The global active electronic components market is projected to attain USD 495.2 billion, by 2025, and is estimated to grow at the CAGR of 9.6% over the forecast period, 2019 to 2025, according to a new report by Million Insights. Increasing demand for electronic components especially in the production of smart home equipment including washing machines, air conditioners, and refrigerators is expected to boost market growth. In addition, increasing development in 5G infrastructure along with high demand for telecom and networking devices is also expected to bolster market growth.
Smart wearables like virtual reality headsets (VR), smartwatches are gaining in popularity. Consumers are willing to spend on health & entertainment which is projected to foster the growth of wearable devices. Moreover, supportive government investment for building advanced medical facilities & connected devices is supporting the market growth. Thus, the increasing demand for connected and smart devices is fostering the growth of the active electronic component.
In the automotive industry, the growing demand for advanced and connected cars is expected to positively impact on market growth. Various applications like navigation systems, telematics, smart parking, and safety are increasing the need for electronic devices. Additionally, growing demand for advanced modems and microcontrollers with a focus on high connectivity for autonomous cars is anticipated to spur the demand for electronic components over the forecasted period.
Growing trend of industrial IoT or industry 4.0 is projected to increase the demand for advanced IoT devices from the manufacturing industry. Key players in the market focus on developing new technologies to improve their productivity. Smart manufacturing including machine to machine communications is expected to surge the adoption of active electronic devices/components. However, the growing trade war between China and U.S. may hinder the market growth.
Key manufacturers in the market include NXP Semiconductors NV; Infineon Technologies AG; STMicroelectronics; Texas Instruments Incorporated; Toshiba Corporation; Semiconductor Components Industries; Maxim Integrated; Intel Corporation; Broadcom Inc.; Renesas Electronics Corporation; Qualcomm Inc.; Microchip Technology Inc.; Analog Devices, Inc.; Monolithic Power Systems Inc; and Advanced Micro Devices.
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Further key findings from the report suggest:
• In India, the active electronic components market is projected to grow at the CAGR of over 12.8% from 2019 to 2025.
• In 2018, integrated circuits type segment contributed to revenue of USD 80.0 billion in the overall market. Rising demand for laptops, smartphones, network devices and automation system is supporting market growth.
• Growing trend of 5G infrastructure development, gaming consoles and other advanced electronics is boosting the market growth.
• Key players in the market focus on strategic acquisitions & mergers to increase their product portfolio.
Million Insights has segmented the global active electronic components market based on product, end user, and region:
Active Electronic Components Product Outlook (Revenue, USD Billion, 2015 - 2025)
• Semiconductor Devices
• Integrated Circuits (ICs)
• Vacuum Tubes
• Display Devices
Active Electronic Components End User Outlook (Revenue, USD Billion, 2015 - 2025)
• Consumer Electronics
• Networking & Telecommunication
• Aerospace & Defense
Active Electronic Components Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa