London, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Global active electronic components market poised for impressive growth in the years to come, reaching US$478.9 Bn by 2030-end. At a robust CAGR of 6.9% during the years of projection, 2023 – 2030, the market for active electric components, as suggested by a new Fairfield Market Research study, will experience a heavy demand surge fuelled by rising demand for EVs, novel materials, and pacing IoT penetration.
The active electronic components market is witnessing notable growth in revenue, with semiconductor devices taking the lead, and key regions such as Asia Pacific, and North America driving substantial growth. As technology continues to evolve, the market is poised for further advancements and innovations, promising a dynamic and competitive landscape in the years to come.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$300.2 Bn | |
| Estimated Market Size in 2030 | US$478.9 Bn | |
| CAGR | 6.9% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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| Key Players | Intel Corp., Qualcomm, Inc., Toshiba Corp., Texas Instruments, Inc., Analog Devices, Inc., NXP Semiconductors NV, Infineon Technologies AG, Maxim Integrated, Broadcom, Inc., ON Semiconductor, Microchip Technology, Inc., Monolithic Power Systems, Inc., Advanced Micro Devices, STMicroelectronics N.V., Renesas Electronics Corporation | |
A significant growth driver behind this growth is the escalating demand for electric and hybrid vehicles, leading to increased use of power electronics in automotive applications. The market further expands through the development of innovative materials like graphene and carbon nanotubes, offering enhanced conductivity and distinctive electronic properties.
“The market is reaping the benefit from increased use of power electronics in automotive applications, especially in electric and hybrid vehicles. Delays in deliveries may however hinder market expansion to a large extent,” says the company’s analyst.
Medical equipment integration, especially in implanted devices, surgical instruments, and diagnostic tools, is contributing to the market's robust performance. However, challenges prevail in form of supply chain disruptions, leading to delayed deliveries and concerns about cyber threats impacting connected gadgets pose potential hurdles to industry’s expansion.
The market witnesses a trend towards energy-efficient components, addressing environmental concerns through innovations in power management ICs, and display technology. The ongoing trend towards miniaturisation and integration of active components, catering to consumer demand for compact, powerful electronic products. The report underscores the fact that the rapid developments in AI, ML, IoT, and 5G drive the market’s expansion.
Key Research Insights
- Novel materials like graphene, and carbon nanotubes contribute to the market surge, offering high conductivity and unique electronic properties.
- Active electronic components find growing applications in medical equipment, including implanted devices, surgical instruments, and diagnostic tools.
- The semiconductor segment dominates with the highest revenue share, driven by their widespread adoption in various applications.
Insights into Segmentation Analysis
Semiconductor Devices Maintain the Lead
In the dynamic landscape of electronic components, 2022 witnessed a notable shift with semiconductor devices emerging as the dominant force over the traditional vacuum tubes segment. This transition is fueled by the increasing market demand for energy-efficient products and continuous innovations within the semiconductor space.
The semiconductor devices category, comprising transistors, diodes, optoelectronic components, and integrated circuits, found extensive applications in home appliances, personal computers, mobile phones, and network equipment.
The remarkable growth in semiconductor devices is attributed to their versatility and widespread integration across various consumer goods. Unlike vacuum tubes, semiconductor devices are essential components in passive electronic systems, contributing to the surge in demand for energy-efficient products and the ongoing trend of product innovation.
Consumer Electronics to Register Growing Adoption
As of 2022, the consumer electronics category has taken center stage in the market, demonstrating significant growth, and poised for further expansion throughout the forecast period.
The adoption of microelectronic appliances in consumer goods, gaming consoles, and an array of devices is a driving force behind this surge. Moreover, the rising demand for networking hardware, especially in home and business automation, is propelling the market forward.
Automakers’s Inclination Toward Advanced Electronics
The automotive sector is also a key segment of the market. Automotive manufacturers globally are focusing on integrating diverse technologies, and advanced electronics to attract customers.
The market for automotive active electronic components has seen substantial growth, particularly in premium and ultra-luxury vehicles, showcasing the increased reliance on electronic parts and safety systems in modern vehicles.
Key Report Highlights
- Regional analysis of the market shows that Asia Pacific, and North America spearhead growth. The former, led by China, South Korea, Japan, and Taiwan, holds the largest market share.
- North America’s significant growth prospects are upheld by IoT and smart city investments.
- Vigilance is required to address supply chain disruptions and cybersecurity concerns. The industry's resilience and adaptability will be pivotal in meeting the evolving needs of the consumer electronics, automotive, and healthcare sectors. This will ensure the market’s sustained growth trajectory.
Insights into Regional Analysis
Asia Pacific Forms the Epicentre of Growth
Asia Pacific emerges as the frontrunner in the active electronic components market. With the region's substantial market share, Asia Pacific is experiencing a rapid digital transformation driven by the increasing number of internet users, particularly on smartphones and portable devices.
The demand for active electronic components is further fueled by the widespread use of digital maps, especially in the context of autonomous vehicles, which rely on digital map systems for route planning, and navigation.
China, as the world's leading producer and exporter of consumer electronics, plays a pivotal role in the region's growth. Lucrative features and innovative technology have reshaped the consumer electronics industry in China, leading to a heightened demand for active electronic components.
North America’s Gains Lie in Smart City Initiatives
North America anticipates significant gains in the active electronic components market, driven by the expansion of 5G networks, and smart city initiatives. The US federal government's substantial investments in smart city development, coupled with the rapid growth of micro-electromechanical systems (MEMS) and renewable energy sources, are key factors propelling the market in the region.
The increasing trend toward smart homes and connected automobiles is motivating telecom operators to make substantial investments in the construction of 5G network infrastructure.
Browse Global Active Electronic Components Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Product Type Coverage, By End User Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/active-electronic-components-market
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