Active Electronic Components Market: North America Is Estimated To Be The Second-Largest Region Over The Coming Years
Active Electronic Components Industry Overview
The global active electronic components market size is estimated to reach USD 529.86 billion by 2028, registering a CAGR of 9.2% from 2021 to 2028, according to a new study by Grand View Research, Inc. Growing demand for active electronics components in the production of smart home appliances, such as refrigerators, air conditioners, and washing machines, is estimated to boost the market growth over the forecast period. Moreover, the anticipated adoption of these components in networking devices and telecom equipment requisite for developing 5G infrastructure is further expected to elevate the market growth from 2021 to 2028.
The growing popularity of wearables, such as smartwatches, Virtual Reality (VR) headsets, and fitness bands, and increased consumer spending on health and entertainment are also anticipated to increase product adoption in the coming years. In addition, voluminous patient data coupled with investments made by the governments and private players worldwide for setting up state-of-the-art healthcare facilities has augmented the adoption of high-tech medical equipment and connected devices, thereby boosting the product demand.
Demand for connected cars is transforming the automotive industry. This has increased the use of advanced electronics in automobiles for multiple applications, such as parking, safety, telematics, and navigation. Thus, the rising demand for advanced electronics in vehicles is expected to drive market growth over the forecast period. Also, demand for advanced microcontrollers or modems to provide robust connectivity to autonomous cars and other critical applications is expected to increase product adoption over the forecast period.
With the rising trend of industry 4.0, the adoption of the Internet of Things (IoT) devices in the manufacturing sector is gradually increasing worldwide. Key manufacturers are opting for new technologies to augment their overall productivity and operational efficiency to ensure profitability. Therefore, the rising adoption of IoT technology for smart manufacturing applications, such as machine-to-machine communication, is estimated to augment the product demand. However, the trade war between the U.S. and China is anticipated to restrict the overall market growth over the forecast period.
Active Electronic Components Market Segmentation
Grand View Research has segmented the global active electronic components market on the basis of product type, end-user, and region:
Based on the Product Type Insights, the market is segmented into Semiconductor Devices, Vacuum Tubes, Display Devices, and Others.
- The semiconductor devices segment held the highest revenue share of over 62% and is estimated to expand further at the fastest CAGR from 2021 to 2028. The segment growth is attributed to the robust adoption of semiconductor devices across several applications including household appliances, mobile phones, Personal Computers (PCs), and network equipment among others.
- Over the past few years, smartphones have witnessed a massive rise in demand, especially across emerging economies. Also, the demand for 5G chipsetsis progressively increasing in the developed economies with the introduction of 5G-enabled smartphones and budding demand for car automation systems and telecom equipment.
Based on the End-user Insights, the market is segmented into Consumer Electronics, Networking & Telecommunication, Automotive, Manufacturing, Aerospace & Defense, Healthcare, and Others.
- The consumer electronicssegment led the global market in 2020 accounting for the highest revenue share of over 33%. The segment is expected to expand further at the fastest CAGR of more than 10% over the forecast period. The growth is primarily attributed to the increasing demand for semiconductor devices for various consumer devices, such as mobile phones, digital cameras, Set-Top Boxes (STB), wearable devices, gaming devices, and others.
- With the rising consumer interest in autonomous vehicles, prominent OEMs, such as Waymo, Ford Motor Company, Tesla, Inc., and Volkswagen Group, is deploying autonomous systems in their newly manufactured vehicles. Therefore, demand for these systems is expected to increase product consumption in the automotive segment.
Active Electronic Components Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key players are highly focused on launching new products to gain a significant market share and enhance their overall profitability. For instance, in September 2019, NXP Semiconductors N.V. introduced a secure fine-ranging chipset, ‘SR100T’. This chipset is mainly designed for next-generation Ultra-Wide Band (UWB)-enabled mobile devices to provide highly accurate positioning performance. However, some players are focusing on mergers and acquisitions to strengthen their overall market presence. For instance, in June 2019, Infineon Technologies AG acquired Cypress Semiconductor Corp. to strengthen its product offering and market position. Some of the prominent players in the global active electronic components market include:
- Infineon Technologies AG
- NXP Semiconductors NV
- Texas Instruments, Inc.
- Toshiba Corp.
- Intel Corp.
- Maxim Integrated
- Broadcom, Inc.
- Qualcomm, Inc.
- Analog Devices, Inc.
- Advanced Micro Devices
- Microchip Technology, Inc.
- Monolithic Power Systems, Inc.
Order a free sample PDF of the Active Electronic Components Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
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