Active Electronic Components Market - Size, Trends, Growth, Industry Analysis, Share and Forecast to 2032
Active electronic components are devices that can modify or control the flow of electric current in a circuit. They include semiconductors, vacuum tubes, display devices, and others. These components are widely used in various applications such as consumer electronics, automotive, aerospace and defense, healthcare, and industrial automation. The global active electronic components market is expected to witness significant growth during the forecast period, owing to the increasing demand for electronic devices and the adoption of new technologies in various industries.
The major factors driving the growth of the active electronic components market are the rising demand for smart devices, such as smartphones, tablets, laptops, smart TVs, and wearable devices; the growing adoption of Internet of Things (IoT) and artificial intelligence (AI) in various sectors; the increasing need for energy-efficient and miniaturized components; and the rapid development of 5G infrastructure. Moreover, the emergence of new applications such as autonomous vehicles, smart cities, smart grids, and smart homes is expected to create lucrative opportunities for the market players in the coming years.
However, some of the challenges that may hamper the growth of the market are the high cost of active electronic components, the complexity of design and integration, and the risk of counterfeit products. Furthermore, the impact of COVID-19 pandemic on the global economy and supply chain may also affect the market growth in the short term.
The global active electronic components market can be segmented based on product type, end-user, and region. Based on product type, the market can be classified into semiconductor devices, vacuum tubes, display devices, and others. Semiconductor devices can be further sub-segmented into diodes, transistors, integrated circuits (ICs), optoelectronic devices, and others. Semiconductor devices accounted for the largest market share in 2022, due to their wide usage in various electronic devices and systems. Display devices can be further sub-segmented into light-emitting diodes (LEDs), liquid crystal displays (LCDs), organic light-emitting diodes (OLEDs), and others. Display devices are expected to witness the fastest growth during the forecast period, owing to their increasing demand for high-resolution and energy-efficient displays.
Based on end-user, the market can be categorized into consumer electronics, automotive, aerospace and defense, healthcare, industrial automation, and others. Consumer electronics dominated the market in 2022, due to the high consumption of active electronic components in various consumer electronic products such as smartphones, laptops, cameras, gaming consoles, and others. Automotive is expected to register the highest CAGR during the forecast period, owing to the rising adoption of active electronic components in various automotive applications such as infotainment systems, advanced driver assistance systems (ADAS), electric vehicles (EVs), and others.
The global active electronic components market can be divided into North America, Europe, Asia-Pacific,
and Middle East & Africa. Asia-Pacific held the largest market share in 2022,
the presence of major manufacturers
of active electronic components
in countries such as China,
and South Korea.
Asia-Pacific is also expected to witness
the highest growth rate during
the forecast period,
the increasing demand for electronic devices
the rapid development of emerging technologies
such as IoT,
and Europe are also expected to contribute significantly to
the market growth,
the high adoption of advanced technologies
the presence of key players
in these regions.
The global active electronic components market is highly competitive and fragmented,
the presence of several local
and global players.
the key players operating in
the market are Texas Instruments Inc.,
Analog Devices Inc.,
Infineon Technologies AG,
and ON Semiconductor Corporation.
These players are focusing on product innovation,
mergers and acquisitions,
to enhance their market position
and gain a competitive edge.
Key Benefits for Stakeholders
This report provides a comprehensive analysis of the current trends and future estimations of the global active electronic components market.