The global active electronic components market has achieved a significant milestone, surpassing US$300 billion in revenue by the end of 2029. This remarkable growth, with a steady compound annual growth rate (CAGR) of over 8% since 2021, is primarily driven by the escalating demand from the electronics and automotive industries.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/active-electronic-components-market
Growing Demand from Electronics and Automotive Industries
Active electronic components play a pivotal role in powering telecom equipment, networking devices, and consumer electronics like smartphones and laptops. The rapid growth in consumer electronics demand is a major driver behind the markets expansion. Moreover, the implementation of next-generation 5G infrastructure in developing countries, such as India, is driving the need for new IT and telecom equipment, further boosting the adoption of active electronic components.
Automotive Industrys Embrace of Automation and Electric Vehicles (EVs)
The automotive industrys increasing focus on automation and the adoption of electric vehicles (EVs) is also contributing to the markets growth. Active electronic components, including driver assistance systems, power-integrated devices, telematics, and GPS, are essential in enhancing the efficiency and functionality of modern vehicles. As the demand for electric cars rises, the adoption of active electronic components is expected to increase, given their extensive usage in EVs and autonomous vehicles.
Growing Ubiquity of Connected Technology-enabled Devices
The growing ubiquity of connected technology-enabled devices is accelerating the expansion of the active electronic components market. Manufacturers are leveraging digital technology to streamline operations, leading to improved productivity and operational efficiency in industrial automation. As Industry 4.0 evolves, the deployment of connected devices across manufacturing facilities is expected to drive the markets growth in the coming years.
Challenges and Opportunities
Despite the positive growth outlook, the market faces challenges related to fluctuating raw material prices and high production costs. However, the dominance of semiconductor devices in the market, characterized by continuous product innovation and the demand for energy-efficient systems, continues to drive the markets upward trajectory.
Asia Pacific Reigning Supreme
The Asia Pacific region remains at the forefront of the active electronic components market, boasting the largest consumer electronics hub globally. Major manufacturers like Samsung Electronics, Xiaomi Corporation, and BBK electronics (including brands such as Vivo, Oppo, and Realme) significantly contribute to the regions market growth. Additionally, emerging countries like India and China are witnessing a surge in demand for industrial automated systems, further driving the markets expansion.
Stable Revenue Growth in North America
In North America, stable revenue growth is projected, driven by the increasing demand for connected cars, investments in 5G networks by major telecom giants, and government initiatives towards smart cities and renewable energy resources.
Market Key Players
Key players in the 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., and Monolithic Power Systems, Inc. and others.
As the global active electronic components market continues its upward trajectory, industry players are well-positioned to capitalize on the escalating demand from the electronics and automotive sectors. With a focus on innovation and strategic partnerships, the market is set to evolve and meet the ever-changing needs of the connected world.
Related Reports:
Digital Logistics Market: https://www.fairfieldmarketresearch.com/report/digital-logistics-market
Satellite Phones Market: https://www.fairfieldmarketresearch.com/report/satellite-phones-market
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: [email protected]
COMTEX_437969565/2840/2023-08-07T13:52:11