Global Active Electronic Components Market: Overview
The need for higher energy efficiency in electronic products along with the emergence of new applications is driving growth of the active electronic components market, which is anticipated to expand at a CAGR of 8.4% during the forecast period from 2019 to 2027. The overall active electronic component market was valued at US$ 252.54 Bn in 2018. Earlier, these components were confined to be used for applications such as consumer electronics and printed circuit boards. However, nowadays these are dynamically used in applications such as automobile sector, space and satellite technology, and military applications. Rising trend towards the use of electric and hybrid vehicles and increase in the adoption of renewable energy sources is expected to contribute for high demand for active electronic components in the coming years. Most of the renewable energy fixtures consist of devices such as solar panels, turbines and invertors. These devices are further composed of active electronic components such as photodiodes and photo-transistors. Further, latest technological innovations in the active electronic components have fuelled the demand for miniature handheld devices such as smartphones, tablets and PDA’s. Along with this, miniaturized electronic components are also contributing in the development of smart wearable devices such as smart watches and smart wrist bands.
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On the basis of product types, the active electronic components market is segmented into semiconductor devices, display devices and others. In 2018, semiconductor devices segment held a significant share of the active electronic components market and is expected to register robust growth during the coming years. This growth is due to the increasing demand for energy efficient devices and product innovations in the electronic industry. Semiconductor devices segment of the active electronic components market comprises of diodes, transistors, integrated circuits and optoelectronic components. Integrated circuits are the most commonly used semiconductor devices which are primarily used in electronic products. Integrated circuits are also widely used in applications such as consumer electronics, radar communication systems and military equipment. The key applications of display devices include display systems, consumer electronics and medical electronics. In 2018, x-ray tubes accounted for the largest revenue share among the display devices of the active electronic components. In 2018, North America was the largest market for active electronic components globally. During the coming years, growth of active electronic component market in North America is expected to be supported by the growing use of renewable energy resources and the rising trend towards the use of electric and hybrid vehicles.
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The active electronic components market is fragmented in nature, with many global as well as regional players present in the market. The important strategy adopted by key players in the active electronic components market is geographical expansion of their businesses in order to address the varying and increasing requirements of the customers. For instance, Diotec Corporation is focusing on developing its global presence by setting up new facilities for its component production worldwide. The company established new sales offices in South Korea and in Singapore.
Rising Demand for Electronic Devices Worldwide to Drive Active Electronic Components Market
The growing need for efficient and reliable electronic products is expected to aid in expansion of the global active electronic components market. These components were mainly used in printed circuit boards and consumer electronics but are now used in space and satellite technology, military applications, and automobile sector among others. Rising pattern towards the utilization of electric and cross breed vehicles and expansion in the appropriation of sustainable power sources is required to contribute for appeal for active electronic components in the coming years. The vast majority of the sustainable power installations comprise of gadgets like sun based boards, turbines and invertors. These gadgets are additionally made out of active electronic components, for example, photodiodes and photograph semiconductors. Further, most recent mechanical advancements in the active electronic components have energized the interest for scaled down handheld gadgets, for example, cell phones, tablets and PDA’s. Alongside this, scaled down electronic components are likewise contributing in the improvement of savvy wearable gadgets, for example, brilliant watches and shrewd wrist groups.
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