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.
Demand for connected cars is transforming the
automotive industry. This has increased the use of advanced electronics in
automobiles for multiple applications, such as parking, safety, telematics, and
navigation. Thus, the rising demand for advanced electronics in vehicles is
expected to drive market growth over the forecast period. Also, demand for
advanced microcontrollers or modems to provide robust connectivity to
autonomous cars and other critical applications is expected to increase product
adoption over the forecast period.
With the rising trend of industry 4.0, the adoption of
the Internet of Things (IoT) devices in the manufacturing sector is gradually
increasing worldwide. Key manufacturers are opting for new technologies to
augment their overall productivity and operational efficiency to ensure
profitability. Therefore, the rising adoption of IoT technology for smart
manufacturing applications, such as machine-to-machine communication, is
estimated to augment the product demand. However, the trade war between the
U.S. and China is anticipated to restrict the overall market growth over the
forecast period.
Related Press Release@ Active Electronic Components Market Report
Active Electronic Components
Market Report Highlights
- The market in India is anticipated to register significant growth
due to the rising investments by prominent smartphone manufacturers aimed
at establishing their manufacturing facilities in the country
- The Integrated Circuits (ICs) sub-segment held the highest market
revenue share of over 55% in 2020 due to the high demand for ICs
integrated with state-of-the-art devices, such as smartphone, laptops,
vehicle automation systems, and network devices
- Significantly growing product demand across next-generation
devices, such as 5G-enabled smartphones, gaming consoles, and other
consumer electronics, is estimated to fuel the consumer devices segment
growth from 2021 to 2028
- The COVID-19 pandemic has a significant impact on the market in
2020. Several manufacturing companies reported a notable drop in their
revenues for Q1 and Q2 of the year 2020
- Several key market players are focusing on mergers and acquisitions
to strengthen their market presence and expand their product portfolios
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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