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The global active electronic components market is lucrative and predicted to witness a notable growth at a 10% CAGR over the forecast period (2016-2022), reveals the Market Research Future (MRFR) report. Components that produce energy either in the form of current or voltage are known as active components. This is a core component for operating any device. Voltage and current are the two key parameters to take into consideration for accurate device operation. Every electronic circuit should have a minimum of one active component.
Active electronic components are those components which keep the computer on when it is turned on and vice versa. Besides, they also help to turn numerous parts of an electronic device when specific conditions are met. Silicon-controlled rectifiers, vacuum tubes, and transistors are some of the key examples of such electronic components.
Active electronic components are an essential constituent of the manufacturing method of electronic products. The quality of components that are utilized during manufacturing will help to determine the growth and future in the market. Ultimately, quality components help to improve the durability of the end products and also its quality. These components have transformed the way in which people live and use technology ever since it was first introduced.
Active electronic components are utilized in almost every industry. Today, there are countless inventions which use electronic components. Home appliances, computers, and also the internet use it to run efficiently and smoothly. Earlier, such components were limited to be utilized for applications such as printed circuit boards and consumer electronics. However, today it is dynamically used in other applications such as military, space & satellite technology, and automobiles.
Fascinating Features Pushing Market Growth
In accordance with the Market Research Future report, there are a couple of factors that are driving the Active Electronic Components Market. These include growing consumption trends for smartphones as well as other wearable devices, the development of IoT, escalating demand for smart automobiles, infrastructure, and industrial machinery, growing demand for portable devices such as portable electronic devices and portable displays, and addition of new applications. Additional factors pushing the market growth include demand for energy-efficient electrical products, increasing use of hybrid and electric vehicles, adoption of renewable sources of energy, increasing use in military and medical applications, growing adoption of NEMS and MEMS technology, technological advancements, modernization of automobiles, increasing demand from diversified industries, and adoption of smart technologies.
On the contrary, the increasing cost of raw materials coupled with a shortage in the supply of electronic components are factors that may deter the active electronic components market growth over the forecast period.
By region, the active electronic components market covers growth opportunities and latest trends across Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will rule the roost in the market over the forecast period chiefly due to the growing demand for business intelligence and security system. Rise in IoT (internet of things) coupled with growing automation across industries in this region will also boost market growth.
The active electronic components market in the APAC region is predicted to have the second largest market share during the forecast period. This is owing to increasing demand and need for energy-efficient devices along with the development in the use of smartphones in the region. Moreover, rapid industrialization, growing digitization, economic growth, development of auto electronics, increased need for miniaturization, and increasing penetration of high-tech devices are also predicted to drive market growth in this region. Japan, China, and India are the key contributors here. This region is predicted to grow at the highest CAGR owing to the growing use of consumer electronics and increase in industrial automation.
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