecast period. With the explosive growth in connected cars, telecom providers such as AT&T and many other telecom companies have shifted their focus from tradition network towards 5G network infrastructures. The next-generation mobile network analyzed to offer seamless connectivity to vehicles. Besides this, prominent spending in smart city projects by the U.S. government offer huge opportunity for the growth of active electronic components market. In November 2016, the U.S. government announced to append approx. US$ 160 Mn for the smart city initiative over the next five years.
The Asia Pacific offers lucrative growth over the forecast period owing to presence of leading consumer electronics manufacturers such as BBK electronics, Xiaomi Corporation, Samsung Electronics Co., Ltd., and many others. Moreover, the rising demand for industrial automated systems such as Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controllers (PLCs), and other automated solutions that are designed using various electronic components. Aforementioned factors projected to trigger the market growth in the region.
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Key Players & Strategies
The global active electronic components market is highly fragmented and competitive with the presence of large number of global and regional players. The market players are significantly engaged in the technological advancement, regional expansion, and merger & acquisitions to retain their footprint in the global market. Furthermore, the market is highly vulnerable for the new market entrants that build pressure on the existing market players to come up with new and attractive components. Apart from this, brand name plays a significant role in the choice of active electronic component market player as it provides assistance to its consumers from quality and pricing view.
Some of the key players of the market are Infineon Technologies AG, Fairchild Semiconductor International, Inc., Maxim Integrated Products Inc., Texas Instruments, Inc., Analog Devices, Inc., ST Microelectronics NV, Diotec Semiconductor AG, ON Semiconductor, Toshiba Corporation, NXP Semiconductors NV, Everlight Electronics Co., Ltd., Vishay Intertechnology, Inc., Renesas Electric Corporation, and Panasonic Corporation among others.
Report Highlights
- North America dominated the global active electronic components market in 2019. The prime factor contributing to its revenue growth is early adoption of new technologies such as vehicle automation system, hybrid and electric cars, and smart home devices.
- The Asia Pacific is the most lucrative region for the active electronic components market and seems to register the fastest growth over the forecast period. The explicit growth of the region is primarily due to significant consumer electronic market in the region. China, India, Japan, and South Korea expected to encounter attractive demand for consumer electronic product in the region.
- Semiconductor devices segment held the maximum revenue share of early 50% in the global active electronic components market in 2019. The growth is mainly attributed to the lucrative demand for integrated circuits owing to advent of 5G network infrastructure and other rapid technologies in the coming years.
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