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.
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.
- The demand for 5G chipsets is progressively increasing in the developed economies with the introduction of 5G-enabled smartphones and budding demand for car automation systems and telecom equipment.
- Therefore, with the increasing production of 5G chipsets, it is presumed that the IC segment may register strong growth during the forecast period.
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.
- Moreover, the adoption of the connected technology for remote patient monitoring coupled with the demand for advanced medical equipment is expected to boost product usage in the healthcare end-user segment over the forecast period.
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. However, some players are focusing on mergers and acquisitions to strengthen their overall market presence.
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.
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